- Joined
- Jul 22, 2017
ppp did get jersh about the mansion thing. A $1 million dollar house in a coastal city is basically nothing, that's like the minimum. You're out in the suburbs if you want to pay less than 7 figures.
The real way to look at someone like Dick bragging about his property is that he bought real estate at a massively inflated prices because he was competing with foreign (Chinese) speculators. Now all these real estate bubbles are on the verge of popping due to to the Shanghai Shivers. Dick is holding the bag, he's about to lose money, he's holding a toxic asset, and I bet you all these governments are going to raise property taxes at the same time because they simply cannot afford to take in less tax at this time. That's fine if you bought a house you can afford, and plan to actually live in. But anyone holding multiple properties, or renting them out are totally fucked.
The real way to look at someone like Dick bragging about his property is that he bought real estate at a massively inflated prices because he was competing with foreign (Chinese) speculators. Now all these real estate bubbles are on the verge of popping due to to the Shanghai Shivers. Dick is holding the bag, he's about to lose money, he's holding a toxic asset, and I bet you all these governments are going to raise property taxes at the same time because they simply cannot afford to take in less tax at this time. That's fine if you bought a house you can afford, and plan to actually live in. But anyone holding multiple properties, or renting them out are totally fucked.