2024 Presidential Election Thread

[Jeff Lebowski]

It's certainly a part of the cost to borrow money to pay for the home, but 7% isn't prohibitive. It's the ballooning values that are the real problem.

And how would you propose that government would fix that?

[Moliere]

It's certainly a part of the cost to borrow money to pay for the home, but 7% isn't prohibitive. It's the ballooning values that are the real problem.

Yeah, 7% is not out of the norm for historical mortgage rates. It’s just been outside the norm since 2007 when rates got slashed during the Great Recession and they never recovered fully. House prices are probably inflated and will have to come down or wages will have to go up to fill that gap. The days of 4% mortgage rates are probably gone for a long time.

I don’t disagree with fusnik on this, as the data does show the economy has historically done better during the time a democrat is president. However, we give too much credit to the president for things he can’t fully control. Also, a presidents (or congresses) actual actions usually have impacts far down the road that can’t be measured only during their time in office. The housing crisis wasn’t all Bush’s fault as some of what led up to it came from the Clinton administration. Trump really shouldn’t be dinged for the slowdown during Covid and the subsequent loss of jobs and Biden shouldn’t be praised for creating so many jobs, since those jobs would have come back anyway.

[Uncle Ted]

And how would you propose that government would fix that?

How about increasing property taxes by 1500% on property held by non-us residents? Then when they default on their property taxes auction their houses off cheap. That should increase the supply. Let's put to a vote on the next ballot.

[Bo Diddley]

And how would you propose that government would fix that?

That's the million dollar question isn't it? Probably start by figuring out why it's happening.

I know in Utah Cox is trying a few things.

[Uncle Ted]

That's the million dollar question isn't it? Probably start by figuring out why it's happening.

I know in Utah Cox is trying a few things.

Maybe because the supply has been reduced and the demand has been increased. A lot of houses were purchased by investors and are being rented. The problem is they are getting tax breaks to do it. Hmmm... maybe the government should cut those tax breaks?

[Jeff Lebowski]

That's the million dollar question isn't it? Probably start by figuring out why it's happening.

I know in Utah Cox is trying a few things.

Low supply and high demand. This isn’t that complicated.

[USUC]

Low supply and high demand. This isn’t that complicated.

Biden knows how to fix this, subsidize demand!

[Uncle Ted]

Biden knows how to fix this, subsidize demand!

Yes, he put Kamala Momala, the border czar, in charge of this...

BorderCzar.jpg

[Jeff Lebowski]

Biden knows how to fix this, subsidize demand!

Ha. Exactly. This has worked so well for the student loan crisis.

[Jeff Lebowski]

Maybe because the supply has been reduced and the demand has been increased. A lot of houses were purchased by investors and are being rented. The problem is they are getting tax breaks to do it. Hmmm... maybe the government should cut those tax breaks?

Tell me what tax breaks the investors are getting for buying houses with cash.

Yes, investors buying homes is having a negative impact on supply but they are just reacting to market forces. There is a finite supply of real estate. As our population and our economy grows, pressure will continue to increase on housing prices.

But don't worry, if we continue to stop having kids and aborting our unborn kids, this problem will solve itself eventually. You can buy homes dirt cheap in Japan these days.

[beefytee]

Tell me what tax breaks the investors are getting for buying houses with cash.

Yes, investors buying homes is having a negative impact on supply but they are just reacting to market forces. There is a finite supply of real estate. As our population and our economy grows, pressure will continue to increase on housing prices.

But don't worry, if we continue to stop having kids and aborting our unborn kids, this problem will solve itself eventually. You can buy homes dirt cheap in Japan these days.

I’m been saying this for a while.

I’m not sure if I’ve mentioned it in the board, but when the boomers are about done dying off, there is likely to be a glut of houses available.

[Uncle Ted]

Tell me what tax breaks the investors are getting for buying houses with cash.

Yes, investors buying homes is having a negative impact on supply but they are just reacting to market forces. There is a finite supply of real estate. As our population and our economy grows, pressure will continue to increase on housing prices.

But don't worry, if we continue to stop having kids and aborting our unborn kids, this problem will solve itself eventually. You can buy homes dirt cheap in Japan these days.

Top 6 Breaks And Deductions for real estate investors

Another problem is the government has continually made it harder for acquiring permits for new construction. Not only harder but more costly. The reason for this is somewhat obvious. Old people more likely have their houses and young people less likely. Home owners don't want increased traffic, etc. driving their property's value down and increase demand on resources (water, electricity, etc) driving their costs up on their home. Therefore, they push for more limits on new permits. Old people are more likely to vote and keep in old people running the government. Young people are less likely to vote. So we have people like Grandpa Joe and Trump running government.

I have said this on this board many times but the baby boomers are eating our young.

[Bo Diddley]

Biden knows how to fix this, subsidize demand!

So what was the fix then?

[USUC]

So what was the fix then?

Deregulation and build build build. I beleive Utah is on the right track, but we are way behind. Utah is a great place to live and people want to be here. We can't all be like West Virginia.

[fusnik]

So what was the fix then?

Fed funds rate at 18-22%.

Massive spending on infrastructure and future development when treasuries are anything below 3.75%.

Expansion of FHA loans and decrease in lending costs for any buyer under 40.

Special tax breaks/credits to live in certain parts of the country.

Marry student loan forgiveness and living in certain area codes for a certain period of time.