NR: refi or not?

[Anonymous]

[quote=xtalprotector][…] the stock market crashed, driven by the fear of taxing the “rich”. [/quote]

Oh, so that’s why it crashed? All this time I was thinking it had to do with substantially lower corporate earnings, or the write down of billions in worthless assets on company balance sheets.

It makes sense now: a small increase in the marginal tax rate at the top bracket is actually what tanked the economy. For further proof, look at the tax rates in the decades following WWII, and we can see how devastating a progressive tax is to our economy.

[an]

[quote=pri_dk][quote=xtalprotector][…] the stock market crashed, driven by the fear of taxing the “rich”. [/quote]

Oh, so that’s why it crashed? All this time I was thinking it had to do with substantially lower corporate earnings, or the write down of billions in worthless assets on company balance sheets.

It makes sense now: a small increase in the marginal tax rate at the top bracket is actually what tanked the economy. For further proof, look at the tax rates in the decades following WWII, and we can see how devastating a progressive tax is to our economy.
[/quote]
You might want to reread the whole post.

[an]

[quote=pri_dk][quote=xtalprotector][…] the stock market crashed, driven by the fear of taxing the “rich”. [/quote]

Oh, so that’s why it crashed? All this time I was thinking it had to do with substantially lower corporate earnings, or the write down of billions in worthless assets on company balance sheets.

It makes sense now: a small increase in the marginal tax rate at the top bracket is actually what tanked the economy. For further proof, look at the tax rates in the decades following WWII, and we can see how devastating a progressive tax is to our economy.
[/quote]
You might want to reread the whole post.

[an]

[quote=pri_dk][quote=xtalprotector][…] the stock market crashed, driven by the fear of taxing the “rich”. [/quote]

Oh, so that’s why it crashed? All this time I was thinking it had to do with substantially lower corporate earnings, or the write down of billions in worthless assets on company balance sheets.

It makes sense now: a small increase in the marginal tax rate at the top bracket is actually what tanked the economy. For further proof, look at the tax rates in the decades following WWII, and we can see how devastating a progressive tax is to our economy.
[/quote]
You might want to reread the whole post.

[an]

[quote=pri_dk][quote=xtalprotector][…] the stock market crashed, driven by the fear of taxing the “rich”. [/quote]

Oh, so that’s why it crashed? All this time I was thinking it had to do with substantially lower corporate earnings, or the write down of billions in worthless assets on company balance sheets.

It makes sense now: a small increase in the marginal tax rate at the top bracket is actually what tanked the economy. For further proof, look at the tax rates in the decades following WWII, and we can see how devastating a progressive tax is to our economy.
[/quote]
You might want to reread the whole post.

[an]

[quote=pri_dk][quote=xtalprotector][…] the stock market crashed, driven by the fear of taxing the “rich”. [/quote]

Oh, so that’s why it crashed? All this time I was thinking it had to do with substantially lower corporate earnings, or the write down of billions in worthless assets on company balance sheets.

It makes sense now: a small increase in the marginal tax rate at the top bracket is actually what tanked the economy. For further proof, look at the tax rates in the decades following WWII, and we can see how devastating a progressive tax is to our economy.
[/quote]
You might want to reread the whole post.

[Anonymous]

[quote=AN]You might want to reread the whole post.
[/quote]

Agree that the comment about “buying before the crash” could be interpreted different ways. Perhaps he’s claiming that he timed the stock market.

Or perhaps he chose to buy into a obviously overpriced real estate market, just to get a tax break. Should have done the math on that one. The increase in tax rate is only for the portion of income over $250K, and even that is not much of a change.

Unless they are making a lot more more than $250K (and the price/loan terms on their house suggests probably not), then the consequences of the tax changes should not prompt someone to buy.

[Anonymous]

[quote=AN]You might want to reread the whole post.
[/quote]

Agree that the comment about “buying before the crash” could be interpreted different ways. Perhaps he’s claiming that he timed the stock market.

Or perhaps he chose to buy into a obviously overpriced real estate market, just to get a tax break. Should have done the math on that one. The increase in tax rate is only for the portion of income over $250K, and even that is not much of a change.

Unless they are making a lot more more than $250K (and the price/loan terms on their house suggests probably not), then the consequences of the tax changes should not prompt someone to buy.

