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What is the deal with property trading?


Slamdance

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Hello GTAW. Excuse my ignorance but what is up with houses (standalone properties not apartments) being traded rather than sold on the open market. Apartments are easy enough to get ahold of through a cash purchase but you only seem to be able to get a house if you already have one.

 

When did this become the norm? Why is it the case? Do you have any advice to a relatively new player for getting on the housing ladder with only an apartment? Who is to blame for this insanity?

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Welcome to Economics 101. When you give everyone and their mother 200k for afking, don't expect properties to sell for 250k.

The economy as it is is inflated as all hell and its simply not worth it to even sell a property at 3x the market value.

 

Remove the market value limit, let players determine the price for properties, and you'll actually see them get listed more often.

Create property taxes that owners must pay regardless of in-game time, simply to make owning a property a constant investment and not feasibly worth owning if you're not actively using it for something.

 

As it sits, I can buy a house, then login once or twice per month just to prevent it from automatically getting removed, and unless someone reports it, it goes unseen. Fix that by adding fees behind owning a property or another method of making it require a constant investment. Maintenance fee's, property taxes, etc... All can be implemented and managed through the UCP or property menu.

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Right now, the situation seems to be about the fact that those with house properties are unhappy with the current house prices, feeling that they'd lose out by selling the property, and so they turn to trading it for another house, knowing that they'll have something worth trading with later, while still getting rid of their old apartment. Now, sometimes this circle is broken when someone wants to leave the server, and knows that they wont be around to keep the house, so they sell it on the market for some quick cash (Very quick indeed, as most houses go BO thirty minutes after they're placed for sale). You might also find someone who truly don't care about their special property, but who has enough sense that the can see it's valuable, and thus want it in the hands of someone they trust to use it well. This friend trading is probably not as widespread, but I've heard about it happening.

 

I won't even speculate on the claim that being buddy-buddy with PM would land you a house, because I have no proof they do and thinking they do without any proof just seems insane to me.

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Just now, Smilesville said:

Welcome to why regulatory price control doesn't work.

 

The whole server could actually be an elaborate project for a college economics class.

 

We would never know.

The alternative was seen on LSRP, where unregulated house prices led to each house being a few million worth, and only a tiny handful of people able to ever afford living accommodations any nicer than the most run-down apartment.

 

We have a problem, but getting rid of price control wouldn't fix it, it would just open for the rich to own all the best places, and the rest having to fight for the scraps. 

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1 minute ago, Protheus said:

We have a problem, but getting rid of price control wouldn't fix it, it would just open for the rich to own all the best places, and the rest having to fight for the scraps.

But everyone is rich. Surely that solves the problem.

 

Or maybe the problem is that an RPG with limited assets will always produce unrealistic results.

 

But you can't honestly look at the estate trading and tell me price controls are a good idea.

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Just now, Smilesville said:

But everyone is rich. Surely that solves the problem.

 

Or maybe the problem is that an RPG with limited assets will always produce unrealistic results.

 

But you can't honestly look at the estate trading and tell me price controls are a good idea.

It's better than the alternative when what you're saying about being rich is simply not true. Sure, anyone can become rich by doing the right script jobs or roleplaying the right places, but that still leaves the rest with bread crumbs in comparison just for not roleplaying the "right" things.

 

Sure, price control has led to some of the market mostly being off-limits to the server, but seeing price tags of a few millions for some tiny houses somewhere that's supposedly a dump would still lead to that market being closed off, simply by other parameters, while also becoming incredibly unrealistic in terms of the already unrealistic idea we have about money.

 

I do not know the answer, or I would be in Suggestions and shout my idea from the rooftops, but simply opening the market to the richest bidder wouldn't really improve much.

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There's a hard cap on the price you can sell a property for and this doesn't match the value the server population ascribes to certain properties that are in low supply and high demand, so it's the way they're trying to "sell" the property for what they think it's worth. It's essentially a way to avoid the 3xMP limitation by saying you never sold it, but traded it for a different asset.

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