Buying property in the US right now
#21
(10-11-2020, 10:41 PM)dingdongditch Wrote: I checked out of the game. I bought property in Kansas and live off the grid in a town of 400.

It is strange when people you've never met know your name. There will be no women for the foreseeable future.

Good news.

www.swoopyourrighthand.com domain is available
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#22
(10-11-2020, 10:52 PM)churros Wrote:
(10-11-2020, 09:30 PM)LeBeau Wrote: As well, something to consider re: NYC

https://jamesaltucher.com/blog/nyc-is-de...heres-why/

Nah I don't buy these reports anymore. I find the arguments insubtantial. This guy is just retrospectively justifying the move out of town. Same thing with CA deserters.

People will be back here in one year or so, when they realize what it means to live in Kansas. Same thing with office jobs. Remote working won't fly for long.

There's no city in the US like NYC. I'm not glorifying it. Just that everywhere else in the US is a car-infested shit hole that you can't walk around. Maybe Chicago or Boston but they ultimately don't compare.

And the hot chicks haven't left NYC just let. I'll let you know when that happens! i.e. never. For better or worse, NYC is the capital of the western world.

edit: lol this blogger is the guy who makes the "bandwith" argument... but hey, he got my click and yours by claiming that "NYC is never coming back."

I get this perspective, but in my opinion we oughtta also give a honorable mention to Miami / Miami Beach as well.
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#23
(10-12-2020, 12:48 AM)billydingdong Wrote:
(10-11-2020, 10:41 PM)dingdongditch Wrote: I checked out of the game. I bought property in Kansas and live off the grid in a town of 400.

It is strange when people you've never met know your name. There will be no women for the foreseeable future.

Good news.

www.swoopyourrighthand.com domain is available

I suppose this is when you import the Filipina, Belorussian, or Mexican
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#24
(10-11-2020, 04:10 PM)billydingdong Wrote: If I'm truly going to invest in real estate, I'd rather it be as an LP in commercial properties (i.e. multifamily, office, industrial, retail) with a competent general partner with property management ideally outsourced.

PREEEEEAAAAACH!  Hopefully our handful of Bitcoin dupes will learn a thing or two with that bit of wisdom!   But you can lead a parched horse to water,.....
Have you ever noticed it is your haters who obsessively read your every post, comment on them with the most emotion, and expend so much energy desperately trying to engage you?  It's because haters are your greatest, most loyal, and dedicated fans; they just have not come to terms with it yet.  Enjoy them because they are the surest sign that you're slaying it in life!  Big Grin
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#25
(10-11-2020, 10:52 PM)churros Wrote: Nah I don't buy these reports anymore. I find the arguments insubtantial. This guy is just retrospectively justifying the move out of town. Same thing with CA deserters.

People will be back here in one year or so, when they realize what it means to live in Kansas. Same thing with office jobs. Remote working won't fly for long.

There's no city in the US like NYC. I'm not glorifying it. Just that everywhere else in the US is a car-infested shit hole that you can't walk around. Maybe Chicago or Boston but they ultimately don't compare.

And the hot chicks haven't left NYC just let. I'll let you know when that happens! i.e. never. For better or worse, NYC is the capital of the western world.

edit: lol this blogger is the guy who makes the "bandwith" argument... but hey, he got my click and yours by claiming that "NYC is never coming back."

I don't want to turn this into an NYC thread (we've got a separate thread for that!), though I wanted to reply to you and Suits.

Comparing NYC to Kansas is a straw man comparison. Of course very few would prefer to live in a small town in the Midwest over New York.

The comparison is NYC vs Miami, Los Angeles, Dallas, Nashville, San Diego, and various other cities that offer many valuable things. Better climate, for one. Which results in plenty of outdoor activities that don't really exist in NYC. Cheaper... sometimes much cheaper. Plenty of good restaurants and nightlife. The main downside is the lack of cultural activities (museums, Broadway, etc) and jobs. Unclear if NYC still has these advantages with culture being mostly closed and jobs being remote.

