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Old 02-10-2021, 12:44 PM
 
Location: Venice, FL
11,709 posts, read 3,497,784 times
Reputation: 7434

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I dont see this as a bubble. This is the beginning of a new work-from-home trend, that was exasperated by a pandemic.

Its also due to people fleeing high taxes and cost of living up North, which is another trend that is nowhere near ending anytine soon.

Long after the Covid-19 pandemic panic ends, these 2 trends will continue for years to come. We also have the back end of the Baby Boomers retiring, so its demographics too.
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Old 02-10-2021, 02:32 PM
 
Location: Venice, FL
11,709 posts, read 3,497,784 times
Reputation: 7434
Quote:
Originally Posted by beach43ofus View Post
I dont see this as a bubble. This is the beginning of a new work-from-home trend, that was exasperated by a pandemic.

Its also due to people fleeing high taxes and cost of living up North, which is another trend that is nowhere near ending anytine soon.

Long after the Covid-19 pandemic panic ends, these 2 trends will continue for years to come. We also have the back end of the Baby Boomers retiring, so its demographics too.
https://www.foxbusiness.com/personal...eduction-taxes

Just came across this article that says the experts agree with me that work from home is no a short-term trend.
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Old 02-10-2021, 09:20 PM
 
51 posts, read 14,322 times
Reputation: 67
well dav =e when the companies start getting flack from their own states' taxing authorities by not withholding tax from their employees who decided to move out of state, that work from home scenario is going to dry up - states aren't stupid when it comes to collecting tax, and neither is the IRS.....just watch Mr P, this trend of working for a company that is domiciled in one state and has employees deciding to move to Florida thinking they don't have to pay taxes to that state, is going to dry up so quickly it will make your head spin...


It looks good right now but states aren't going to give all of these relos a pass indefinitely....and you will see another crash/correction in this very much OVERPRICED market
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Old 02-11-2021, 08:26 AM
 
190 posts, read 80,622 times
Reputation: 263
Quote:
Originally Posted by beach43ofus View Post
https://www.foxbusiness.com/personal...eduction-taxes

Just came across this article that says the experts agree with me that work from home is no a short-term trend.
I work for a Large Fortune 500 company. There is no plan to open all the offices back up. Manhattan prices are about to CRASH.
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Old 02-11-2021, 08:35 AM
 
29 posts, read 15,306 times
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Quote:
Originally Posted by joshan View Post
I work for a Large Fortune 500 company. There is no plan to open all the offices back up. Manhattan prices are about to CRASH.

I am seeing the same thing with my company. I worked from home everyday as a remote employee in Nashville for a company based in San Jose. This is part of what afforded the opportunity for us to buy a condo in Bradenton a year and a half ago since I can work down there whenever I want. We are a tax, audit and consulting firm with 4 offices in California and there is contingency planning of having many of our staff work from home going forward aside from those that have more specific reasons to be in the office, which is mostly those that work in our tax and audit divisions. Companies are seeing the opportunity to reduce rent/lease costs and offer the opportunity for employees to save time and money on commutes. As many others noted and I agree as well, the work from home trend will not completely die off once the pandemic passes.
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Old 02-11-2021, 08:37 PM
 
Location: Venice, FL
11,709 posts, read 3,497,784 times
Reputation: 7434
Wishful thinking? I dont see this happening.

Quote:
Originally Posted by bab_LeBeau View Post
well dav =e when the companies start getting flack from their own states' taxing authorities by not withholding tax from their employees who decided to move out of state, that work from home scenario is going to dry up - states aren't stupid when it comes to collecting tax, and neither is the IRS.....just watch Mr P, this trend of working for a company that is domiciled in one state and has employees deciding to move to Florida thinking they don't have to pay taxes to that state, is going to dry up so quickly it will make your head spin...


It looks good right now but states aren't going to give all of these relos a pass indefinitely....and you will see another crash/correction in this very much OVERPRICED market
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Old 02-11-2021, 08:39 PM
 
Location: Venice, FL
11,709 posts, read 3,497,784 times
Reputation: 7434
Quote:
Originally Posted by joshan View Post
I work for a Large Fortune 500 company. There is no plan to open all the offices back up. Manhattan prices are about to CRASH.
I totally agree. I have a friend who just bought a condo on the West side of Manhattan for $1M+, who I think is going to lose hit azz.

Time will tell. Lets revisit this in a year.
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Old 02-12-2021, 09:30 AM
 
51 posts, read 14,322 times
Reputation: 67
Key states, counties and municipalities are NOT going to continue to lose tax revenue, do you actually think the Federal government/IRS, state legislatures et al are not going to tweak the tax laws and regulations for companies actually BASED in one state and has NO corporate presence in another, other than some s c h m u c k living on the golf course or his boat clickity-clicking on 2 computers and doing zoom calls??


If you believe that, you don't understand state legislatures, county commissions and local taxing authorities.......not to mention the IRS and its ability to mess you up with "home office deductions", and "business purpose use".


The Big Monkey is "gonna get His". The laws SHALL be tweaked but not immediately.


(Do you actually think NYC, SanFran, Chicago are going to continue to hemorrhage revenue in the longer run?)


Get real. Enjoy it while you can. My background? Wall Street/Private Equity/Municipal Finance
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Old 02-13-2021, 01:53 PM
 
Location: Venice, FL
11,709 posts, read 3,497,784 times
Reputation: 7434
Quote:
Originally Posted by bab_LeBeau View Post
Key states, counties and municipalities are NOT going to continue to lose tax revenue, do you actually think the Federal government/IRS, state legislatures et al are not going to tweak the tax laws and regulations for companies actually BASED in one state and has NO corporate presence in another, other than some s c h m u c k living on the golf course or his boat clickity-clicking on 2 computers and doing zoom calls??


If you believe that, you don't understand state legislatures, county commissions and local taxing authorities.......not to mention the IRS and its ability to mess you up with "home office deductions", and "business purpose use".


The Big Monkey is "gonna get His". The laws SHALL be tweaked but not immediately.


(Do you actually think NYC, SanFran, Chicago are going to continue to hemorrhage revenue in the longer run?)


Get real. Enjoy it while you can. My background? Wall Street/Private Equity/Municipal Finance
Municipalities cannot always tax themselves out of financial trouble:

https://www.pewtrusts.org/en/researc...-past-20-years

Detroit was $18B in the Red when they filed bankrupcy according to this article. Chicago is teetering on bankrupcy now. Their pension funds are grossly underfunded.
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Old 02-13-2021, 06:23 PM
 
51 posts, read 14,322 times
Reputation: 67
Quote:
Originally Posted by beach43ofus View Post
Municipalities cannot always tax themselves out of financial trouble:



You are CORRECT about municipalities !! but the FEDs/IRS CAN !!


Go back to sleep

Dave P
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