Quote:
Originally Posted by OneHungLo
There's a big difference between tax deferred and a tax write-off. I guess all the people that have Roth IRAs are leeches as well?
And whole premise of your argument is that I'm a leech and artificially raising real estate prices by buying and renting multifamily properties is laughable. I guess you could make an argument that people buying up real estate, specifically real estate that the income doesn't cover the expenses for a tax write-off could possibly affect home prices (supply vs demand), but that's not what I do here because the tax laws don't allow me to do it.
But again, I don't know enough about negative gearing to make a statement. Like I said, on its face you could say buying up all those properties just for a TAX WRITE-OFF will most likely raise the prices and price people out of the market (BAD), but then again many people have their net worth tied up in their homes so their net worth rises and ancillary effects of higher priced property such as higher property taxes would be good for the city/town (GOOD).
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everybody who speculates on housing is a leech...you see the banks literally print money out of thin air and this creates debt and inflation...how much did prices of real estate rise in the USA in the last 10 years? Like 100%?
the ones with access to the printed-out-of-thin-air money leech off of those who do not have access to it...it is undemocratic allocation of money and creating debt that is payed off by working people and the money goes to leeches and parasites...
whether its tax differed or a write off makes little difference...the core idea of real estate investing is parasitic...this is why homes in san francisco for example cost 1.000.000$
how every you look at it, no matter how many people have their net worth in it, it is a parasitic practice...
also banks prefer this speculative investment over investment in creating jobs for example...it is classic trickle up...
you are a leech