Also, we can't forget that the local and state leadership in NYC seems determined to keep the city in a quasi-lockdown for as long as possible (for better or worse). Let's take an optimistic scenario and say that there's enough people vaccinated to reduce new cases to zero (allowing the city to fully reopen) in late 2021. That means that the city will have been shut for almost two years. Are people really going to come flooding right back? I find it hard to believe.

Then again, I may be totally wrong. In that case, NYC real estate is an incredible investment right now.
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#26
(10-13-2020, 06:26 AM)Dali Wrote: Comparing NYC to Kansas is a straw man comparison.

I don't think "strawman" means what you think it does.
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#27
(10-13-2020, 06:26 AM)Dali Wrote: Then again, I may be totally wrong. In that case, NYC real estate is an incredible investment right now.

Is it? Prices don't seem to have changed much. Inventory remains lows, as others have said, and rent relief won't end until next year at the earliest. A lot still to happen before the greedy landlords will loosen their fists. And by that time, things will be getting back to normal.
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#28
NYC needs to clean house at the top & accept the fact that the city is bound to keep shrinking population-wise at this point in time.  They need to cut the fat within the public sector & allow the cost of running the city to shrink.  I wouldn't be surprised if there is an eventual bankruptcy restructuring in its future (like Detroit circa mid-2013).  Same goes for Chicago.

In conjunction with this, they obviously can't cave to the calls for "defunding the police" / BLM and must aim to preserve law & order by all means.

NY / NJ is still one of the busiest cargo / seaports in the USA.  Its airports, while less busy than before, are also among the busiest in America.  Even with a dying city, the surrounding metro area will probably stay afloat (again, see the Detroit example.  There are some suburbs near it full of spacious estates, leafy subdivisions, mansions, upscale condos & luxury cars where you're relatively insulated from the ills of the urban city).

And yes, greedy landlords need to start lowering rent prices in the city as well.
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#29
(10-14-2020, 04:17 AM)jordypip23 Wrote: NYC needs to clean house at the top & accept the fact that the city is bound to keep shrinking population-wise at this point in time.  They need to cut the fat within the public sector & allow the cost of running the city to shrink.  I wouldn't be surprised if there is an eventual bankruptcy restructuring in its future (like Detroit circa mid-2013).  Same goes for Chicago.

In conjunction with this, they obviously can't cave to the calls for "defunding the police" / BLM and must aim to preserve law & order by all means.

NY / NJ is still one of the busiest cargo / seaports in the USA.  Its airports, while less busy than before, are also among the busiest in America.  Even with a dying city, the surrounding metro area will probably stay afloat (again, see the Detroit example.  There are some suburbs near it full of spacious estates, leafy subdivisions, mansions, upscale condos & luxury cars where you're relatively insulated from the ills of the urban city).

And yes, greedy landlords need to start lowering rent prices in the city as well.

The problem is there is no appetite for change like before in the Pataki/Giuliani/Bloomberg era. Slowly year after year DSA types are pushing out the Cuomo establishment cut crew. As for the suburbs, I'm actually not so sure, it depends on what happens with the schools and taxes (property/unions) If you work remotely and are skilled, hard to see how Westchester or LI are good value propositions. And many people  in the burbs who earn around 100k+ support these DSA types.  

For now people are moving to the outer suburbs, but more people means more density, which ruins the appeal in the first place.
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#30
(10-14-2020, 04:17 AM)jordypip23 Wrote: NYC needs to clean house at the top & accept the fact that the city is bound to keep shrinking population-wise at this point in time.  They need to cut the fat within the public sector & allow the cost of running the city to shrink.  I wouldn't be surprised if there is an eventual bankruptcy restructuring in its future (like Detroit circa mid-2013).  Same goes for Chicago.

In conjunction with this, they obviously can't cave to the calls for "defunding the police" / BLM and must aim to preserve law & order by all means.

NY / NJ is still one of the busiest cargo / seaports in the USA.  Its airports, while less busy than before, are also among the busiest in America.  Even with a dying city, the surrounding metro area will probably stay afloat (again, see the Detroit example.  There are some suburbs near it full of spacious estates, leafy subdivisions, mansions, upscale condos & luxury cars where you're relatively insulated from the ills of the urban city).

And yes, greedy landlords need to start lowering rent prices in the city as well.

While I agree with most of this, this may be construed as political.
If you haven't met anyone, I'll assume you're lying (h/t to Teedub from the old forum)
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#31
(10-14-2020, 04:17 AM)jordypip23 Wrote: NYC needs to clean house at the top & accept the fact that the city is bound to keep shrinking population-wise at this point in time.  They need to cut the fat within the public sector & allow the cost of running the city to shrink.  I wouldn't be surprised if there is an eventual bankruptcy restructuring in its future (like Detroit circa mid-2013).  Same goes for Chicago.

This is a wet dream for the NYC haters but it's never going to happen. Or in Chicago for that matter. Why exactly do you think the population is "bound" to continue shrinking? Only the transients have left. The public sector is already completely underfunded so it's laughable to make that argument.
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#32
(10-14-2020, 02:51 PM)Scythianchad Wrote:
(10-14-2020, 04:17 AM)jordypip23 Wrote: NYC needs to clean house at the top & accept the fact that the city is bound to keep shrinking population-wise at this point in time.  They need to cut the fat within the public sector & allow the cost of running the city to shrink.  I wouldn't be surprised if there is an eventual bankruptcy restructuring in its future (like Detroit circa mid-2013).  Same goes for Chicago.

In conjunction with this, they obviously can't cave to the calls for "defunding the police" / BLM and must aim to preserve law & order by all means.

NY / NJ is still one of the busiest cargo / seaports in the USA.  Its airports, while less busy than before, are also among the busiest in America.  Even with a dying city, the surrounding metro area will probably stay afloat (again, see the Detroit example.  There are some suburbs near it full of spacious estates, leafy subdivisions, mansions, upscale condos & luxury cars where you're relatively insulated from the ills of the urban city).

And yes, greedy landlords need to start lowering rent prices in the city as well.

The problem is there is no appetite for change like before in the Pataki/Giuliani/Bloomberg era. Slowly year after year DSA types are pushing out the Cuomo establishment cut crew. As for the suburbs, I'm actually not so sure, it depends on what happens with the schools and taxes (property/unions) If you work remotely and are skilled, hard to see how Westchester or LI are good value propositions. And many people  in the burbs who earn around 100k+ support these DSA types.  

For now people are moving to the outer suburbs, but more people means more density, which ruins the appeal in the first place.

You brought up a good point about LI & Westchester County.  This is why a lotta folks that look at Westchester County NY are hopping right over the border to Fairfield County in SW Connecticut.  Sure, it might also be a very expensive area (Greenwich CT is quintessential old money meets new hedge fund money society), but the property taxes are far more reasonable compared to those in Westchester County NY & the other counties surrounding NYC in NY & NJ states.  Then let's not even get started with the folks that have decamped to South Florida and other parts of the USA.
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#33
(10-12-2020, 06:57 AM)jordypip23 Wrote:
(10-11-2020, 10:52 PM)churros Wrote:
(10-11-2020, 09:30 PM)LeBeau Wrote: As well, something to consider re: NYC

https://jamesaltucher.com/blog/nyc-is-de...heres-why/

Nah I don't buy these reports anymore. I find the arguments insubtantial. This guy is just retrospectively justifying the move out of town. Same thing with CA deserters.

People will be back here in one year or so, when they realize what it means to live in Kansas. Same thing with office jobs. Remote working won't fly for long.

There's no city in the US like NYC. I'm not glorifying it. Just that everywhere else in the US is a car-infested shit hole that you can't walk around. Maybe Chicago or Boston but they ultimately don't compare.

And the hot chicks haven't left NYC just let. I'll let you know when that happens! i.e. never. For better or worse, NYC is the capital of the western world.

edit: lol this blogger is the guy who makes the "bandwith" argument... but hey, he got my click and yours by claiming that "NYC is never coming back."

I get this perspective, but in my opinion we oughtta also give a honorable mention to Miami / Miami Beach as well.

I disagree with the perspective. Cities like NYC, SF are pricing themselves right out of existence. Why pay 4K or more for a small apartment when you can pay less than half of that for more space and have the freedom to work remotely. Sorry I'm not buying the idea that remote working is a passing fancy. Talk to some corporate bigshots or top line HR people and learn of their long term plans. Covid is going to have affects that ripple widely. I don't believe that NYC is dead forever but I do believe the glory days are gone at least in the immediate future. I could give a more coherent detailed argument but then I would be on warning again.
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#34
(10-15-2020, 03:41 PM)Viejo Sabio Wrote: Sorry I'm not buying the idea that remote working is a passing fancy. Talk to some corporate bigshots or top line HR people and learn of their long term plans.

How many corporate bigshots and HR people have you talked to exactly?


Quote:I could give a more coherent detailed argument but then I would be on warning again.

Let me guess, riots, public sector, immigration, identity politics, jews? Wink
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#35
(10-15-2020, 03:41 PM)Viejo Sabio Wrote: I disagree with the perspective. Cities like NYC, SF are pricing themselves right out of existence. Why pay 4K or more for a small apartment when you can pay less than half of that for more space and have the freedom to work remotely.

1. Access to quality pussy.
2. Most people don’t want to leverage a lower cost of living by relocating to a corrupt, disorganized country with low quality infrastructure.
3. The allure of status.
4. Most other places are boring.
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#36
(10-16-2020, 09:39 AM)Suits Wrote: 3. The allure of status.

I think the issue here is that a lot of people wanted status by proximity. High-status people would pay premiums to be close to high-status jobs, but then there's the waitress who thinks she's absorbing status through osmosis and think she's better than the tourists, etc., which would drive a low-end market for overpriced housing.

I'm not sure what's going to happen now. Something like 50% of all Manhattan workers were out-of-state commuters, and if a good chunk of those go work-from-home on a permanent basis, and those that do will be tilted toward high-earners, even if they remain in the area and come into the city for meetings once a week, they'll be taking their state tax revenue back to CT/NJ/PA as well as all the knock-on money that came from tipping the waitresses, etc. Something like 1/5 of the entire state budget comes from taxing Wall Street and the money it blows in Manhattan.

So what happens when all the status lives in CT or even FL logging in remotely and the city can't run garbage trucks?

All I know is these things move in cycles and the Bad Old Days made a lot of people who were able to get in on the ground floor very rich.
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#37
Can't say much about NYC, but Miami as well as Tampa are absolutely booming.

Tons of rich people moved down here during the Pandemic, and before that even Miami was the #4 fastest growing city in America, and Tampa was #9.

Miami real-estate is ridiculously expensive, but Tampa is actually not that bad. I plan on getting some myself and I'm not even 25.

On work from home... It's a scam actually to pull the rug from out under the middle class. I was talking with a C-Suite dude the other day, this guy was going hard during the .com days, and basically he said that nobody can really innovate right now, especially on a Zoom call of all things. He told me that WFH isn't going to last long.

Some hair on the back of my neck, my "bullshit" detector flashes code red when they say that "work from home" is going to be the new normal. Will it last for an extended time? Sure, don't see why not, but EVENTUALLY they can just be like "Oh, sorry it wasn't working Goyim" and pull the rug out.

I think they're going to let those masses move way far away, let Timmy make friends at his new school, buy a new house, and when the time is right they are going to outsource ALL of those kind of jobs to India. Any work that can be outsourced will be outsourced is what I'm being told. Granted, this will take years to happen, but it's the perfect scam.

TLDR, Work from home is a scam in order to pull the rug out from under the middle class masses later on.

Why pay a SoyBoy to be a "Data Scientist" for 200k remotely when they can use a Indian guy for the Indian equivalent of 200k? Or even a very skilled Ukranian dude?
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#38
(10-16-2020, 03:02 PM)SunnyFL Wrote: Can't say much about NYC, but Miami as well as Tampa are absolutely booming.

Tons of rich people moved down here during the Pandemic, and before that even Miami was the #4 fastest growing city in America, and Tampa was #9.

Miami real-estate is ridiculously expensive, but Tampa is actually not that bad. I plan on getting some myself and I'm not even 25.

On work from home... It's a scam actually to pull the rug from out under the middle class. I was talking with a C-Suite dude the other day, this guy was going hard during the .com days, and basically he said that nobody can really innovate right now, especially on a Zoom call of all things. He told me that WFH isn't going to last long.

