When the feds are going to print money, the dollar becomes a hot potato. They aim to get rid of it as soon as possible. Sales go up in the short run. In the longer run, the economy is destroyed.
How does reducing capital gains make housing more affordable? Go back 50 or 60 years when houses were looked on as a necessity to raise a family and a place to live not an investment. When we bought our first house there was no competition from Wall Street speculators or Airbnb. Wouldn't reduce capital gains benefit those who buy houses for investment not for raising a family?
Capital gains tax is probably one of the most unjust taxes in existence.
The capital gain is false when the value of the dollar (fiat currency) which is used to measure the value of the asset is devalued or inflated away through money printing.
The asset's price in gold remains fairly constant but, when measured in dollars it has increased.
In other words the assets value in gold (real money) remains the same while the price in dollars increases. To tax this increase in price is criminal.
Yeah, and nothing makes it more clear than the governments who tax capital gains on gold itself. You paid tax on the money you used to buy the gold when you earned it, then the govt debases the currency in which the gold is denominated and taxes you on it again.
Capital gains tax is the primary reason I left the stock market 1999-2000. That and the rigged insiders' game. I've never regretted my move. Best always. PM
Members of Congress are nothing but money launderers. And when an independent journalist (Nick Shirley) exposes some of their fraud, they want to shoot the messenger. Cali wants to outlaw him.
Fed Spending is 7.4T - how much is waste/fraud? I'd say 50%!
Reduce interest rates to make houses more affordable? Why not just let the market decide what the interest rates should be? Don't you think that the suppression of interest rates byCentral Planning Committee, aka the Fed, caused the bubble in the housing market?
Makes one wonder as to why have any meaningful amount in a bank. What would it take 2% ? of depositors to withdraw and trigger insolvency in any number of banks. Who knows what rates out to be 15%? 18%, 20%? Credit card interest rates are what ? 22%
That was a nice feature of the early 80s. You could save money for a down payment in money market funds paying 15% interest. Now rates are suppressed for savers but not for your credit cards.
Those with high credit interest rates are generally not of a "sound/good credit risk/rating". I agree the banking/credit card cartel are taking full advantage of this situation, but the real answer is to not allow the credit in the first place.
Standing in the Walmart checkout line watching 4-5 credit cards gets swiped until one clears, is not happening to someone with "too little credit". My opinion only!
If the government were serious about housing affordability, reducing property taxes and capital gains would start the avalanche.
Interest rates would likely organically lower because of the competition in seeking home loans.
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At the moment the market is deciding homes are expensive and the government dependencies it seems would rather it remain so... despite the propagation otherwise.
Angry, says "reducing property taxes". Where I live Property Taxes are charged by the County Government and only paid by the "County" property owners. My county uses 6.50% of actual value on residential properties. So how are these "Governments" going to pay their bills?
Also, wasn't it the "2%-3%" rate a few years back that exposed the cost of housing?
He’s got to be kidding me reduce interest rates. I was just more government statist talk. Let the market set the rate. I myself I’m a fan of capitalism. Not setting interest rates.
I was in Buenos Aires in 1987/88 during the Austral currency, and prices were absurdly cheap in dollars while the locals were complaining how expensive everything was.
I built a house in Mexico City, 1967. Terms, in Pesos, were 25% down, interest 15%, term 10 years. We did not put in a telephone as the cost was $5000.00 USD. At this time the Mexican Government was bragging how "solid the Mexican Peso was" at ps$12.50:1 USD.
But, in spite the Mexico Oil Co, Pemex, producing US$ oil in the Gulf of Mexico, in 1969 the Mexican Peso started hitting the skids. I'm looking at an article that states "100 pesos in 1969 are equivalent to 1,127,968.92 today", for an average annual inflation rate of 18.49%.
Inflating away the value of one's currency is a disaster waiting to happen!
We sold house in 1972, moved back to the States. Took about a $25,000 US hit on the house, but if we would have been renting during those 5 years, plus tax deduction on interest paid...It was a net money maker for us.
How does reducing capital gains make housing more affordable? Go back 50 or 60 years when houses were looked on as a necessity to raise a family and a place to live not an investment. When we bought our first house there was no competition from Wall Street speculators or Airbnb. Wouldn't reduce capital gains benefit those who buy houses for investment not for raising a family?
Capital gains tax is probably one of the most unjust taxes in existence.
The capital gain is false when the value of the dollar (fiat currency) which is used to measure the value of the asset is devalued or inflated away through money printing.
The asset's price in gold remains fairly constant but, when measured in dollars it has increased.
In other words the assets value in gold (real money) remains the same while the price in dollars increases. To tax this increase in price is criminal.
