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F1 News & Discussions => F1 Drivers => Topic started by: cosworth151 on July 20, 2018, 08:51:28 PM

Title: Hamilton signs for Two More at Merc
Post by: cosworth151 on July 20, 2018, 08:51:28 PM
Lewis Hamilton has signed up for two more years at Mercedes. That will keep him there until the end of the 2020 season.

ďThis contract extension has basically been a formality since Toto and I sat down during the winter, so itís good to put pen to paper, announce it and then get on with business as usual,Ē Hamilton said. ďI have been part of the Mercedes racing family for 20 years and I have never been happier inside a team than I am right now.

https://racer.com/2018/07/19/hamilton-extends-mercedes-deal/
Title: Re: Hamilton signs for Two More at Merc
Post by: Calman on January 10, 2019, 04:06:48 AM
Thought I'd hook onto this topic, rather than start a new one.

So, will Hammy be penniless by the time he reaches 60y/o?

https://www.wsj.com/articles/f1-racing-champ-lewis-hamilton-buys-manhattan-penthouse-for-40-7-million-11547067872

I know he must have acquired a million, billion, trillion pennies, but surely if he keeps this up, he won't be able to afford a Campervan in 25 years time!!

Best Regards,
Cal :)
Title: Re: Hamilton signs for Two More at Merc
Post by: John S on January 10, 2019, 01:59:58 PM
Calman if you have that sort of income your hardly going to just leave it in the Bank now are you.  ::)



Title: Re: Hamilton signs for Two More at Merc
Post by: lkjohnson1950 on January 10, 2019, 06:13:44 PM
Unless climate change puts Manhattan under water, the value of a penthouse will only go up. A fairly good investment.
Title: Re: Hamilton signs for Two More at Merc
Post by: Calman on January 10, 2019, 06:41:41 PM
I guess you are right guys!!

I'm probably a shade green that he has $4.95 more than me!!  (after his second Manhattan purchase of course) :DD :DD :DD

Best Regards,
Cal :)
Title: Re: Hamilton signs for Two More at Merc
Post by: Scott on January 10, 2019, 06:48:15 PM
Unless climate change puts Manhattan under water, the value of a penthouse will only go up. A fairly good investment.
Completely agree.  Canít lose on that.
Title: Re: Hamilton signs for Two More at Merc
Post by: Jericoke on January 10, 2019, 08:45:37 PM
Unless climate change puts Manhattan under water, the value of a penthouse will only go up. A fairly good investment.
Completely agree.  Canít lose on that.

New York has a loophole that you pay tax based on the footprint of your property, and nothing else.  Thus, a single family home built on the same property as a 500 unit condo has the same tax burden... that is to say the penthouse owner pays 500% less tax than if he had the same sized house.

It took a long time for developers to discover this loophole, but now that they have the number of 'expensive' apartments in New York is going to triple year over year.

If this loophole is closed (and why wouldn't it?  it's an easy tax grab), there will be a very large number of apartments that are 500X more expensive to own, yet will have no more equity.

Not saying that Hamilton is going to lose his shirt in the Manhattan condo bubble, but just that I hope he's moving there to enjoy the city, not build a nest egg.
Title: Re: Hamilton signs for Two More at Merc
Post by: Scott on January 11, 2019, 03:41:24 AM
The Manhattan real estate bubble dates back to the depression.  Jiggering property tax wonít make anyone blink.
Title: Re: Hamilton signs for Two More at Merc
Post by: cosworth151 on January 11, 2019, 07:51:23 PM
Quote
If this loophole is closed (and why wouldn't it?  it's an easy tax grab), there will be a very large number of apartments that are 500X more expensive to own, yet will have no more equity.

The tax money goes to the government. The grease money from the big developers (like Fearless Leader Donnie) goes to the politicians. In other words, ain't gonna happen.
Title: Re: Hamilton signs for Two More at Merc
Post by: Calman on January 14, 2019, 09:34:11 PM
So, the latest story on Hammy (but more entertaining is his Playboy to Pensioner photo comparisons).  I think he will age well! ... a few quid in the bank always helps!!  :D

https://metro.co.uk/2019/01/14/lewis-hamilton-far-slumming-leaves-fancy-restaurant-bunch-models-8342570/

Best Regards,
Cal :)