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Frankly, homes should not be financed
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Date: November 27th, 2017 10:20 AM Author: Curious partner hell People often talk about the student loan bubble and how availability of these loans has jacked up tuition. Well finance has done the same to housing prices.
I have little sympathy for shitheads crying about the Trump tax plan because it screws them on their home expenses - property taxes or mortgage deductions. If you bought a reasonably priced home outright, these things wouldn't concern you.
The obvious response to this will be "yeah bro just do buy million dollar home for cash." But one reason that home is a million dollars is because everyone and mother finances. |
Date: November 27th, 2017 10:21 AM Author: titillating hospital degenerate This is correct, same with student loans (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780615) |
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Date: November 27th, 2017 5:54 PM Author: Bronze fortuitous meteor parlor no. school loans are an investment. it's much easier to justify student loans than home loans. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34784079) |
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Date: November 27th, 2017 10:23 AM Author: Ocher theatre Cr. We're well on the way to total state control of citizenry through debt peonage, much of it wrought by government meddling in home prices, education, and health care. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780629) |
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Date: November 27th, 2017 10:28 AM Author: pungent useless brakes gas station evil stuff! seems very wrong!! (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780656) |
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Date: November 27th, 2017 10:30 AM Author: Pink abusive stead mental disorder (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780666) |
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Date: November 27th, 2017 10:26 AM Author: Comical Piazza Idea He Suggested Sounds to me like you don't own a home or pay property taxes. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780646) |
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Date: November 27th, 2017 10:29 AM Author: Charismatic love of her life round eye (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780660) |
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Date: November 27th, 2017 10:31 AM Author: Offensive nursing home friendly grandma (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780669) |
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Date: November 27th, 2017 10:33 AM Author: titillating hospital degenerate Sounds to me like you're a Jewish liberal (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780682) |
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Date: November 27th, 2017 12:26 PM Author: motley know-it-all keepsake machete rigpig (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781308) |
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Date: November 27th, 2017 10:35 AM Author: Curious partner hell I own a home outright; no mortgage. I also purchased a reasonably priced home. So the property taxes aren't exorbitant. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780701) |
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Date: November 27th, 2017 10:42 AM Author: Offensive nursing home friendly grandma plz advise as to how your shrew gf composts her waste in your trendy "tiny home" (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780734) |
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Date: November 27th, 2017 11:55 AM Author: cracking indecent candlestick maker the right move (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781102) |
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Date: November 27th, 2017 11:37 AM Author: Boyish Disturbing Ceo Water Buffalo (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780997) |
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Date: November 27th, 2017 11:38 AM Author: lascivious garnet church building Wife and I both own homes. We saved and took out mortgages under $500k. I agree with OP. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781009) |
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Date: November 27th, 2017 11:47 AM Author: Laughsome den puppy So just fuck anyone who lives in a more expensive area than you. Real principled (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781059) |
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Date: November 27th, 2017 11:51 AM Author: lascivious garnet church building yep (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781083) |
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Date: November 27th, 2017 11:55 AM Author: cracking indecent candlestick maker cr, fuck the coasts and libs (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781106) |
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Date: November 27th, 2017 11:56 AM Author: Laughsome den puppy You guys are just embarrassing at this point (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781110) |
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Date: November 27th, 2017 12:34 PM Author: lime goal in life point 180 (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781370) |
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Date: November 27th, 2017 11:59 AM Author: Chrome Lodge no one is forcing you to live there (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781141) |
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Date: November 27th, 2017 12:01 PM Author: Laughsome den puppy This is retarded policy. Our economy needs people to live in places like SF and MFH more so than Arkansas and we should be encouraging people to buy. This encourages renting from All-Cash chinese Buyers (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781152) |
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Date: November 27th, 2017 12:02 PM Author: Curious partner hell Instead of paying interest to All-Cash jewish Bankers? (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781164) |
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Date: November 27th, 2017 12:05 PM Author: Laughsome den puppy we should encourage people to build equity... (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781177) |
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Date: November 27th, 2017 12:05 PM Author: cracking indecent candlestick maker (realtor) (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781182) |
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Date: November 27th, 2017 12:09 PM Author: Laughsome den puppy Yeah pissing away money on rent for years in end is great for the middle class (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781207) |
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Date: November 27th, 2017 12:10 PM Author: Chrome Lodge you clearly don't own a home (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781211) |
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Date: November 27th, 2017 12:21 PM Author: lascivious garnet church building Nope, he just bought a home within his means. Move further out and commute or move to a less expensive city, faggot (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781281) |
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Date: November 27th, 2017 12:19 PM Author: Apoplectic digit ratio you are engaging in an extremely retarded line of thinking (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781270) |
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Date: November 27th, 2017 12:06 PM Author: Apoplectic digit ratio lol what (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781189) |
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Date: November 27th, 2017 12:07 PM Author: cracking indecent candlestick maker It's the irrational mouthpiece line of the real estate lobby for the past 50 years (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781196) |
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Date: November 27th, 2017 12:10 PM Author: Laughsome den puppy Wat (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781209) |
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Date: November 27th, 2017 12:06 PM Author: Chrome Lodge maybe you should do something about the all cash chinks instead of expecting the fed govt to subsidize your insane taxes and inflated home prices. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781188) |
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Date: November 27th, 2017 12:13 PM Author: lascivious garnet church building Lol @ this flame.
