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Prohibit players from flipping brand new properties after two weeks


Powley

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I hate the term "market price" and wish there was a way to remove this from the knowledge of others. It is a very misleading number when it comes to property. That hard coated number is way out of date, and unchangeable by reasons of demand, location and customization of the house. A real-life real-estate market is far from static.. Just a side-note from the current topic. 

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Buying a property and doing nothing to it, then selling it two weeks later for a profit is just plain abusing the system and should be a RP quality issue. At that point you’re just farming script dollars, not in it for the RP. No other way to slice it. 
 

Realistically, you’re not going to recoup your purchase price + closing costs by  letting the house sit for two weeks with no renovations. It just won’t happen. It’s abuse of a game mechanic system that creates unnecessary inflation by people who’s only goal is script money, not RP.

 

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1.1 House Flipping -

House flipping is strictly forbidden. House flipping is defined as purchasing a home to immediately sell it to another player at a much higher price in order to gain quick profit. Selling and buying homes realistically would not take merely days to achieve. A player should wait at least 14 days before selling their property to another player, to ensure they’re ready. There are proper procedures as well that surround selling a home, such as contracts and forms. These should be considered when roleplaying a house sale, rather than just using the command to sell the house.

I believe this should fall under breaking the house flipping rule. People are just waiting out the 14 day period, but that doesn't change what they are doing. They bought the house to resell it at a higher price for quick profit. It is also mentioned that people should take into account properly selling a home using contracts and forms, instead of just using the command. I'm sure no one actually role plays around that. It's just a quick money grab and I feel it shouldn't be allowed at all.

Edited by Chief
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I kind of feel like all that's going to happen is people adding the absolute bare minimums to stock interiors just to validate work being carried out in the property prior to a sale after the 14 day grace period has expired, then selling a 75k property for 100+ and calling it a day. New players won't know the difference and many won't question it, and for that reason I do see this as taking advantage to make a quick buck. Where's the RP in that?

 

The problem I see with the market right now is that prices are just crazy. You can argue on one hand that anyone can ask for whatever price they feel something is worth, and that's valid, to a point. On the other hand, it drives the market up, preventing players from ever realistically purchasing properties because they just can't afford 800k-1 million plus for properties in Mirror Park or elsewhere as a prime example. This, in my opinion, leads to players script farming just to gather the cash they need to buy properties, or only a select few ever get the opportunity to change zipcodes. It leads to extremely limited character progression because, well.. you just can't afford the ridiculous house prices being asked. That takes Roleplay out of the frame, and that's not what I think this server is ultimately about, or what it's advertising.

 

House prices need to be adjusted, and I'm kinda leaning towards the idea of limiting the number of properties a character may own, unless there's a valid IC reason for it, for example being a realtor.. and even then, I'd like to see insurance and title companies coming up that have the front-end 'Website' forum pages for those and a place of business in-world to ICly negotiate the sale of properties, carry out viewings and have all the legal paperwork required to do business. Just saying you're a realtor and doing all of your work out of FaceBroswer as an example just doesn't cut it in my book, and isn't realistic in the slightest either.

Edited by Switch
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A blanket rule won't really do much and neither would price controls. What would be handy is to disincentive this behavior from taking place, like adding sales and buying taxes on properties and taxing people on their properties and taxing them even more on multiple properties owned.

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So my friend powley I kinda disagree because if these people can resell the property at higher price then that means people are willing to pay that price. If we restrict that we are destroying the concept of a truly free market and I think thats a disingenuous thing to do considering we are in America land of the free and capitalism

 

If I want to sit my ass on essentially a council house that I bought for a dirt cheap price and then resell it for more money because people want to RP there, then that should be my god-given right as a citizen of the United States of America.

Edited by Kade
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First, the United States isn't a truly free market economy, its a mixed economy. What we have here in GTAW is a mixed economy. Anyone suggesting otherwise, go do some research please.

 

A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to intervene in economic activities in order to achieve social aims and for the public good.  - Investopedia

 

A "true" or "absolute" free market economy requires that all property be owned by private individuals and all goods and services be privately provided. Prices are allowed to fluctuate based on supply and demand, and all transactions are voluntary, not compelled or restricted by the government. - Investopedia

 

We don't have a true, free market economy in GTAW, so to argue that we are destroying the concept is moot because it doesn't exist here. You wouldn't be able to resell a house for profit in 2 weeks. Between realtor fees and closing costs, you'd end up paying the market price plus those costs. That doesn't happen here. I also bet that no one RP's selling a property correctly, they just spam that /sell function and business is finished. Unless considerable renovation is done, there's no feasible reason for the property to increase in value that quickly. The issue lies in the fact that the system doesn't provide a realistic housing market and leaves methods of abuse, which have gone unchecked. Those who suggest this is how it's supposed to be, don't really know what they are talking about. Sorry to burst anyone's bubble.

Edited by Chief
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One thing I dont understand is what is stopping people from buying from the server directly ? are they somehow forced to buy it at 100k other than looking for another property to buy directly from the server for 75k or whatever ?

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Just now, doo2doo2 said:

One thing I dont understand is what is stopping people from buying from the server directly ? are they somehow forced to buy it at 100k other than looking for another property to buy directly from the server for 75k or whatever ?

The properties they are talking about are not owned by the server, but other players. It's a player-to-player sale, not a server-to-player sale. Not all properties are available from the server, so the only choice is to buy from other players if they want a particular house in a specific area.

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Just now, Chief said:

The properties they are talking about are not owned by the server, but other players. It's a player-to-player sale, not a server-to-player sale. Not all properties are available from the server, so the only choice is to buy from other players if they want a particular house in a specific area.


So you basically want to artificially restrict the prices of houses in high demand areas although people have alternatives to buy in other locations just as the market normally work ? I dont see the problem here .... this is how capitalism works.

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9 minutes ago, doo2doo2 said:


So you basically want to artificially restrict the prices of houses in high demand areas although people have alternatives to buy in other locations just as the market normally work ? I dont see the problem here .... this is how capitalism works.

Never said anything of the sort. I said that what people are doing by buying properties up just to wait out the 14 day selling period and resell it for a profit without any RP whatsoever is wrong. It's not realistic for a house to gain that much value in 2 weeks without any renovation or huge surge in land value, which I don't see happening here. Let alone the fact that properties being bought on this server don't reflect any sort of realism (closing costs, realtors, property companies, paperwork, contracts, etc.) and people just /sellproperty and call it a day. This is a problem.

Edited by Chief
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