2024 ELECTION THREAD
The next presidential race will be here soon! Please see current Bovada odds. Thoughts?
so in america we have 30 yr mortgages and after the 30yrs you own the house
where as if you rent then you have nothing after the 30 years
so in american economic cycles usually our housing prices recover after 10 years. like every 10 years they go down and then they recover to their previous price highs.
What I was saying is that you pay down 10 years out of 30 years, usually you have paid down a bit of your balance and you've built equity in the home.
Home owners in the US are screwing over renters to artificially inflate their home values. They oppose all new developments of apartments, businesses, form tyrannical associations to make sure everyone falls in line (usually written into the title), attack public transportation and walkable cities because they want to maintain their car-brained lifestyle…
Even with all that BS that home owners pull on renters, renting still makes more sense for a lot of people. You don’t have to have an initial investment worth 10-20% of the value of the house, you can move cities/towns more easily, you oftentimes have the benefit of having maintenance, utilities, etc paid for, you get hired security provided for by the company, there might be other perks like gym, pool, free dishwasher, fridge, washer dryer, etc.
And look, people default on their mortgage or have to sell their house because they can no longer afford it all the time, so it’s not like you can guarantee to have an asset after 30 years. It’s also not a liquid asset, but it can be used as collateral for a LOC. Also if you have an HOA, you are basically a rentoid anyway, and those fees can be raised as well.
What I will say about owning a home, if it doesn’t have an HOA, is that you have much more freedom to customize and make it the dream place. All that might be hugely expensive though so be prepared for that.
As long as I keep making my mortgage payments the market value of my house has no affect on me unless I want to sell or take out a loan on the equity.
Theoretically you are better off with it going down a lot (if that means lower property taxes) until the day before you want to sell it, then you want it to go as high as possible obviously.
Home owners in the US are screwing over renters to artificially inflate their home values. They oppose all new developments of apartments, businesses, form tyrannical associations to make sure everyone falls in line (usually written into the title), attack public transportation and walkable cities because they want to maintain their car-brained lifestyle…
Even with all that BS that home owners pull on renters, renting still makes more sense for a lot of people. You don’t have to have
3.5% down with first time home owner loan
After a few years of home ownership you can rent out to tenants and move around as you please. And you’ll have more money to do so as well
3.5% down with first time home owner loan
After a few years of home ownership you can rent out to tenants and move around as you please. And you’ll have more money to do so as well
This is not really practical or worth it for most people. You have taxes, maintenance and the risk a tenet stops paying. Plus you need to live somewhere anyway. If you had a rich uncle who let you live in a house you liked for free in perpetuity, it would make very little sense to ever buy a house. By far the number one benefit to owning a home is that you can live there.
yeah this will largely be a nothingburger, but it just seems even more insane than normal..
doesn't like everyone in the military regardless of rank have to salute a living medal of honor recipient?
In the Army at least it's not formally required by reg but it may as well be. Literally everyone above you in the chain of command is sure as **** going to salute.
It almost never happens though as there are so few of them living and even fewer than when I was in, apparently 60 now. I nearly did while on funeral detail, we were burying a guy from his WW2 unit who himself had the Distinguished Service Cross which already made it an extra big deal. MOH guy didn't end up attending but leading up to it we were provided photos of the guy and everything, instructions were to salute whether he was wearing it or not, in uniform or not, whatever.
Best part was meeting the deceased's war buddy, who lived next door to him 50 years. Was obviously heartbroken but still one of the funniest, chillest old guys I've ever met, kind of a Norm MacDonald type of humor.
Theoretically you are better off with it going down a lot (if that means lower property taxes) until the day before you want to sell it, then you want it to go as high as possible obviously.
Why would I spend thousands $ on maintenance on something that keep losing value ?
How is having a depreciating net worth be better ?
I rather spend couple thousand in tax with a 2-5% increase yearly if my net worth going 10%+ every year …
Ps: how is having a deflationary spiral be great for the economy ?
“They turned him down because he’s Jewish. That’s why they turned him down. Now, we can be politically correct and not say that. I could say, well, they turned him down for various reasons. No, no, they turned him down because he’s Jewish,” said Trump.
“And I’ll tell you this, any Jewish person that votes for her or a Democrat has to go out and have their head examined.”
Imagine stanning a race baiting carnival barker of zero intelligence and diminishing mental capacity
trying to win a national election over here...