Why the fuck do we NEED to live in these places? Most are mindless office drones who could just as well do these jobs remotely from Nashville, Columbus, or Charlotte. |
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Date: November 27th, 2017 12:15 PM Author: cracking indecent candlestick maker O-P! E-R-A! |
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Date: November 27th, 2017 12:16 PM Author: lascivious garnet church building MY artisanal cheese shop
MY hit broadway musical
MY craft IPA |
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Date: November 27th, 2017 12:21 PM Author: Comical Piazza Idea He Suggested MY IPA TITS (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781285) |
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Date: November 27th, 2017 12:28 PM Author: jet reading party menage Maybe you can just enjoy your walmart lifestyle and stop telling everyone else how to live? (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781323) |
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Date: November 27th, 2017 12:31 PM Author: Laughsome den puppy (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781343) |
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Date: November 27th, 2017 12:32 PM Author: Curious partner hell live however you want. just don't expect others to subsidize your lifestyle via the tax code. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781355) |
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Date: November 27th, 2017 12:35 PM Author: jet reading party menage That's not what your OP purports. Stop shitting out kids and charging me to educate your little heathens with my handouts. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781373) |
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Date: November 27th, 2017 12:37 PM Author: lascivious garnet church building Children are what make this whole thing work, not your Labradoodle. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781393) |
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Date: November 27th, 2017 12:39 PM Author: jet reading party menage LOL at your drooling little tax deductions. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781411) |
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Date: November 27th, 2017 12:40 PM Author: lascivious garnet church building Lol. Ur so riled up ITT. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781424) |
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Date: November 27th, 2017 12:34 PM Author: lascivious garnet church building lol @ your lib tears.
At least you can walk down the block for a $25 farm fresh burger and $10 beer! |
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Date: November 27th, 2017 12:37 PM Author: jet reading party menage LOL at your impotent rage. I live in suburban phoenix and live a walmart lifestyle. I'm just LOLing at you subjecting everyone to some ideal you've come up in your head as some perfect blueprint for living. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781388) |
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Date: November 27th, 2017 1:33 PM Author: Laughsome den puppy they're becoming as fascistic as the libs (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781870) |
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Date: November 27th, 2017 5:46 PM Author: chest-beating medicated casino electric furnace Lol at your claims of bootstrapping when you get MAF at the prospect of the discontinuation of PAYE
You're a fucking cuck. |
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Date: November 27th, 2017 5:51 PM Author: lascivious garnet church building PAYE? (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34784056) |
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Date: November 27th, 2017 10:01 PM Author: chest-beating medicated casino electric furnace Maybe it was PSLF? Fuck if I know the details about the nigger handout that you signed yourself up for (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34785966) |
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Date: November 27th, 2017 10:26 AM Author: slap-happy internet-worthy famous landscape painting station When you pry open the home finance market/value chain you recoil in anger and dismay about its complexity and how bloated and disgusting it has become. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780648) |
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Date: November 27th, 2017 10:34 AM Author: Sooty concupiscible preventive strike liquid oxygen There are still many parts of this country where land and homes can be had very cheaply. People just need to get out shitty coastal blue states (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780693) |
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Date: November 27th, 2017 10:35 AM Author: Curious partner hell That is what I did. It's 180. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780704) |
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Date: November 27th, 2017 11:37 AM Author: Boyish Disturbing Ceo Water Buffalo Ditto (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781000) |
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Date: November 27th, 2017 11:39 AM Author: lascivious garnet church building Titcr, no more subsidizing coastal urban childless shrews (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781013) |
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Date: November 27th, 2017 11:40 AM Author: Offensive nursing home friendly grandma aren't...you.... (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781016) |
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Date: November 27th, 2017 11:40 AM Author: lascivious garnet church building (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781022) |
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Date: November 27th, 2017 12:01 PM Author: Purple pervert how do you feel about student loan deadbeats getting loan forgiveness? (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781155) |
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Date: November 27th, 2017 12:05 PM Author: cracking indecent candlestick maker gas (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781180) |
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Date: November 27th, 2017 12:11 PM Author: lascivious garnet church building They are 180 and entered into a binding agreement whereby they forewent more lucrative private sector salaries in exchange for foregiveness after 10 years. Even after 10 years, the average qualifying law student will still have paid around $65k. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781216) |
