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  • Aug 25th, 2010 @ 1:23pm

    Transfer fees - treating houses like copyrights

    Before making a judgement about transfer fees consider this:
    The economy is almost as bad as that of the Great Depression.
    Double digit unemployment is everywhere.
    New home sales are the lowest since 1963 - 47 years.
    Most builders/developers are out of business.
    Most homes are worth half of what they were valued at three years ago.

    Transfer fees make it possible for an investor - like a bank, Wall Street or the U.S. government to invest in building programs and get repaid their loans over the course of 99 years.
    Is it worth paying 1%, five or ten years from now, when you sell your home? Paying the investor 1%, to get us out of the mess we are in now? If 1% is a critical number, why not pay your real estate agent 5% instead of 6%. The agent is not saving the economy, but these investors could.