[Anonymous]

[quote=AN]You might want to reread the whole post.
[/quote]

Agree that the comment about “buying before the crash” could be interpreted different ways. Perhaps he’s claiming that he timed the stock market.

Or perhaps he chose to buy into a obviously overpriced real estate market, just to get a tax break. Should have done the math on that one. The increase in tax rate is only for the portion of income over $250K, and even that is not much of a change.

Unless they are making a lot more more than $250K (and the price/loan terms on their house suggests probably not), then the consequences of the tax changes should not prompt someone to buy.

[Anonymous]

[quote=AN]You might want to reread the whole post.
[/quote]

Agree that the comment about “buying before the crash” could be interpreted different ways. Perhaps he’s claiming that he timed the stock market.

Or perhaps he chose to buy into a obviously overpriced real estate market, just to get a tax break. Should have done the math on that one. The increase in tax rate is only for the portion of income over $250K, and even that is not much of a change.

Unless they are making a lot more more than $250K (and the price/loan terms on their house suggests probably not), then the consequences of the tax changes should not prompt someone to buy.

[Anonymous]

[quote=AN]You might want to reread the whole post.
[/quote]

Agree that the comment about “buying before the crash” could be interpreted different ways. Perhaps he’s claiming that he timed the stock market.

Or perhaps he chose to buy into a obviously overpriced real estate market, just to get a tax break. Should have done the math on that one. The increase in tax rate is only for the portion of income over $250K, and even that is not much of a change.

Unless they are making a lot more more than $250K (and the price/loan terms on their house suggests probably not), then the consequences of the tax changes should not prompt someone to buy.

[xtalprotector]

We have a jumbo conforming loan from chase, no 2nd loan, might not be as easy to refi.

House is in an average location of Torry Hills. Using 2000 builder price with 3% annual inflation will put it around 670K. It dropping below 690K alone might not motivate me to walk. But when that happens, the probability of loosing both engineer incomes is very high, combined with no recovery in sight and possible finding jobs somewhere else … I might.

I agree whatever reason made us bought last summer probably doesn’t make any sense now. We knew house price will go down further but completely underestimated the fallout of Wall Street followed by global recession.

I guess how fast CV price drops is another factor too. When do you think it will hit 690K level, 2010, 2011?

[xtalprotector]

We have a jumbo conforming loan from chase, no 2nd loan, might not be as easy to refi.

House is in an average location of Torry Hills. Using 2000 builder price with 3% annual inflation will put it around 670K. It dropping below 690K alone might not motivate me to walk. But when that happens, the probability of loosing both engineer incomes is very high, combined with no recovery in sight and possible finding jobs somewhere else … I might.

I agree whatever reason made us bought last summer probably doesn’t make any sense now. We knew house price will go down further but completely underestimated the fallout of Wall Street followed by global recession.

I guess how fast CV price drops is another factor too. When do you think it will hit 690K level, 2010, 2011?

[xtalprotector]

We have a jumbo conforming loan from chase, no 2nd loan, might not be as easy to refi.

House is in an average location of Torry Hills. Using 2000 builder price with 3% annual inflation will put it around 670K. It dropping below 690K alone might not motivate me to walk. But when that happens, the probability of loosing both engineer incomes is very high, combined with no recovery in sight and possible finding jobs somewhere else … I might.

I agree whatever reason made us bought last summer probably doesn’t make any sense now. We knew house price will go down further but completely underestimated the fallout of Wall Street followed by global recession.

I guess how fast CV price drops is another factor too. When do you think it will hit 690K level, 2010, 2011?

[xtalprotector]

We have a jumbo conforming loan from chase, no 2nd loan, might not be as easy to refi.

House is in an average location of Torry Hills. Using 2000 builder price with 3% annual inflation will put it around 670K. It dropping below 690K alone might not motivate me to walk. But when that happens, the probability of loosing both engineer incomes is very high, combined with no recovery in sight and possible finding jobs somewhere else … I might.

I agree whatever reason made us bought last summer probably doesn’t make any sense now. We knew house price will go down further but completely underestimated the fallout of Wall Street followed by global recession.

I guess how fast CV price drops is another factor too. When do you think it will hit 690K level, 2010, 2011?

[Author]

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