Comments 1 - 35 of 35        Search these comments

1   Bitcoin   2021 Jun 3, 12:28pm  

HunterTits says
https://www.sacbee.com/news/politics-government/capitol-alert/article250735029.html


“So, Win-Win-Win,” the Democrats’ announcement reads. “Win #1 – homebuyers that can now afford a home and can thrive in the middle class and begin to build wealth; Win #2 – investors that get to protect and build their wealth by investing in California real estate; and Win #3 – California taxpayers and state budget that will face only minimal new costs.”
2   AmericanKulak   2021 Jun 3, 12:30pm  

All I wanted was a Pepsi.

30 years later...
3   Patrick   2021 Jun 3, 1:11pm  

HunterTits says
This is fucking insane!

It is only going to cause prices to skyrocket, thus forcing almost all would be homeowners to have to participate. Just like double-income couples out bid single income couples and NINJA mortgagees outbid those with more traditional financing.


And once in place, it cannot be unwound without devastating house prices, exactly the same as with Fannie/Freddie guaranteed loans.

Those loans just made housing more expensive, completely negating the benefit of the loan, but now those loans are there, they have to continue to be there or housing will crash and all mortgage lenders will be bankrupt (unless they packaged and sold off their mortgages again, in which case the bond buyers will get screwed).
4   RWSGFY   2021 Jun 3, 1:14pm  

Will the half-home-owner pay property tax on the whole enchilada or his 55% only?
5   RC2006   2021 Jun 3, 1:20pm  

"Democrats want the program to target Californians with significant student debt, and those who lost homes during the Great Recession."

That would not be first time home buyers, that would be the people that fuck up.
6   RC2006   2021 Jun 3, 1:25pm  

This shit will make prices go crazy. Is the state going to charge property tax on just half the home value, of course not it is a tax revenue scam that people are to stupid to see because all the focus on is the mortgage payment. This is how it will go down, buy million dollar house state owns half but consumer pays 100% of property taxes and if owner sells they pay 100% of sales tax. It is a tax raping.
7   GreaterNYCDude   2021 Jun 3, 2:26pm  

So were socializing housing by using the back door approach?
8   Blue   2021 Jun 3, 2:46pm  

A major issue like this should go through ballet measure. Why is it so fast. F. gov programs. They literally looting middle class savers.
9   Ceffer   2021 Jun 3, 2:50pm  

Only slight problem is California is going to use their half of the house for Section 8, but you still have to pay all the taxes and fees.
10   Eric Holder   2021 Jun 3, 3:06pm  

Ceffer says
Only slight problem is California is going to use their half of the house for Section 8, but you still have to pay all the taxes and fees.


Fact check: FALSE

Details: Only 45% of the house will be used for Section 8.
11   RC2006   2021 Jun 3, 3:09pm  

All the improvements one does to gov house will only return 50% at best since state gets half of value.
12   Shaman   2021 Jun 3, 3:24pm  

HunterTits says
It is only going to cause prices to skyrocket,


That seems obvious. If the government slashes a home price of 1 million down to 600k, then people will bid up the price again far past the original price “to be competitive” with other home buyers. So the 1 million dollar house will be bid up to 1.4 million so they wind up paying that 1 million price anyway, but in this scenario the state owns 40% of the home.
So not good.
13   Eric Holder   2021 Jun 3, 3:25pm  

Shaman says
HunterTits says
It is only going to cause prices to skyrocket,


That seems obvious. If the government slashes a home price of 1 million down to 600k, then people will bid up the price again far past the original price “to be competitive” with other home buyers. So the 1 million dollar house will be bid up to 1.4 million so they wind up paying that 1 million price anyway, but in this scenario the state owns 40% of the home.
So not good.


If you already own a house and looking to exit this beautiful state of ours - it's perfect. Instant 45% upside!
14   Shaman   2021 Jun 3, 3:33pm  

A lot of people would make a lot of money if this goes through. And it would give wealthy investors a way to invest in housing without having to deal with renters. If the house price rises 22% in a year that’s profit for the investor, as the value of the investment went up significantly.

And then the legacy owners would see their real estate go up in price to new ridiculous levels. They will love that.

Any situation that would be extremely advantageous for wealthy Democrats will absolutely happen.
15   Onvacation   2021 Jun 3, 3:53pm  

Blue says
A major issue like this should go through ballet measure.

I agree!
Those mother fuckers should have to pirouette in toe shoes before they even THINK of owning anyone's house.
16   Hircus   2021 Jun 3, 4:06pm  

I keep seeing more and more pieces to the new democrat strategy of causing asset inflation, so they can tax it.
17   RC2006   2021 Jun 3, 4:13pm  

Hircus says
I keep seeing more and more pieces to the new democrat strategy of causing asset inflation, so they can tax it.