Some hair on the back of my neck, my "bullshit" detector flashes code red when they say that "work from home" is going to be the new normal. Will it last for an extended time? Sure, don't see why not, but EVENTUALLY they can just be like "Oh, sorry it wasn't working Goyim" and pull the rug out.

I think they're going to let those masses move way far away, let Timmy make friends at his new school, buy a new house, and when the time is right they are going to outsource ALL of those kind of jobs to India. Any work that can be outsourced will be outsourced is what I'm being told. Granted, this will take years to happen, but it's the perfect scam.

TLDR, Work from home is a scam in order to pull the rug out from under the middle class masses later on.

Why pay a SoyBoy to be a "Data Scientist" for 200k remotely when they can use a Indian guy for the Indian equivalent of 200k? Or even a very skilled Ukranian dude?

I do agree with the first sentence. When cities like NYC, SF, CHI ,etc lose and they are losing and will continue to, others will benefit. Nothing lasts forever. I grew up and had some prosperous adult years in Chicago and spent quite a bit of time in NYC. Breitbart did a recent column on the two tiered economy that is now Chicago. Same thing in many other mega metro areas. Hey Suits, respect you and never will match you in reps but people and businesses are affected by price, stability or lack thereof, crime and the like. Who the hell wants a business in the middle of CHOP, CHAZ or whatever the hell they called it. NYC had the most pronounced drop in violent crime in the history of urban America. Those policies are being dismantled and yes they have an effect no matter how much dough some of you make or how many hot chicks you are banging. Not only that but we have an important election coming up. That should be interesting.  https://www.breitbart.com/politics/2019/...h-or-poor/
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#39
Outsourcing low level development work is simple, but when you hire a data scientist you're not just paying them to bash out code. You're paying for their domain knowledge and experience. The more complex your product the harder it is to outsource.

Early on I worked for a company that had its entire development team in a third world country. Know what happens when you do that? You end up with a buggy product that breaks down for reasons nobody understands.

I don't think working from home will become standard but we may see growing flexibility in the way people work.
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#40
(10-16-2020, 03:02 PM)SunnyFL Wrote: On work from home... It's a scam actually to pull the rug from out under the middle class. I was talking with a C-Suite dude the other day, this guy was going hard during the .com days, and basically he said that nobody can really innovate right now, especially on a Zoom call of all things. He told me that WFH isn't going to last long.

Some hair on the back of my neck, my "bullshit" detector flashes code red when they say that "work from home" is going to be the new normal. Will it last for an extended time? Sure, don't see why not, but EVENTUALLY they can just be like "Oh, sorry it wasn't working Goyim" and pull the rug out.

I think they're going to let those masses move way far away, let Timmy make friends at his new school, buy a new house, and when the time is right they are going to outsource ALL of those kind of jobs to India. Any work that can be outsourced will be outsourced is what I'm being told. Granted, this will take years to happen, but it's the perfect scam.

Here's further proof to fuel your theory:

https://www.npr.org/2020/10/14/923428794...ile-zoom-c

"Now members of the C-suite have gone full boomerang on Zoom meetings. After finding them awesome and productive at first, they're now questioning how much they really achieve and are suggesting they lead to a sterile work culture lacking in imagination"

It seems that a few CEOs of large companies are pulling a 180 and suggesting that work from home, although convenient during a global pandemic, is bad for business in the long run as it puts a hamper on both productivity and creativity.  I see this as fantastic news to be honest.  I'm hoping that with the passing of the pandemic a lot of these companies will start requiring people to get back in the office and away from working remotely in places like Florida and Texas.  Best case scenario...a lot of our new South Florida residents could end up dumping their places to get back up to NY.  Otherwise South Florida will turn into the next California/Manhattan with an impressively high COL and state taxes to boot. 

I'm biased and say this mostly because I live in South Florida and full on loath people from the NE on a cellular level. They should all pick up their ball and go back to where they came from.  Also I can clear a quarter mil on a good year and even with that I'm gonna have a hard time buying a house going forward if I choose to do so.  It's absolutely mind blowing what is going on down here with regard to the housing market.  It's almost too late if you haven't already bought in already.
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