‘Brutal,’ ‘crazy’ housing market has Seattle-area homes selling half-million over asking price

[North of Death]

So you become just like your CAC boss by exploiting the poor. Owning your own house is one thing, but to be a vulture capitalist with no integrity to rent it to WORKING CLASS PEOPLE by overcharging them, just to stick it to CaCS, is counterproductive. You basically another CAC to the poor working class.​

If charging rent based on the current market rates makes me a CAC then so be it

 

[Godless Socialist CEO]

I have premium insurance if it does, build a newer unit and charge triple the rent

Mao did nothing wrong

 

[North of Death]

Mao did nothing wrong

When are you moving to North Korea?

 

[Godless Socialist CEO]

When are you moving to rth Korea?

Uhhhhh Mao isn’t Korean. He’s also very dead

 

[Conan]

Bruh you put a lot of work into this and I commend what you did here but most of these numbers are just all the way off.

$600k home with $40k down payment is $560,000 loan not a $540,000 loan, for example.

But let's even simplify this and take all the stock market stuff out for Breh A and just assume he simply bought and sold his house and paid taxes on it.

So a property worth $600,000 appreciating at 4.4% for 30 years will be worth $2,246,052.83
Breh A sells the house and is sitting (momentarily) on top of ($2,246,052.83 - $134,763.17[6%]) for a gross total of $2,111,289.67
That amount minus original property value of $600k minus $500k exemption gives us $1,011,289.67 that he has to pay taxes on.
Long-term capital gains on real estate is 20%, so breh ends up paying $202,257.93 in taxes for a final after-tax profit of $1,909,031.74
That's higher than the number you have here, without any stock market stuff.

Please check my math and let me know if I missed something.

Thanks breh for checking! Dap and rep.


So in my spreadsheet I'm compounding monthly, because it makes it easier to break out monthly expenses. Our final numbers may be a bit different, but yes, 600k appreciates to 2.175M using monthly compounding after 30 years.

I do think your math is off a bit too

Before tax profit would be selling price - buying price - selling costs (6%). You forgot to deduct the buying price from your final profit figure. Take 600K from 1.9M and you get 1.3M, which is in the ballpark of what I got.

 

[North of Death]

Uhhhhh Mao isn’t Korean. He’s also very dead

His influence is still present there

 

[BaldingSoHard]

Thanks breh for checking! Dap and rep.


So in my spreadsheet I'm compounding monthly, because it makes it easier to break out monthly expenses. Our final numbers may be a bit different, but yes, 600k appreciates to 2.175M using monthly compounding after 30 years.

I do think your math is off a bit too

Before tax profit would be selling price - buying price - selling costs (6%). You forgot to deduct the buying price from your final profit figure. Take 600K from 1.9M and you get 1.3M, which is in the ballpark of what I got.

I'm struggling to understand why would you deduct the $600k.
Wouldn't it already have been "deducted" in the form of mortgage debt upon taking on the loan?

 

[Godless Socialist CEO]

His influence is still present there

Lmao sure, I find it hilarious that someone who would double rent on his tenants is attempting to pass some kind moral
Judgement on anyone. No offense but you’re a pretty a terrible person and the type landlord that deserves all the shyt land lords get

 

[Spiritual Stratocaster]

And a lot of them are foreigners

Chinese hiding there money from their government

 

[Godless Socialist CEO]

@Wild Self is the only real Socialist on the Coli. #Respect

Excuse me mother fukker

 

[Godless Socialist CEO]

This is Socialism through and through. Alot of people don't understand Central Planning, Manipulated supply chain pricing, and Inflation

I mean what way to tell everyone you know absolutely nothing about what ur speaking on.

 

[North of Death]

Lmao sure, I find it hilarious that someone who would double rent on his tenants is attempting to pass some kind moral
Judgement on anyone. No offense but you’re a pretty a terrible person and the type landlord that deserves all the shyt land lords get

My properties are for temporary housing for nurses, they dont stay for more than 3 months...I doubled the rent on the next tenants because that is the market rate in my area...Business 101 fella...

 

[Payday23]

This is Socialism through and through. Alot of people don't understand Central Planning, Manipulated supply chain pricing, and Inflation

This is capitalism. Socialism would be government controlling the max/min price on sales and rent. The socialism part kicks in when the capitalist crash the market due to greed and the government bails them out.

 

[Godless Socialist CEO]

My properties are for temporary housing for nurses, they dont stay for more than 3 months...I doubled the rent on the next tenants because that is the market rate in my area...Business 101 fella...

I guess whatever you have to tell urself. “It’s just business”

 

[Godless Socialist CEO]

My properties are for temporary housing for nurses, they dont stay for more than 3 months...I doubled the rent on the next tenants because that is the market rate in my area...Business 101 fella...

It’s amazing how Americans have literally been brainwashed into thinking anything bad economically is socialism. Just wild stuff