Sniper

What's to stop them from passing a new, juiced budget, knowing they have a potential increase revenue source due to higher home valuations in the town, due to this recent spike in prices?

I agree... that sucks... and discriminatory!! I'm going to start claiming the dog as a child or dependent!

Go back and read what I originally posted. Bottom line, if the town reassess your house at a higher value, you'll be paying additional taxes. With housing prices jumping so much this year, you have to believe the towns want a slice of that pie.

Yep, like Biden meeting with his buddies at Blackrock recently. They will become the nation's landlord of record" BlackRock under fire amid reports private-equity firms are ‘snapping up single-family houses’ https://www.bizpacreview.com/2021/06/11/blackrock-under-fire-amid-reports-private-equity-firms-are-snapping-up-single-family-houses-1087586/

I did some digging around to see just how large of an issue this was. Reports were that at least 8 million to 10 million people were at the risk of eviction for non-payment. Compare that to a normal year of 3 million. I don't even know how accurate that 10 million is, or how they measure it, since so many landlords are mom and pop operations. In some states, like California, it said over 20% of renters aren't paying. Then add in the number of potential mortgage foreclosures, which are estimated in that 10+ million range too... Many of these landlords aren't paying their mortgages. Once the renters skip out (as you know they'll never pay back rent), how do the landlords pay back past due mortgages. Then add in all the private homeowners who haven't been paying their mortgages. Many recent houses sold in my area were FHA 3.5% down loans, These people have no skin in the game and no equity. Makes it easy to walk away. Trying to get a handle on the dark days of what's coming in the housing market is tough... how does this movie end???

Keep your eyes open, more Biden/Murphy Bucks are scheduled to start hitting today. Are you getting the $500 check? ....."About 760,000 middle class families are expected to receive rebate checks of up to $500 as part of the deal lawmakers and Gov. Phil Murphy reached last year to raise taxes on people who make more than $1 million a year. The checks go out soon, just months before Murphy and all 120 state lawmakers are up for election in November and hoping to maintain Democratic control of the state. https://www.usatoday.com/story/news/2021/06/28/nj-rebate-check-questions-answered/5344273001/ I thought "buying votes" was illegal????

That makes no sense. Go back and read what you posted. If the residents have to pay a higher percentage, of course the municipalities get more revenue....

That's what I think too. Even if you're OK telling your best buddy, you have no idea who else he talks to in his circle of friends. He could easily tell someone else in a conversation, "hey, I was over at John house, you should see all the firearms he has". So, loose lips sink ships, the less people who know what you have and where it's stored, the better. Even my wife doesn't know what's in my collection. My two boys have a better idea, since they go to the range with me. That's it. Some other family members know I own "something", but that's where it ends. Criminals aren't usually known to the sharpest knives in the drawer, and will attempt to break in and steal stuff, even with alarm systems. This is why I feel video surveillance is way better than alarm systems, so you will have video proof of what happened, not just an alarm going off.

Yep, that's the other thing that makes me really laugh, when people tell me they "own" their houses, "free and clear" and don't have a mortgage. I tell them try not paying your taxes, and you'll learn, really quick, who "owns" your house. When the eviction and mortgage moratoriums expire soon, watch out below. It won't be pretty.

It's very tempting, for sure. Wifey is reluctant to leave the kids and rugrats for an extended period. I told her we have many video options to stay connected, but can't get her to bite just yet. I have also been working on her to get the hell out of NJ and move South. I'm planning a RV trip right now, and planning on sneaking in some house reconnaissance, and told her I'd buy her a house on a lake. Hopefully I can twist her arm a bit more to make that move.

I was living in Freehold during the last melt down. I think they finally got forced to reassess down after a lot of pressure and a few years later. But, they lowered valuations but didn't actually lower the tax bill. They just raised the cost per thousand... crooks... Yep, I would expect them to try every trick in the book to skirt the 2% rule... After all, laws don't matter to the Blue team.

Exactly... but many people still believe a house is an "investment". It's only after you run ALL the numbers will you see that it isn't. A house is shelter. Period. Your housing cost (depending on if you own or rent) should be based on only what you feel your shelter cost is worth.

Did you ever have any concerns that one of these potential buyers might stop back at some other time to try and steal any of your guns, knowing that you had safes and reloading equipment? Or, that they would tell a buddy where to go to steal some guns?

It was him, here's his latest post. I bought three of them for my boys, he does great work!

Baby boomers and the housing market.:

It's a good idea, but unfortunately, a gun safe in the closet or basement is a dead giveaway. This is why I prefer concealment furniture, hidden safes or "non safe" looking type storage. I remember when we were looking to buy and checking out houses. Open the master bedroom closet, and there's a big ole gun safe. I'm sure the guy wasn't storing his suits in it...

I'm sure the tax offices are salivating and looking at a way to jack up taxes and assessments, after a 25% jump in house values.

So, what do you guys think. With the crazy ramp up in prices this year, from low inventory, how soon until we get nailed with higher taxes due to higher values? What about homeowners insurance, I'm sure that will jump due to "replacement value"? It's not only the current buyers getting rammed with higher prices, we'll all see it soon in these other costs. The prices now are nuts. There is a house in my neighborhood that sold for $475K last November. It came back on the market last week at $600K, and was under contract in 3 days. There was nothing significant done to it in those several months. A quick $125K gain in 7 months... Nice... I told wifey, let's sell our house, go travel the US for a year in the RV, then re-buy after it all crashes in a year or so and get a great deal.

Put the cans or boxes in some Home Depot or Lowes moving boxes.... perfect cover!

I don't believe it needs to be locked up, but I would suggest putting it in a different box, so no one can read the labels, and know what it is. It could turn off all those Liberal/Democrat buyers that are considering the house..

Wasn't it mostly the Millennial kids, just following along like sheep with the WallStreetBets crowd, and betting their lunch money on Game Stop?

You need a Dick Tracy decoder watch to translate it:

I hope no one here got burned by Robinhood: ....."Robinhood will pay a record $70 million fine, the largest ever slapped down by the Financial Industry Regulatory Authority (FINRA). The regulator found the popular trading platform misled millions of customers, allowed unqualified accounts to trade options and mishandled a widespread outage in March of 2020. "The fine imposed in this matter, the highest ever levied by FINRA, reflects the scope and seriousness of Robinhood’s violations, including FINRA’s finding that Robinhood communicated false and misleading information to millions of its customers," said Jessica Hopper, executive vice president and head of FINRA’s Department of Enforcement in the disclosure. https://www.foxbusiness.com/markets/robinhood-finra-record-fine-70-million-retail-ipo

He'll always be most famous for, "We know there are known knowns, and we know there are unknown knowns, what we don't know is what unknown knowns we don't know are."