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Date: November 27th, 2017 4:32 PM Author: Laughsome den puppy (90IQ) (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34783361) |
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Date: November 27th, 2017 12:31 PM Author: Curious partner hell yeah that's bullshit too. we have no personal accountability. the crux of the problem is americans unwilling to live within their means and then expect others to bail out their spendthrift asses. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781345) |
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Date: November 27th, 2017 10:52 AM Author: Galvanic Snowy Chad Sounds like a great way to make sure only the elderly who've had years to save and people with inherited/family gift money have a good quality of life. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780772) |
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Date: November 27th, 2017 10:52 AM Author: shivering hunting ground immigrant (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34780773) |
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Date: November 27th, 2017 11:40 AM Author: lascivious garnet church building Or just dont expect to buy in MFH or SF... (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781017) |
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Date: November 27th, 2017 11:42 AM Author: white resort internal respiration The average american doesn't have $200k lying around or even the $50k necessary to buy some ramshackle barn in the middle of nowhere. There's nothing inherently wrong with financing the purchase of a house. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781034) |
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Date: November 27th, 2017 11:44 AM Author: lascivious garnet church building Its not unreasonable to save 30-40k for 10% down on a $300k home somewhere in the midwest or south. Evert penny of the interest on that $260k mortgage will stilk he deductible. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781044) |
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Date: November 27th, 2017 11:46 AM Author: chartreuse indian lodge scourge upon the earth not really. those families will take the higher standard deduction so mortgages will not be tax saving. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781052) |
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Date: November 27th, 2017 11:56 AM Author: cracking indecent candlestick maker might they consider renting an apartment for a time (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781113) |
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Date: November 27th, 2017 11:40 AM Author: white resort internal respiration (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781020) |
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Date: November 27th, 2017 11:43 AM Author: jet reading party menage LOL at this fat asshole telling the rest of us how we should live. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781036) |
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Date: November 27th, 2017 11:45 AM Author: Laughsome den puppy (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781047) |
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Date: November 27th, 2017 11:46 AM Author: Laughsome den puppy Cr defend this shit tax plan AT ALL COSTS (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781053) |
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Date: November 27th, 2017 1:58 PM Author: shivering hunting ground immigrant (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34782101) |
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Date: November 27th, 2017 11:50 AM Author: Apoplectic digit ratio why should someone pass up a 3-4% interest rate on a loan? (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781075) |
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Date: November 27th, 2017 11:55 AM Author: Laughsome den puppy low iq (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781107) |
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Date: November 27th, 2017 11:57 AM Author: cracking indecent candlestick maker sup mort (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781123) |
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Date: November 27th, 2017 12:27 PM Author: Odious National (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781313) |
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Date: November 27th, 2017 12:28 PM Author: lascivious garnet church building (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781322) |
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Date: November 27th, 2017 12:33 PM Author: Curious partner hell (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781363) |
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Date: November 27th, 2017 12:01 PM Author: Curious partner hell (((why indeed))) (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781158) |
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Date: November 27th, 2017 11:55 AM Author: cracking indecent candlestick maker I completely agree, it's great for banks and nobody else (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781096) |
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Date: November 27th, 2017 11:55 AM Author: vivacious home generalized bond i hate the mortgage interest deduction as much as anyone, and there’s a strong argument against govt intervention in mortgage markets via the GSEs, but this is just retarded lmao. just do arbitrarily deprive ourselves the benefits of modern consumer finance lol (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781098) |
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Date: November 27th, 2017 11:57 AM Author: jet reading party menage I know. Let's all buy a shack in Arkansas and make fun of people that don't live there. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781119) |
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Date: November 27th, 2017 11:59 AM Author: Laughsome den puppy No you don’t get it, no one should live in NYC or SF. And if they do, normal people should rent. That’s good because ummm... trump needs a win or something. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781136) |
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Date: November 27th, 2017 11:58 AM Author: Laughsome den puppy Counterpoint: fuck Libs TRUMP TRUMP TRUMP MAGA (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781127) |
