Dear folks who wish you owned your own home

[ArkRescue]

there was a story on WMAL this week, the Obama - you don't have to pay back your school loan ev'a program

- well not really but if you get a fed / community organizer - job, the debt is wiped out after 10 yrs otherwise Private Industry it is 20 yrs

the program Obama said would ONLY cost 2 Billion has tripled to 8 billion and is rising


so you can get 100k or more in student loans, pay on them for 10 yrs and poof gone .. tax payers eat the rest

I elected the longest term for my student loan (BS) which was 25 years. I hear you can't even discharge student loans in a bankruptcy, so I'd be surprised if they would REALLY let someone get away with not paying it off. I'll be paying $300+ a month for another 16 years ........ even with a low interest rate (5% I think) the amount of the repayment doubles the original debt (deferred interest made that worse). Depending on how long I work, I may never make more in income than I actually spent to get the education - something I should have considered before I started school I guess? I somehow thought I'd be making way more than I do - but that's because the computer people at one time were making huge salaries and that didn't last. All I did was add a degree to the work I was already doing in computers. I never received the big salary jump I had been told I'd get once I had my degree. Although, If I find myself in the market to find a new job, the degree will help me for sure.

 

[FollowTheMoney]

Yeah right... YOU OWN NOTHING!!!

Ownership... Ha!

To elaborate a little bit on the evil of (real estate) property tax, consider that "shelter" is a generally recognized necessity of life. What happens when
someone - say a family - is put out of their home because they cannot afford to pay the ever increasing tax on their home (that they
may have inherited for example)? What are they supposed to do then, go live under a bridge somewhere, children and all?

So what we have in the U.S. is an arbitrarily high tax, which has no basis in "ability to pay", levied on a necessity of life, and if you can't
pay it (and where are you supposed to get a job these days?), you and your family are ejected from your shelter, at gunpoint if necessary,
and apparently left to die of exposure to the elements.

That's some kind of real "American" "liberty and freedom" there, isn't it? You and your family are free to be either dead or a slave to government.

When you get a chance look at your deed, it says you are the "Tenant". You own nothing, only control the interest in it! Just as the king
wants it. He grants you the land and house, but you must pay a tribute to him or he kicks you out and puts someone there that can pay.

Isn't this in part why we fought the Revolutionary War? Sure is.

 

[sockgirl77]

Ownership... Ha!

To elaborate a little bit on the evil of (real estate) property tax, consider that "shelter" is a generally recognized necessity of life. What happens when
someone - say a family - is put out of their home because they cannot afford to pay the ever increasing tax on their home (that they
may have inherited for example)? What are they supposed to do then, go live under a bridge somewhere, children and all?

So what we have in the U.S. is an arbitrarily high tax, which has no basis in "ability to pay", levied on a necessity of life, and if you can't
pay it (and where are you supposed to get a job these days?), you and your family are ejected from your shelter, at gunpoint if necessary,
and apparently left to die of exposure to the elements.

That's some kind of real "American" "liberty and freedom" there, isn't it? You and your family are free to be either dead or a slave to government.

When you get a chance look at your deed, it says you are the "Tenant". You own nothing, only control the interest in it! Just as the king
wants it. He grants you the land and house, but you must pay a tribute to him or he kicks you out and puts someone there that can pay.

Isn't this in part why we fought the Revolutionary War? Sure is.

So, people should rent?

You need to get laid.

 

[blazinlow89]

So, people should rent?

You need to get laid.

Yep, because people that rent properties are immune to tax increases, therefore your rent will never go up.

 

[Vince]

Do away with taxes for those that are retired and on Social Security. You've paid all your life, now you should be able to enjoy it and not pay taxes anymore.

 

[ArkRescue]

Do away with taxes for those that are retired and on Social Security. You've paid all your life, now you should be able to enjoy it and not pay taxes anymore.

- saddens me to think of elderly people being evicted from their homes for property taxes - then again many would want their home in Grandma's name to save on property taxes .....

 

[Baja28]

Ownership... Ha!

To elaborate a little bit on the evil of (real estate) property tax, consider that "shelter" is a generally recognized necessity of life. What happens when
someone - say a family - is put out of their home because they cannot afford to pay the ever increasing tax on their home (that they
may have inherited for example)? What are they supposed to do then, go live under a bridge somewhere, children and all?

