Dan on Nostr: A house in my neighborhood has been remodeled, and sold 3 times in the past 6 years, ...
A house in my neighborhood has been remodeled, and sold 3 times in the past 6 years, by contractor/ realtor husband-wife teams. I think people may have actually lived in this house 6 months out of the past 6 years. It seems like we have 400 of these flipping teams in this town. I just noticed a new owner who is bringing in a new construction team.
I took a bottle of wine over, introduced myself , and asked the new owner when he planned on moving in ? He looked at me and smiled and said, "These houses aren't for living in, they are for buying and selling"! When he saw the perplexed look on my face , he said, "why mess with tenants?, and why leave money in a bank ?". He went on to say that "he gets an inflation return of 8% on every dime he throws into the place, and the houses themselves have been popping up in price at 20% per year", and the tax benefits are huge".
Houses have become financial vehicles because of monitary and tax policies. It's sick that young couples have been pushed out. It's one of my dreams that BITCOIN fixes this mess with real-estate that inflation has created.
I took a bottle of wine over, introduced myself , and asked the new owner when he planned on moving in ? He looked at me and smiled and said, "These houses aren't for living in, they are for buying and selling"! When he saw the perplexed look on my face , he said, "why mess with tenants?, and why leave money in a bank ?". He went on to say that "he gets an inflation return of 8% on every dime he throws into the place, and the houses themselves have been popping up in price at 20% per year", and the tax benefits are huge".
Houses have become financial vehicles because of monitary and tax policies. It's sick that young couples have been pushed out. It's one of my dreams that BITCOIN fixes this mess with real-estate that inflation has created.