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Date: November 27th, 2017 12:00 PM Author: cruel-hearted ruddy ladyboy If you're so poor you can't even buy a home with straight cash, you should probably just live on the streets. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781147) |
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Date: November 27th, 2017 12:21 PM Author: Puce abnormal heaven fat ankles lmao @ these shrieking unhinged coastal debtcucks (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781283) |
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Date: November 27th, 2017 12:22 PM Author: lascivious garnet church building (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781290) |
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Date: November 27th, 2017 12:28 PM Author: Trip chestnut office affirmative action (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781321) |
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Date: November 27th, 2017 12:25 PM Author: sinister ivory state community account Ljl @ degenerate XO posters (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781304) |
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Date: November 27th, 2017 12:30 PM Author: sick school cafeteria cuckoldry Itt: insulated libs who didn't realize they are the rich ones who they wanted to tax all along (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781342) |
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Date: November 27th, 2017 12:31 PM Author: Laughsome den puppy Twist: many of us aren’t liberal at all (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781346) |
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Date: November 27th, 2017 12:31 PM Author: jet reading party menage Do libs have a higher rate of home ownership? (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781347) |
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Date: November 27th, 2017 12:35 PM Author: lascivious garnet church building I suspect more Libs have mortgages over $500k (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781375) |
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Date: November 27th, 2017 12:40 PM Author: sick school cafeteria cuckoldry Libs or lib states, it's a direct subsidy for lib nanny states that's being taken away and they can't deal with the true cost of their bullshit. Sorry libs, MAGA (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781416) |
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Date: November 27th, 2017 12:31 PM Author: Charismatic love of her life round eye There is no income histogram that would support this (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781348) |
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Date: November 27th, 2017 12:36 PM Author: angry philosopher-king Wouldn't the result just be a massive increase in the rental market creating new incentives for the extremely wealthy to buy up real estate including suburban single family homes to rent to the non-wealthy?
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Date: November 27th, 2017 12:40 PM Author: Curious partner hell They can do that anyway. What is the stop someone wealthy from buying shit up right now? Which many do. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781417) |
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Date: November 27th, 2017 12:45 PM Author: vivacious home generalized bond he's saying the uptick in demand for rental housing would give rich people more of an incentive to buy up property, rent it out and earn a lovely return. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781472) |
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Date: November 27th, 2017 1:06 PM Author: angry philosopher-king Ty. I forgot that this is (xo 2017). (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781662) |
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Date: November 28th, 2017 2:52 AM Author: Canary theater (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34787581) |
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Date: November 27th, 2017 12:44 PM Author: cracking indecent candlestick maker This incentive already exists. Single family homes don't rent out in great volume because people who are renting often attempt to do so as cheaply as reasonable and won't shell out extra for more square footage.
People who BUY do just the opposite because it's OH IT'S DEDUCTIBLE |
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Date: November 27th, 2017 12:58 PM Author: Mind-boggling brilliant locale boiling water Depends on market. In San Jose, we rented our prior SFH and the open house had 20+ people come through in the ~4 hours or so we showed it. There are a LOT of people who are married w/ kids but priced out of home buying; these people do not want to live in an apartment, can pay a rent that's higher than a mortgage, but simply will never be able to save for a down payment. Our renters have been there 2+ years and no plans to move. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781579) |
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Date: November 27th, 2017 1:12 PM Author: angry philosopher-king No, people who buy are able to obtain financing and the mortgage payments are less than what it would be to rent a similar place. For example, to rent my home would cost at least 50% more than the all in mortgage and escrow payment.
Also, people view rent as a mostly nondeductible expense while mortgage is part deductible expense and part building equity in an asset.
Take away financing and deductability, and the demand for rental properties (especially in middle and upper middle class suburbs) explodes.
EDIT: people can also buy a fixer upper, make some upgrades and build equity that way. This is a benefit to home ownership through financing that has nothing to do with itemized deductions.
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Date: November 27th, 2017 1:34 PM Author: cracking indecent candlestick maker I don't agree, I think people moving into homes do not want and are loathe to tolerate landlords. Most people increase, rather than decrease their monthly outflow when they buy a home. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781876) |
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Date: November 27th, 2017 1:47 PM Author: angry philosopher-king What? Taking out economic benefit, being a renter IMO is better than being a homeowner especially for suburbanites who own single family homes.