So what we have in the U.S. is an arbitrarily high tax, which has no basis in "ability to pay", levied on a necessity of life, and if you can't
pay it (and where are you supposed to get a job these days?), you and your family are ejected from your shelter, at gunpoint if necessary,
and apparently left to die of exposure to the elements.

That's some kind of real "American" "liberty and freedom" there, isn't it? You and your family are free to be either dead or a slave to government.

When you get a chance look at your deed, it says you are the "Tenant". You own nothing, only control the interest in it! Just as the king
wants it. He grants you the land and house, but you must pay a tribute to him or he kicks you out and puts someone there that can pay.

Isn't this in part why we fought the Revolutionary War? Sure is.

GMAFB!! Oh how I love these Einsteins who think they are getting ahead by renting.
OK genius, my PT's are $2,800 +- a year. Way too much I agree but where are these folks you refer too who can't afford $233.00/month on a nice house they inherited? I want first hand evidence of someone who was put out b/c they couldn't pay this tax. I'll wait but won't hold my breath.

 

[Baja28]

- saddens me to think of elderly people being evicted from their homes for property taxes - then again many would want their home in Grandma's name to save on property taxes .....

A reverse mortgage would prevent anyone from being evicted.

 

[FollowTheMoney]

So, people should rent?

You need to get laid.

You miss the point. It's about your shelter, your home. Regardless if you can afford it now. No one knows what comes tomorrow.
Your house is taxed regardless of your, or anyone's, ability to pay. Do not forget, in some states peoples homes are taxed at
over $10000.00 a year for an average, modest house, about 1900-2100sqft.
But hey, you want to continue your enslavement to the government and grovel for relief and continue to defend... fine.
Be a boot licker and continue to carry the chains that bound you. You think it's normal for a government to fiscally rape
you at every turn, and when you can't pay, carry your own weight... see ya, off the plantation you go.
But my message is sound and factual.
This is not the America that survived the revolutionary war. There were no property taxes after. All lands reverted back to
those who held deed to their land. Property taxation (on your home) is relatively new.

 

[LibertyBeacon]

You miss the point. It's about your shelter, your home. Regardless if you can afford it now. No one knows what comes tomorrow.
Your house is taxed regardless of your, or anyone's, ability to pay. Do not forget, in some states peoples homes are taxed at
over $10000.00 a year for an average, modest house, about 1900-2100sqft.
But hey, you want to continue your enslavement to the government and grovel for relief and continue to defend... fine.
Be a boot licker and continue to carry the chains that bound you. You think it's normal for a government to fiscally rape
you at every turn, and when you can't pay, carry your own weight... see ya, off the plantation you go.
But my message is sound and factual.
This is not the America that survived the revolutionary war. There were no property taxes after. All lands reverted back to
those who held deed to their land. Property taxation (on your home) is relatively new.

Amen.

 

[LibertyBeacon]

GMAFB!! Oh how I love these Einsteins who think they are getting ahead by renting.
OK genius, my PT's are $2,800 +- a year. Way too much I agree but where are these folks you refer too who can't afford $233.00/month on a nice house they inherited? I want first hand evidence of someone who was put out b/c they couldn't pay this tax. I'll wait but won't hold my breath.

There's a reason you're still so far left on the bell curve. You don't know chit about money either.

 

[BOP]

- saddens me to think of elderly people being evicted from their homes for property taxes - then again many would want their home in Grandma's name to save on property taxes .....

they did that in California back in the '70s with Prop 13. That didn't work out as planned.

 

[sockgirl77]

You miss the point. It's about your shelter, your home. Regardless if you can afford it now. No one knows what comes tomorrow.
Your house is taxed regardless of your, or anyone's, ability to pay. Do not forget, in some states peoples homes are taxed at
over $10000.00 a year for an average, modest house, about 1900-2100sqft.
But hey, you want to continue your enslavement to the government and grovel for relief and continue to defend... fine.
Be a boot licker and continue to carry the chains that bound you. You think it's normal for a government to fiscally rape
you at every turn, and when you can't pay, carry your own weight... see ya, off the plantation you go.
But my message is sound and factual.
This is not the America that survived the revolutionary war. There were no property taxes after. All lands reverted back to
those who held deed to their land. Property taxation (on your home) is relatively new.

