OK, I have given you a nice upvote because you have kept it civil and I certainly appreciate that.
Just to reiterate my point: I think people should be aware that appraisers can give radically incorrect appraisals of property values, and I think it was very much a victimless crime for banks to agree to give Trump loans for the amounts and rates that they did, which all went off without incident and any real lying. This is all just an attempt to destroy the former President’s chances at becoming President again, IMO.
I also think many on the left aren’t sincerely worried about “muh bankers and their loaaanns! Oh no! Fraaauuudd!” - the usual position (and the correct position) is that they are already engaged in usury and cronyism. How do you defraud that?
Also I am not “far right” - I am post-right. By taht I mean that, yes, sure, I am generally right wing, but I do not believe in the current left/right dichotomy and don’t want to indulge it too much.
ampedwolfman@lemmy.world 5 months ago
Out of curiosity, and I don’t mean this pointedly. Have you ever purchased property? The assessment of appraisal doesn’t matter one way or another. You could easily be above or below it. It’s a fair market value, much like the Kelly bluebook for cars if you’re in the states (I’m uncertain if that’s a U.S. only assessor or not.) it’s a fair value of what the asset should be not the end all be all. Of course it’s the basis for taxes which is super relevant to your argument, I understand and appreciate that, but for much else it doesn’t matter.
Now let me start by stating, I think I understand where your points are. Please allow me to express the issues that I have with them and why these situations are different.
So, Jon Stewart sold his building for an obscene amount over the appraised value. There is a discrepancy among the assessed value, I see that as well. Most appraisal districts go off of a value for proposed areas plus other things like additional structures, refining of current structures (new roof, new windows, paved driveway, etc.) most offices ronco the absolute hell out of these appraisals for years. More often than not within city limits to do any of these things you have to pull permits. Pull enough of them and your house gets reappraised. This is important because the housing market will vary wildly. And yes, I’m aware that they will adjust property values yearly but they only fluctuate based on the current housing market. My guess would be (outside of money laundering that I stated earlier. I never argued the fact that it wasnt ridiculous, just that they aren’t the same.) that there has been several renovations done or a gentrification (or planned) of the neighborhood. We could speculate why it would be so high over the appraised value and I’m uncertain why there would be all the hullabaloo with reporting on it without any investigation. But I digress, selling something to someone who would have a chance to inspect the property, walk it themselves even, so they know what they are purchasing is far and away different from lying about asset values and even lying about the assets themselves to obtain better loans is fraud. On top of this there is so much about it being a victimless crime, money isn’t infinite, not without hyper inflation. Banks can’t just give endless loans. If this is a widespread practice, it takes away from the working class that try to secure loans for literally anything.
But again, the buyer who way overpaid got to go through the ringer when buying the property. The bank could have been up a creek if he didn’t pay. What happens when banks go up a creek? They get government bail outs that we have to pay for.
Lovstuhagen@hilariouschaos.com 5 months ago
Yes, I own my house, but I have never bought property in the US and here the regulations surrounding it are quite different (at least I imagine) as loans and even things like the number of domiciles you can own in specific areas are highly regulated, and property value seems to be very public here and I’ve never seen wild discrepancies like with the Stewart property…
So, in a sense, it is baffling that something could ever be appraised with such a wide discrepancy - it seems like a very real kind of fraud is happening throughout the US that allows very wealthy people (Stewart, Trump, everybody with money in NYC!) to avoid taxes.
I definitely agree that is an issue - there are actually a lot of crazy issues involving the subsidizing of home loans and other types of loans, and these burdens tend to fall on the middle class… And no, I am not being some capitalist middle class guy with zero class consciousness right now pretending I am a wealthy person who is in the same shoes as Bill Gates because I don’t get housing benefits and own a house…
I am saying:
It’s absolutely a real problem and, fortunately, our last President did make real strides in breaking up real estate speculation and the landlord class but you know how it is… you halfway solve one problem and two more pop up.