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Old 05-21-2020, 10:38 AM
 
Location: New Jersey and hating it
12,197 posts, read 7,183,589 times
Reputation: 17462

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Quote:
Originally Posted by SeventhFloor View Post
You call home, savings, and stocks assets?

Thats what they give you to feel self-importance

LMAO

Only asset worth anything is land

Anything else is Lion Witch & Wardrobe level
If those are not worth anything, I will gladly take them all off your hands.
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Old 05-21-2020, 10:51 AM
 
33,896 posts, read 47,082,096 times
Reputation: 14184
Quote:
Originally Posted by antinimby View Post
If those are not worth anything, I will gladly take them all off your hands.
Sometimes they're not, LoL
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Old 05-21-2020, 12:00 PM
 
Location: Manhattan, NYC
1,274 posts, read 975,560 times
Reputation: 1250
Quote:
Originally Posted by SeventhFloor View Post
You call home, savings, and stocks assets?

Thats what they give you to feel self-importance

LMAO

Only asset worth anything is land

Anything else is Lion Witch & Wardrobe level
That's a bit harsh, no?

We have a bit of everything. Home, stocks and even lands... but lands are extremely illiquid and your only chance is that you happen to have some land in an area that got developed and you're the only land that has no building on it. And taxation for land only is not that great - understand, not favorable, depending on the jurisdiction. It works out better if you have the means to build a building and sell, but that requires additional funding, etc...

Not saying it's all bad, we just sold a land with maybe 400% profit in what, 6 years? Granted, abroad, but still, it's valuable capital gain. However, not all lands are that easy to sell is what I am trying to say, and it can go wrong plenty of ways.
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Old 05-21-2020, 12:26 PM
 
33,896 posts, read 47,082,096 times
Reputation: 14184
Quote:
Originally Posted by Gasolin View Post
That's a bit harsh, no?

We have a bit of everything. Home, stocks and even lands... but lands are extremely illiquid and your only chance is that you happen to have some land in an area that got developed and you're the only land that has no building on it. And taxation for land only is not that great - understand, not favorable, depending on the jurisdiction. It works out better if you have the means to build a building and sell, but that requires additional funding, etc...

Not saying it's all bad, we just sold a land with maybe 400% profit in what, 6 years? Granted, abroad, but still, it's valuable capital gain. However, not all lands are that easy to sell is what I am trying to say, and it can go wrong plenty of ways.
If you think it's a bit harsh then my message was effectively delivered.
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Old 05-21-2020, 12:39 PM
 
Location: New York City
19,061 posts, read 12,665,533 times
Reputation: 14781
Quote:
Originally Posted by Gasolin View Post
That's a bit harsh, no?

We have a bit of everything. Home, stocks and even lands... but lands are extremely illiquid and your only chance is that you happen to have some land in an area that got developed and you're the only land that has no building on it. And taxation for land only is not that great - understand, not favorable, depending on the jurisdiction. It works out better if you have the means to build a building and sell, but that requires additional funding, etc...

Not saying it's all bad, we just sold a land with maybe 400% profit in what, 6 years? Granted, abroad, but still, it's valuable capital gain. However, not all lands are that easy to sell is what I am trying to say, and it can go wrong plenty of ways.
Real estate as everyone knows is location location location

But really land is location, zoning, taxation, and most importantly price
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Old 05-21-2020, 04:44 PM
 
31,761 posts, read 26,716,490 times
Reputation: 24641
More immediate problem for city and state isn't residential, but commercial. Property tax payments are coming due and many LL's just don't have the money.

https://www.nytimes.com/2020/05/21/n...ronavirus.html
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Old 05-21-2020, 04:47 PM
 
15,803 posts, read 14,417,439 times
Reputation: 11861
It's kind of like gold. They do mine more, but it's only a tiny percentage of the total.

What percentage of NYC sits on landfill?

Quote:
Originally Posted by mathjak107 View Post
buy land will rogers said , they aint making anymore of it .

boy was he wrong as so many developments sit on landfill where the water once was .they can make all the land they want .
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Old 05-21-2020, 04:59 PM
 
31,761 posts, read 26,716,490 times
Reputation: 24641
Quote:
Originally Posted by BBMW View Post
It's kind of like gold. They do mine more, but it's only a tiny percentage of the total.

What percentage of NYC sits on landfill?
More than many imagine.

https://gizmodo.com/watch-new-york-c...ears-496440467
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Old 05-21-2020, 05:33 PM
 
106,270 posts, read 108,257,613 times
Reputation: 79811
Quote:
Originally Posted by BBMW View Post
It's kind of like gold. They do mine more, but it's only a tiny percentage of the total.

What percentage of NYC sits on landfill?
I have no idea but battery park city and co-op city are for starters
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Old 05-21-2020, 05:50 PM
 
31,761 posts, read 26,716,490 times
Reputation: 24641
Quote:
Originally Posted by mathjak107 View Post
I have no idea but battery park city and co-op city are for starters
FDR Drive is built upon rubble from WWII bombed out London. It was brought over by ship loads.....

Bellevue Hospital once was right along shoreline of East River, this explains why the place then and still now has a very bad rat problem. Indeed old nickname for Bellevue was "Rat Hospital" because place was over run with vermin. Norway rats prefer to live near water, in fact they must because like humans they need to drink. Hence you find rats all along piers, shorelines, etc... Worse the make their way onto ships at one port, then come ashore at another after hitching a ride.


https://www.boweryboyshistory.com/20...-bellevue.html
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