Re:Goodbye, New York, California and Illinois – Hello where?
by jelliclesfarm on Friday January 17, 2020 @09:38PM
(#22081832)
Most people have rental properties as investment properties.
Example: a 1 million dollar home rents for about 3500-4000/month in my Bay Area city. 10% goes to management company. And insurance is another expense, it’s not a lot.
Assessed value of a million dollar at current rates would be around $12k without parcel taxes or special special taxes added which can be another 3-6k extra.
It leaves about 2000-2500 as income. Assuming the home is completely paid off. If there is a mortgage or if it’s refinanced, there won’t be much of an income.
Rental income is considered income and subject to income tax.
Rents will RISE making housing even more affordable if people 13 is repealed. Any form of taxation is only designed so the house..aka the govt...wins. The house always wins.
Lobbies with housing interests are simply making home owners the villains...while the problem is lack of public transport, infrastructure and proper city planning and commercial zoning.
It’s easy to make seniors(who have no PR companies or lobbies) the villains or hard working people who have one or two rental properties as income nest eggs because they don’t have pension funds or stock options.
The Silicon Valley tech workers act like they are sharing and passing around a single brain cell amidst themselves when it comes to housing issues in the Bay Area. It’s mind boggling how easy it is to manipulate people into a mob when a nameless faceless villain who can’t be identified is painted to be the victimizer.
Example: a 1 million dollar home rents for about 3500-4000/month in my Bay Area city. 10% goes to management company. And insurance is another expense, it’s not a lot.
Assessed value of a million dollar at current rates would be around $12k without parcel taxes or special special taxes added which can be another 3-6k extra.
It leaves about 2000-2500 as income. Assuming the home is completely paid off. If there is a mortgage or if it’s refinanced, there won’t be much of an income.
Rental income is considered income and subject to income tax.
Rents will RISE making housing even more affordable if people 13 is repealed. Any form of taxation is only designed so the house..aka the govt...wins. The house always wins.
Lobbies with housing interests are simply making home owners the villains...while the problem is lack of public transport, infrastructure and proper city planning and commercial zoning.
It’s easy to make seniors(who have no PR companies or lobbies) the villains or hard working people who have one or two rental properties as income nest eggs because they don’t have pension funds or stock options.
The Silicon Valley tech workers act like they are sharing and passing around a single brain cell amidst themselves when it comes to housing issues in the Bay Area. It’s mind boggling how easy it is to manipulate people into a mob when a nameless faceless villain who can’t be identified is painted to be the victimizer.