100%


This is going to be a monster payday for rich dems they are probably loading up before this goes through.

And if there is a crash no problem load that onto taxpayers to bailout.
18   Ceffer   2021 Jun 3, 4:38pm  

Does this mean my California crapshack is worth double now?
19   Hircus   2021 Jun 3, 4:45pm  

Could this be dangling fruit from the dems, designed to keep newscum in office?
20   Reality   2021 Jun 3, 5:16pm  

RC2006 says
This is going to be a monster payday for rich dems they are probably loading up before this goes through.


It's a way for the hedge funds that loaded up on real estate to unload.
21   Reality   2021 Jun 3, 5:17pm  

Shaman says
And then the legacy owners would see their real estate go up in price to new ridiculous levels. They will love that.


Until they get their property tax bills
22   Reality   2021 Jun 3, 5:18pm  

Eric Holder says
If you already own a house and looking to exit this beautiful state of ours - it's perfect. Instant 45% upside!


Except the capital gains tax rate just went to 45% in Biden's tax proposal, and applies retroactively!
23   Shaman   2021 Jun 3, 6:07pm  

Reality says
Until they get their property tax bills


As long as Prop 13 remains in effect, that won’t be an issue. However the Democrats can always change that rule with their super majority whenever their masters yank their chains. However, their masters would be radically hurt by a Prop13 repeal so it won’t happen.
24   Eric Holder   2021 Jun 3, 6:15pm  

Reality says
Eric Holder says
If you already own a house and looking to exit this beautiful state of ours - it's perfect. Instant 45% upside!


Except the capital gains tax rate just went to 45% in Biden's tax proposal, and applies retroactively!


Well 65% of 45% is still shitload of free dough.
25   Reality   2021 Jun 3, 6:38pm  

Eric Holder says
Well 65% of 45% is still shitload of free dough.


The residential seller (not a hedge fund or portfolio owner) would still need to buy a place to live after paying the capital gain tax, regardless to where they move.
26   Eric Holder   2021 Jun 3, 6:52pm  

Reality says
Eric Holder says
Well 65% of 45% is still shitload of free dough.


The residential seller (not a hedge fund or portfolio owner) would still need to buy a place to live after paying the capital gain tax, regardless to where they move.


Not moving out of California then would be immensely stupid.
27   Robert Sproul   2021 Jun 3, 7:09pm  

From the folks that brought you Ethanol.
Can anyone think of a government program that worked as proposed and didn’t morph into some gigantic idiotic unintended consequence that is now thought of as “just the way it is.”
28   FortwayeAsFuckJoeBiden   2021 Jun 3, 7:24pm  

More reasons to leave the state.

If you need another one see what they teach kids in high school... hate white people. White is the new Jew to these leftist faggot nazis.

Pick ur gender starts in 6th grade in case your kids aren’t fucked up enough. In 9th they kick in hate white people studies. This isn’t accidental, it’s all planned. It’s what they want to do here.
29   Bitcoin   2021 Jun 4, 8:08am  

Fortwaynemobile says
More reasons to leave the state.


Why leave CA? I like to piss of radical liberals. Especially in my extended family.
30   NuttBoxer   2021 Jun 4, 5:01pm  

Patrick says
This is fucking insane!

It is only going to cause prices to skyrocket, thus forcing almost all would be homeowners to have to participate. Just like double-income couples out bid single income couples and NINJA mortgagees outbid those with more traditional financing.


And once in place, it cannot be unwound without devastating house prices, exactly the same as with Fannie/Freddie guaranteed loans.

Those loans just made housing more expensive, completely negating the benefit of the loan, but now those loans are there, they have to continue to be there or housing will crash and all mortgage lenders will be bankrupt (unless they packaged and sold off their mortgages again, in which case the bond buyers will get screwed).


There's a really simple concept that explains all of this, inflation and central banks.
32   Misc   2021 Jun 6, 2:37am  

So where is the state of California going to get the trillions of dollars to buy the 45% of residential homes that are sold?

I guess it could always use its pension fund assets.

Yep, that's the ticket.
33   Hircus   2021 Jun 6, 8:02am  

Misc says
So where is the state of California going to get the trillions of dollars to buy the 45% of residential homes that are sold?


I think it said investors will buy shares in some fund they create.
34   HeadSet   2021 Jun 6, 8:11am  

Misc says
So where is the state of California going to get the trillions of dollars to buy the 45% of residential homes that are sold?

Biden. Blue state bail-outs was a major reason for the cheat.
35   Shaman   2021 Jun 6, 8:42am  

I wonder if you can do short term investing in that fund? About six months to a year would be my bet before everything starts to cap out and then implode.

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions