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  #21  
Old 10.09.2021, 01:30
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Re: housing bubble??

In the remote case it gets approved, a consultant can find alternative solutions.

There's a never ending fight between the people that have more and the ones that have less. On one hand, it never stops. On the other hand, it's the best kind of problems one can have.
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  #22  
Old 10.09.2021, 08:24
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Re: housing bubble??

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Therefore, we will vote "yes"!

And where will they move, India? Seems they've already tried that.

Anyway, very few people can work from home in efficient manner except in a few industries.

Tom
I guess you have the same opinion on inherited wealth then?
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  #23  
Old 10.09.2021, 08:37
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Re: housing bubble??

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In my case the work from home thing has made me realize I don’t even need to work from Switzerland so I’m in a country where I can go to any restaurant I want .

I think that within Switzerland people will move to cheaper areas because being close to the office no longer matters as much and this will slow down the price escalation in expensive areas .
but then this would imply a push of higher prices to outer areas.
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  #24  
Old 10.09.2021, 08:38
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Re: housing bubble??

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On the contrary . The initiative stands little chance of passing .

But it is important to have these debates nevertheless as that is how a healthy democracy works
why do you think it has little chance of passing? it seems like quite a populist measure.
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  #25  
Old 10.09.2021, 08:42
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Re: housing bubble??

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why do you think it has little chance of passing? it seems like quite a populist measure.
Nobody wants more taxes that result in nothing changing. If everybody votes yes will the real estate bubble pop? Dream on.
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  #26  
Old 10.09.2021, 08:43
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Re: housing bubble??

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why do you think it has little chance of passing? it seems like quite a populist measure.
The 2 weeks extra holidays referendum was exactly that and it didn't pass.
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  #27  
Old 10.09.2021, 08:45
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Re: housing bubble??

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In the remote case 99% gets approved, a consultant can find alternative solutions.

.
A friend was saying this too.

It is never the rich that pay taxes. They find someone to help them write (those with political influence), or work around loop holes. Tax accountants etc


Re: housing bubble? Yes, i have also noticed property prices increasing. This is even happening further south than Sydney

With a fluctuating share market, and ever developing international tax laws, Switzerland even with negative interest rates, where should the poor sods with too much cash put their money
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  #28  
Old 10.09.2021, 08:45
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Re: housing bubble??

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Nobody wants more taxes that result in nothing changing. If everybody votes yes will the real estate bubble pop? Dream on.
yes, but the 99% are supposed to not have higher taxes, only the 1%
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  #29  
Old 10.09.2021, 08:54
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Re: housing bubble??

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yes, but the 99% are supposed to not have higher taxes, only the 1%
And fear that the 1% will leave and put their funding someplace is enough.
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  #30  
Old 10.09.2021, 09:02
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Re: housing bubble??

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In my case the work from home thing has made me realize I don’t even need to work from Switzerland so I’m in a country where I can go to any restaurant I want .
Companies have also realised it and are looking to change contracts accordingly, for ex if a resource is working from UK then change contract from CH to UK one.

And some other companies have clearly stated that WFH can only be from CH , unless one was crossborder commuter even before pandemic began.

I think its only fair, if a person gets higher CH salary, they are expected to spend in CH.
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  #31  
Old 10.09.2021, 09:03
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Re: housing bubble??

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A friend was saying this too.

It is never the rich that pay taxes. They find someone to help them write (those with political influence), or work around loop holes. Tax accountants etc


Re: housing bubble? Yes, i have also noticed property prices increasing. This is even happening further south than Sydney

With a fluctuating share market, and ever developing international tax laws, Switzerland even with negative interest rates, where should the poor sods with too much cash put their money
maybe it's time for you to spend it
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  #32  
Old 10.09.2021, 09:04
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Re: housing bubble??

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yes, but the 99% are supposed to not have higher taxes, only the 1%
better the 1% pay some tax here than relocate elsewhere and pay zero tax here.

when the 1 percent leave the tax revenue shortfall will have to be picked up by the 99 percent.

i think you will find that despite all the loopholes, the 1 percent still pay a lot of tax in total.
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  #33  
Old 10.09.2021, 09:12
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Re: housing bubble??

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Did anyone notice that the housing bubble seems to be getting bigger and bigger? I visited a house costed 650,000 CHF 3 years ago, and last week I found its price was 1,250,000, almost double!! The average price was between 5000-7000 per m2 when I tried to buy a house 3 years ago, but now the price is about 8000-10000 per m2....I am living around Aarau. Crazy market!
Were there any renovations? if its 100% increase then there must have been some changes to property . Prices have generally gone up 15-25% since pre-covid times some reasons below
  • Move from apartment living to more open space with a garden / view etc
  • Initial capital has increased which would have otherwise spent on eating out and travelling
  • Interest rates continue to go down, you would pay same interest on 800k now vs 600k earlier
  • Need extra room for home office etc
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  #34  
Old 10.09.2021, 09:18
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Re: housing bubble??

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Where should the poor sods with too much cash put their money

They can always put it in my bank account, it needs feeding. Offer is open to all on EF too.
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  #35  
Old 10.09.2021, 09:18
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Re: housing bubble??

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The 2 weeks extra holidays referendum was exactly that and it didn't pass.
and the 1:12 initiative
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  #36  
Old 10.09.2021, 09:25
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Re: housing bubble??

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They can always put it in my bank account, it needs feeding. Offer is open to all on EF too.
i thought you were feeding 1000 chf notes to the goats :❩
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  #37  
Old 10.09.2021, 09:29
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Re: housing bubble??

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Were there any renovations? if its 100% increase then there must have been some changes to property . Prices have generally gone up 15-25% since pre-covid times some reasons below
  • Move from apartment living to more open space with a garden / view etc
  • Initial capital has increased which would have otherwise spent on eating out and travelling
  • Interest rates continue to go down, you would pay same interest on 800k now vs 600k earlier
  • Need extra room for home office etc
if the same property has been on the market for all this time and the price has even gone up, maybe the seller is not really interested in selling but just asking fantasy prices on the off chance that a big enough fool will bite.
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  #38  
Old 10.09.2021, 09:30
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Re: housing bubble??

Either I don't understand the proposal (possible) or they don't understand how the Swiss taxation system works and how easy this is to work around.


From https://99prozent.ch/argumente/wer-ist-betroffen/
A person who has invested 170 million francs at the moment receives around 5.1 million in taxable capital income at a return of 3%[1]. With an allowance of 100,000 francs, 5 million is counted 1.5 times, which results in 7.5 million. The 100,000 francs that are not affected would then be added back to this. The person in question would therefore have 7.6 million instead of 5.1 million in taxable income, which would result in a higher tax amount. The taxable income is then multiplied by the respective tax rate to determine the taxes owed.[2]

Translated with www.DeepL.com/Translator (free version)

It assumes that the "taxable capital income" (I'm not convinced this is actually a legal term in Switzerland) comes in the form of dividends. Capital gains are not generally taxed in Switzerland, so you would just make sure that you are invested in non-dividend paying stocks. Furthermore, the CHF 170m is already subject to wealth tax.

There's no way that this would raise an extra CHF 10bn (CHF 125,000 per each of the 80,000 allegedly in scope).
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  #39  
Old 10.09.2021, 09:31
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Re: housing bubble??

Thanks for clueing me in.

I agree that passing this would be catastrophic for Switzerland as one of the main reasons it attracts so many immigrants is low tax burden. If this is eliminated, many won't see any advantage in staying.
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  #40  
Old 10.09.2021, 09:59
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Re: housing bubble??

More tax huh ? Because government does such a good job of spending your resources today ?



How about more freedom - those who want to be taxed more and believe in the system simply donate their income ?



Of course they won't - because they know no one can spend resources more effectively than the person who generated those resources.
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