Yeah, and nothing makes it more clear than the governments who tax capital gains on gold itself. You paid tax on the money you used to buy the gold when you earned it, then the govt debases the currency in which the gold is denominated and taxes you on it again.
Capital gains tax is the primary reason I left the stock market 1999-2000. That and the rigged insiders' game. I've never regretted my move. Best always. PM
Good for you. The problem however remains that investment in any asset gets the same iniquitous treatment.
It seems that the real business of government is organized crime. Without having to go to jail.
Members of Congress are nothing but money launderers. And when an independent journalist (Nick Shirley) exposes some of their fraud, they want to shoot the messenger. Cali wants to outlaw him.
Fed Spending is 7.4T - how much is waste/fraud? I'd say 50%!
Really huge success involves operating outside of the rules. "It's a big club, and you ain't in it." said George Carlin. Best always. PM
The "housing crisis" is so bad <sarc> there are over 10% homes still unoccupied.
The government ruse " housing affordability crisis" could be remedied in an afternoon.
Reduce -
capital gain tax
property tax
interest rates...
and watch housing soar!
Reduce interest rates to make houses more affordable? Why not just let the market decide what the interest rates should be? Don't you think that the suppression of interest rates byCentral Planning Committee, aka the Fed, caused the bubble in the housing market?
Makes one wonder as to why have any meaningful amount in a bank. What would it take 2% ? of depositors to withdraw and trigger insolvency in any number of banks. Who knows what rates out to be 15%? 18%, 20%? Credit card interest rates are what ? 22%
That was a nice feature of the early 80s. You could save money for a down payment in money market funds paying 15% interest. Now rates are suppressed for savers but not for your credit cards.
Those with high credit interest rates are generally not of a "sound/good credit risk/rating". I agree the banking/credit card cartel are taking full advantage of this situation, but the real answer is to not allow the credit in the first place.
Standing in the Walmart checkout line watching 4-5 credit cards gets swiped until one clears, is not happening to someone with "too little credit". My opinion only!
Interesting points and perhaps as you mentioned its credit in the first place.
Thats the crux.
Indeed, ironic isn't it.
If the government were serious about housing affordability, reducing property taxes and capital gains would start the avalanche.
Interest rates would likely organically lower because of the competition in seeking home loans.
-
At the moment the market is deciding homes are expensive and the government dependencies it seems would rather it remain so... despite the propagation otherwise.
Angry, says "reducing property taxes". Where I live Property Taxes are charged by the County Government and only paid by the "County" property owners. My county uses 6.50% of actual value on residential properties. So how are these "Governments" going to pay their bills?
Also, wasn't it the "2%-3%" rate a few years back that exposed the cost of housing?
Live within Your means . No?
Yes Harold, living behind the lines in SoCal.
Prop13 is the only protection preventing the collapse of the California housing market.
Many other state's counties charge obscene property tax rates.
Sacramento Gubernatorial candidate Becerra is envious, and wants in on the fracas...
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He has already announced his intent to divide and conquer prop 13.
Telling his gullible minions those nasty businesses are ripping everyone off!
As supermarkets and small businesses fold...
As big box and warehouses move away...
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Tax the rich!
To many with an annual income of $40k...... $80k is rich!
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Sacramento....
You know the 5th or 6th, or maybe 4th... "largest economy in the world"...
Is very desperate.
He’s got to be kidding me reduce interest rates. I was just more government statist talk. Let the market set the rate. I myself I’m a fan of capitalism. Not setting interest rates.
If housing took off, rates would organically drop due to competition.
The Fed would have to play ball...
I was in Buenos Aires in 1987/88 during the Austral currency, and prices were absurdly cheap in dollars while the locals were complaining how expensive everything was.
I built a house in Mexico City, 1967. Terms, in Pesos, were 25% down, interest 15%, term 10 years. We did not put in a telephone as the cost was $5000.00 USD. At this time the Mexican Government was bragging how "solid the Mexican Peso was" at ps$12.50:1 USD.
But, in spite the Mexico Oil Co, Pemex, producing US$ oil in the Gulf of Mexico, in 1969 the Mexican Peso started hitting the skids. I'm looking at an article that states "100 pesos in 1969 are equivalent to 1,127,968.92 today", for an average annual inflation rate of 18.49%.
Inflating away the value of one's currency is a disaster waiting to happen!
Did you benefit or did the Mexican government force a reset like they used to do in Brazil?
We sold house in 1972, moved back to the States. Took about a $25,000 US hit on the house, but if we would have been renting during those 5 years, plus tax deduction on interest paid...It was a net money maker for us.