- if you're against the genocide, you're a braindead "bad jew"
- "black jobs", kamabla isn't black, etc
- latin americans are all rapist criminals, plan to deport 20-25m of them
- don't even get him started on arabs/muslims
- africa is a "shithole" continent
- haven't heard anything about asians yet, but i'm guessing he's said some wild **** about china
- women don't deserve autonomy of any kind
- gays are gross, probably plan to kill trans ppl (haven't read project 2025 yet)
- war on communists, socialists, progressives, unions, workers, teachers, academics, etc
honey, where's my base?
think he's only declaring a war on gypsys short of being full hitler at this point...
To be fair I’ve seen enough Peaky blinders to be skeptical or the gypsies
It does kind of, property tax assessment is definitely a weird little conversation all by itself. My main residence (in DE) has a property tax assessment of about 1/6th of what I purchased it for a couple years ago. In NJ we'd be paying 5x as much for this place and even those assessments are way off actual market value.
But then the assessment itself doesn't really matter, it's the assessment multiplied by effective property tax rate. It's a long awkward way to get there and rough but still is loosely tied to market value. Very loosely though...the guy down the block who hasn't power washed since the 90s has the same assessment as my house that's been nicely improved kept up by us and the prior owners, but whatever that works in our favor.
Tbh the deep state made sure Trump was the RNC pick. And the deep state knew Biden would quit , keeping Harris in
And the wars continue unabated
yes, there's a deep state conspiracy against major anti-war candidates such as ... uhhh ..... and ........ ummm ..........
Shouldn’t you there be 2 different deep state anyway ?
ok so lets say you bought a house and you got a good rate and now your home is overvalued 5 years later as the market adjusted. In another 5 years your homes value will have returned, maybe ten years, and you will likely be able to get a lower rate.
If you are in dire need of money you can rent out rooms/ the whole house to make your mortgage. but seeing as how your mortgage didnt change, you should be able to afford your payment, unless you lost your job, but that is not part of this example.
So
For starters, take a look at the amortization breakdown of a 30 eyar loan on how much goes to principle/interest with each year. Honestly, 10 years in might not even get you commissions and fees back.
Home values and rents tend to follow in tandem so if the value of your house were to take a substantial hit you could conceivably be forced to rent out a home at a rent price that is lower than your mortgage payment with taxes and insurance. And selling your home that has dropped 30%, amounting to 40% loss after fees would be a huge disaster for a lot of folks financially on a house that you paid 500K for.
One thing that wasn't discussed a lot in the housing crash of 08 was all the houses that were band aided and dressed up with crooked appraisers and home inspectors in order to sell it to all the cash strapped individuals who were willing to buy.
A lot of those people who bought those houses and ended up underwater didn't realize they also were going to have to pay for an 8-15 ac unit, 20k roof, plumbing repairs, flooring, carpentry or just spending redic amounts of money to bring a house up to code. People have literally committed suicide over being 100k+ in dept and needing additional money to repair something that they needed to fix - all while not being able to rent the house out for enough to pay the mortgage even if they snapped their fingers and found a reliable renter.
Now, in general as a whole buying is a +ev decision imo. But you could literally just take out the largest loan you could and throw it in the S@P and do better. 10% yoy returns will do you better in a lot of cases and wall street wont even ask you to fix their toilets when they go out.
You’re ignoring the price of rent, which you don’t have to pay as an owner
knew i was forgetting more groups they've attacked, and it just came to me: step parents, (probably) divorced/single parents and the unmarried, people without children (especially women, who are ~useless other than breeding). basically everyone outside of straight white conservatives with children on their first marriage.
and probably still more i'm forgetting...
also maga: why are we gonna lose this election ???
fair enough. but oddly trump probably respects gypsies because one scammed him in a game of three-card monte in 1977
very crafty people, i think they do the magic. they're so smart, you wouldn't believe it.
The amount of your taxes/insurance and repairs are likely to be a greater amount than the amount you pay towards your principal payment for a long time. So renters would be saving money in that spot.
Your also need your house to gain 20%+ in value to break even from both ends of buying and selling.
If you're underwater on your house, it's very likely that you won't be able to find tenants to pay enough to cover your mortgage + taxes +insurance and repairs. Which is what a lot of PWs discovered in real life when they got foreclosed on which led to the largest housing crash of 100 years.
