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Comment: Re:It's not arrogance if... (Score 1) 262

by adri (#47659417) Attached to: Silicon Valley Doesn't Have an Attitude Problem, OK?

Profit or no profit, if he wanted to continue living in New York but needed to move, he can't move sideways. Not even slightly down. He'd be moving a _lot_ down.

It's a house. It's not necessarily being rented out. It's a place he can actually live. Profit shouldn't be the overriding thing here. The OP seemed to indicate he was living there, not renting it out. Where's he going to move to and find work?

Comment: Re:It's not arrogance if... (Score 3, Insightful) 262

by adri (#47651899) Attached to: Silicon Valley Doesn't Have an Attitude Problem, OK?

Hi!

I don't think you understand what he said entirely.

He said that he can't actually sell his place without incurring a very large tax penalty that would come out of his pocket and affect his ability to buy another property. In short, he's stuck at the level he is without being able to move up or sideways. He's being forced to move /down/ in the property market. He didn't mention how much he earned and it's mostly irrelevant here - the money he'd lose in the gains tax would result in nowhere near enough money to buy another place in that area.

So yes, it's a shitty situation - it's /making/ property speculation and renting the fiscally responsible thing to do. That's just plain stupid.

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