Well, that’s kind of the purported intent…to not force people who’ve lived in their houses for much of their lives sell because they can no longer afford property taxes.
The problem is that this tax treatment survives those elderly residents when passed down. And worse, survives essentially in perpetuity for things like member-owned golf courses, including LACC, Riviera, Wilshire, etc.
I had been meaning to look up what happens when these houses are passed down, so thanks for that info. It’s crazy that it’s transferable like that, no reason to ever sell.
If someone’s basis in the house is (presumably) very low and the house worth significantly more.
Keep in mind that as long as the home is your primary residence, tax law allows for you to earn $500k (Married) and $250k (single) tax-free. Not a bad payout if you can sell the house for huge profit with nearly no work into it.
To someone’s point mentioned above, you may be able to earn an excess yield investing money. But you’ll still have capital gains tax to pay at some point on investments, acknowledging cap gains tax is favorable to ordinary income. You’d also have to quantify risk in investing and weather market fluctuations, many people simply get shaken out of markets when the stock market is down instead of truly investing to hold long term. (Turn on stock channels any given day… they tell you about stocks up / stocks down… it doesn’t matter if you’re horizon is long term)
Disclosure: I’m always in for a little business and finance discussion… consider the above personal opinion, go do your own research.
After living in more than a dozen different states I am still baffled by valuations on real estate. The rent vs buy decision has been different in each location we have lived. We’ve done both and have been happy with our decision each time.
For our place in Hawaii it was a no brainer for us to rent. If there is a more inflated real estate market I’d be surprised. What surprised me is how many people think we are stupid for renting instead of buying…“you know Hawaii real estate always goes up there’s only so much land on the island.”
Running the numbers on the NY times calculator it indicated buying would have an equivalent rent of approximately $12,500/month. Our rent $4,500.
One of the reasons we left Chicago. We started looking to buy in Oak Park. OP has better schools than the city but still has two L trains servicing it and is very walkable. The price range we were looking to buy in yielded some property tax amounts that were competing with the principal and interest payments per month. Not ever going to do that. Especially not in Illinois, a place where the austerity measures are coming soon as they try to claw their way back to financial solvency.
Wow. That is insane. I would have moved as well.
Insane idea here, but bear with me.
I’m going to recommend to people that, if they would like to change the topic of discussion, that they start a thread on the topic instead of hijacking every single thread on this board. I know right!? Who knows if it’ll work but perhaps we can try it out.
100%.
Also, is there a way each user can be given a limited number of posts per day to use and when they’re gone, they’re done?
Engagement is great, but we’ve got multiple refugees posting 350, 600, even 1,200 posts a month and at that rate it’s 99% noise and 1% signal.
I come here for the noise myself. I would only look at this place once a month if it was just “hey guys I’m new here I am playing streamsong next year, any advice on which pin placements I should go for the pin on” or “great job on the new video NLU guys you guys are so funny”. This place is addictive because of the rabbit holes we go down. It may not be best for the NLU guys trying to attract new fans, and I somewhat understand the new topic idea, but I’m just being honest about what makes the refuge unlike any other place on the Internet and I’d hate to see that change.
it’s why I created the The Rambling/Anything Thread but one of the hard parts of a board with this many active participants is they all just go with the flow…
correct, the noise is what makes this place so special. its what makes it a community and what forms the bonds…come on, feel the noise
I mean, to be fair, Strapped - Reno is over now. We loved it, we laughed, we cried, and now it’s time to talk about mortgages until the next game show starts.
Hi Scott -
Seems to me there’s two ways to increase this ratio, which - let’s be clear - is an opinion and not a fact.
Create more signal. I looked at your profile, and seems you only post a couple times a day, if even that many. You have a voice, why not use it? I’m sure some of us here (including myself) would really like to hear what you have to say. There’s plenty of room in the “noise” for new users to establish themselves, and even “game shows” for lurkers to be put in the spotlight and welcomed into the community. Maybe you should DM Laz and get yourself a spot on a game show? That would be cool, we’d like to have you here.
Limit the “noise” by creating “rate limits”, or “community voting” so you only see good content (Reddit, anyone? Yikes). Part of what makes this place great is that anyone has an unlimited voice (except for perhaps a new user on their first day. But on their second day, they get it! And can request more posts if they hit the limit. We’ve seen this in WWTBAM.). The unlimited voice, unlimited topics (actually - these aren’t unlimited) mentality allows people to connect on any number of topics, from the “Dad Thread” to the “Therapy Couch” to the “Tourist Sauce” commentaries. These threads allow people to strip away their anonymity and be human - which is possibly my favorite thing in the entire world.
As others have said, I (and others) wouldn’t be here if it was a boring, bland, golf-only forum. If you really want that, go enjoy GolfWRX, or Sand Trap, or Hackers Paradise, or GCA, or, whatever.
And if you agree with Soly about “not hijacking threads” (and hijacking is fully what you did), maybe you should go post your feedback here:
(Damn! I’m out of likes again. Maybe if you guys stopped producing good content I wouldn’t run out of likes! … that’s not how that should work.)
Also - wasn’t this tiring to read? Maybe “rate-limited” long, drawn-out posts isn’t a good thing either. cc: RACDGNE.
I can totally see @Soly ‘s point. If someone saw Strapped, loved it, visited The Refuge and found this thread it’d be pretty disappointing to them.
The noise is the spice of the Refuge, but perhaps we need to make new threads and link them before the thread drift kicks in to the tune of 200+ posts.
cc: @3wiggle for your community service here
edit: I’ve copied the posts over into the Refuge Feedback thread so we don’t hijack this space for feedback of all things.
I think this is a fair point, especially for the #content threads. We can probably do better.
Brown-noser