Something goes wrong, it's the landlord's responsibility to fix. Property needs to be maintained? Fuck it, not my place let the landlord do it.
To the extent people increase their monthly expenses when they buy a home, that is probably because people are usually upgrading their residence when they buy. For example, I went from a $1,500/mo 2 bedroom 1 bath apartment to a 3 bed 2.5 bath SFR on .5 acres. My total mortgage payment including tax and escrow is $2,000/mo. To rent a comparable home would be at least $3,000/mo and probably more. I don't spend anywhere near $1,000/month on maintenance and a part of my mortgage payment pays down the mortgage plus I benefit from passive appreciation. |
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Date: November 27th, 2017 1:50 PM Author: cracking indecent candlestick maker I think you'd find few people to agree with you that renting a single family home is a preferable experience to owning it. Maybe for people without families who for some reason want a lot of space. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34782024) |
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Date: November 27th, 2017 1:53 PM Author: angry philosopher-king This is a discussion about economic incentives and taxation, and your entire argument is "i think people purchase real estate because they just like the feeling of owning their home."
I guess we are going to have to agree to disagree. |
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Date: November 27th, 2017 2:00 PM Author: cracking indecent candlestick maker If you don't think people moving into the single-family home market aren't doing so with long term family-centric goals in mind, which constitute a major factor in deciding whether or not to purchase total agency in their family's residence rather than renting from Shlomo who will continually increase the expense and then decline to renew their lease at will, causing them to uproot their entire family and life, idk what to tell you.
Removing homeownership tax deductions (which will trigger a corresponding drop in the purchase price of homes) will not juice the single family home rental market in any material way. It's a one-time swipe at people who are already holding homes and expected to cash in on the deduction long term. |
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Date: November 27th, 2017 2:45 PM Author: angry philosopher-king Your only economic argument prior to this post was that homeowners actually pay more than renters. Now you are arguing that people don't want to rent because Jew landlords will hike the rent and make it too expensive for people to rent single family homes creating instability for familymos (unless you believe that landlords habitually evict people for reasons other than non-payment of rent).
As to your second point, please re-read the thread and subthread. We aren't talking about deductions but the mortgage industry and making home ownership possible for middle classmos through financing. |
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Date: November 27th, 2017 12:47 PM Author: cruel-hearted ruddy ladyboy Everyone living in a Pottersville slum rental house (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781491) |
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Date: November 27th, 2017 1:03 PM Author: Mind-boggling brilliant locale boiling water I personally think you should only finance if you're truly going to do something else with the money that will reasonably be more productive than if you put it toward the house. Our primary home is worth about ~$2.3mm and we have about $885k on a 7/1 ARM that's at ~2.6%. At that low of a rate, it doesn't make sense to just pay it off.
The thing that really fucks us is property taxes, because in CA it's functionally tied to the price you originally paid for your home. That said, our home has appreciated about $600k above what we paid so technically our taxes (~$22k a year) are lower than "market". Also, fuck CA libs, I'm happy to take a hit on losing this deduction if it means giving the middle finger to the CA State Govt and forcing them to think twice about tax increases. |
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Date: November 27th, 2017 1:09 PM Author: lascivious garnet church building How long have you owned? (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781694) |
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Date: November 27th, 2017 1:31 PM Author: angry philosopher-king I would assume if you own a $2.3MM home you are likely in AMT and derive no benefit from the property tax deduction anyway. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781853) |
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Date: November 27th, 2017 4:29 PM Author: Mind-boggling brilliant locale boiling water Owned this home for ~2 years now. Bought it for just under $1.7mm (below list!), put in about $230k (which doesn't effect our home's tax valuation), two years later no homes in our neighborhood sell for less than $2.1mm, and those are fixer-uppers.
We are in fact AMT fucked (unless Trump saves us with this tax plan) but I'm not sure if that means we get ZERO value out of the tax deductions; we have Schedule E rental properties and I'm pretty sure we can count that against AMT. |
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Date: November 27th, 2017 4:51 PM Author: angry philosopher-king If I'm not mistaken, if you are in AMT, you add back your deductions for mortgage interest, SALT and property tax to calculate your AMTI and then pay the higher of your AMT and regular calculation.
For sch E you deduct as expenses your mortgage interest and property tax with the net income flowing to your 1040. This isn't an itemized deduction but represents an expense reducing your income from your rental real estate biz. |
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Date: November 27th, 2017 1:12 PM Author: hairraiser khaki macaca chapel This thread is monumentally fucking retarded. A 150k house in are country is easy for XOer to pay straight cash for, but singificantly less so for your standard are country bro making 50k. Those are the *majority* of people taking out mortgages in such areas, not the 1% of coastal yuppie elites who hied out to are country and now do dumb shit like ask "LOL WHY DOESN'T EVERYONE JUST PAY CASH FOR A HOUSE ITS SO EZ?" (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781725) |
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Date: November 27th, 2017 1:26 PM Author: sick school cafeteria cuckoldry This is true, but because of the low price they are usually better off with the standard deduction. I imagine few itemize (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781826) |
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Date: November 28th, 2017 6:52 PM Author: fishy jew telephone (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34792781) |
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Date: November 27th, 2017 1:32 PM Author: Laughsome den puppy (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781861) |
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Date: November 27th, 2017 1:32 PM Author: angry philosopher-king And a home is cheap as fuck in those areas because there are no jobs that would allow people to earn enough to pay more for them.
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Date: November 27th, 2017 1:35 PM Author: cracking indecent candlestick maker http://www.xoxohth.com/thread.php?thread_id=3810238&mc=55&forum_id=2 (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34781886) |
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Date: November 27th, 2017 1:51 PM Author: Curious partner hell Homes would be cheaper if financing would not be an option. Isn't this the logic XO applies to college tuition? (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34782026) |
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Date: November 27th, 2017 1:53 PM Author: cracking indecent candlestick maker yes and it's good logic (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34782056) |
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Date: November 27th, 2017 5:50 PM Author: lime goal in life point Tbf nothing wrong with financing, but the govt is deeply involved in the financing of both and wildly drives up the price. (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34784047) |
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Date: November 27th, 2017 5:57 PM Author: Disgusting karate People bought homes on a 3-5 year note until the 30s when (((they))) took over (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34784105) |
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Date: November 28th, 2017 2:58 AM Author: Grizzly market spin, ratfucks (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34787591) |
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Date: November 28th, 2017 2:59 AM Author: filthy azure death wish genital piercing lol @ the flailing retards ITT assuming that home prices would be the same. if this is actually put into practice housing prices would collapse and a decent starter home in are country would essentially be cost of construction plus a small profit margin (~100K) and would be affordable to an average are country bro making 50K a year within 7~10 years of working.
even MFH/SF/LA would see housing prices decrease a lot except for pockets where multimillionaires/foreign criminals buy homes
net effect would be that slightly less number of people would buy homes after waiting for a little longer than usual. it wont be the end of the world
a reasonable compromise would be allowing only 10/15 year mortgages
most countries in the world dont have 30 year mortgages |
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Date: November 28th, 2017 3:02 AM Author: Grizzly market spin, ratfucks (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34787599) |
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Date: November 28th, 2017 9:17 AM Author: Apoplectic digit ratio lol at you assuming that the rich wouldn't just buy up all the housing in this scenario (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34788207) |
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Date: November 28th, 2017 3:32 AM Author: outnumbered ticket booth Rental communities are shit pure shit. No one wants renters, they want to live in a good area where people own and have a stake. So while it is nice to say no financing on house at all, that is not realistic considering many people finance iPhones. Trashing FHA loans and anything with less than 20% down I am all for. Removing the interest deduction even though it fucks me personally as it is my one AMT deduction, I could even see as a good thing, but without any financing to purchase, you basically shift an aweful lot of people to renters. Capital would rush in and provide people with leases, maybe even very long term leases, on residential properties. We can debate whether on a mid-to-Long-term horizon that makes housing cheaper or not, but one look at things like rent to own schemes or the aggregate cost to rent v. own for most of the US over a decent time horizon and the answer is people will just get fucked more.
And to the student loan comparison the biggest difference is that for the vat majority of housing loans there is good underwriting (we saw what happened when there was not) and pricing, unlike student loans which are doled out at the same usorious rate regardless of ability to repay (because of fucktard government regulation which vastly outpacing tax deductions) to kids who can’t understand it (let alone who have had the house required discipline to have decent credit and a down payment).
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Date: November 28th, 2017 6:54 PM Author: fishy jew telephone (http://www.autoadmit.com/thread.php?thread_id=3810127&forum_id=2#34792800) |