I look at it this way. My mortgage is HALF of what I was paying in rent. Even with taxes, I am still paying less. Keep in mind that by paying rent you are paying someone else's taxes. So, in a sense, you are paying taxes just as you would if you owned the home. If I were to lose my job today, I'd still have to provide shelter for my family. So that is really a moot point.

 

[Vince]

- saddens me to think of elderly people being evicted from their homes for property taxes - then again many would want their home in Grandma's name to save on property taxes .....

Not elderly....yet, but I take my Property Tax bill and go to the Court House every year, pay it in person and get a receipt. It gets filed with all the others. Someone says I didn't pay, "I think you made a mistake" here's my receipt.

 

[PrchJrkr]

There's a reason you're still so far left on the bell curve. You don't know chit about money either.

OMG, OMG, OMG!!!

Baja, please address this asswipe. I just want a front row seat. Please?

 

[GWguy]

OMG, OMG, OMG!!!

Baja, please address this asswipe. I just want a front row seat. Please?

I paid off my mortgage years ago, so all I pay is about $3200 in taxes. Everything else I WOULD have been paying in mortgage or STILL WOULD BE PAYING IF RENTING is now going directly into my bank account. Just bought a nice new truck, taking a long vacation, making upgrades to the house to increase it's SALE VALUE and barely scratched what I put away from NOT PAYING INTO RENTING.

That saved money is MINE. Haven't had to even consider touching my 401k, and may postpone applying for social security for years yet.

 

[Baja28]

There's a reason you're still so far left on the bell curve. You don't know chit about money either.

Speaking of clueless, LB

Please oh wise one (sorry, I couldn't type that with a straight face) , impart your great wisdom upon us. Or do you have a cop to harass screaming like a baby about all the violations of your 4A rights.

if it weren't for know it all's like you & FTM, us slum lords wouldn't have morons paying off our rental properties. In fact, I may buy another. Thank you!

Now bend over and send me that rent check!

 

[LibertyBeacon]

Speaking of clueless, LB

Please oh wise one (sorry, I couldn't type that with a straight face) , impart your great wisdom upon us. Or do you have a cop to harass screaming like a baby about all the violations of your 4A rights.

if it weren't for know it all's like you & FTM, us slum lords wouldn't have morons paying off our rental properties. In fact, I may buy another. Thank you!

Now bend over and send me that rent check!

Oh, rental properties!

BACK UP THE BRINKS TRUCK!

You are doing it wrong if you have to pay off anything. On the right side of the bell curve, we pay cash for houses. Starting to figure it out, Suze Orman?

 

[MarieB]

I paid off my mortgage years ago, so all I pay is about $3200 in taxes. Everything else I WOULD have been paying in mortgage or STILL WOULD BE PAYING IF RENTING is now going directly into my bank account. Just bought a nice new truck, taking a long vacation, making upgrades to the house to increase it's SALE VALUE and barely scratched what I put away from NOT PAYING INTO RENTING.

That saved money is MINE. Haven't had to even consider touching my 401k, and may postpone applying for social security for years yet.

That's awesome

But people are moving more now for work. I was reading and article not long ago about how renting is becoming more popular now, as it gives people more flexibility.

I don't think it's a one size fits all argument. People have different lifestyles and situations.

On a side note, I would run those figures for SS before making a decision

 

[LibertyBeacon]

I was read and article not long ago about how renting is becoming more popular now, as it gives people more flexibility.

Well, that's one way to spin it.

Yet another way would to be recognize that real unemployment is around 25%, probably on the way to 30% before the bottom falls out of this thing. No one can afford to buy a house because no one is working. Combine that with the giving away of mortgages to anyone with a pulse, and having to ratchet back on that banking (and the entire cottage industry to include land developers and construction firms) windfall.

My objection is not to homeownership in and of itself. Rather on the contrary. My objection is to using leverage and paying a vig for money that does nothing but provide a roof over my head. My house is not an investment; it serves a utilitarian purpose: to give me a place to live.

Delay gratification. Rent young and save, save, save aggressively. Then pay cash for the house of your choice, house of your dreams in fact.