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CoronitaParticipant[quote=djc][quote=plm][quote=FlyerInHi]I think technically Mello Roos is not tax deductible. But people do it anyway.[/quote]
I think there was come clarification by the IRS that the mello roos are tax deductible in response to something CA tried to do.[/quote]
Reviving this old thread.
Anyone have further info on the above? This impacts me this tax year. :)[/quote]
they already ruled on it…since 2012
CoronitaParticipantLol. Trump is complaining again that something made in the US costs too much…
F35 joint strike fighter.
http://money.cnn.com/2016/12/12/investing/donald-trump-lockheed-martin-f-35-tweet/index.html
I sort of agree with him on this one.
CoronitaParticipant[quote=flyer]I know you kids are too young to remember this (I’m in my 50’s) but there were homes in Del Mar that went for the $300’s as recently as the 90’s and are now going for $1.8+.
That’s why it’s unlikely that those who bought during those years and prior will have any problem keeping their homes, or being affected by a crash when it comes to coastal properties.
Still, there might be some hope in picking something up from those who came in later and are in over their heads–should the economy really take a dive again, but even then, there will always be competition for these type of properties.[/quote]
I would say that the majority of the beachfront homes here are not really investments for most people. They are now status symbols…
The best thing is to figure out how to make a shetload of money doing something else, to buy that status symbol, if that is your thing.
Fortunately, I don’t have an addiction to house porn, so that’s not on the high list of things I hope to accomplish.
CoronitaParticipant[quote=AN][quote=mixxalot]My hope and dream would be the burst of the bubble here in southern California and San Diego real estate prices to drop at least 30-40% then I can buy that nice coastal place for under a million bucks instead of letting it sit in bank with no growth.[/quote]You and me both :-D[/quote]
I think there’s definitely more than the three of us… And that’s the problem 🙂
CoronitaParticipant[quote=mixxalot]My hope and dream would be the burst of the bubble here in southern California and San Diego real estate prices to drop at least 30-40% then I can buy that nice coastal place for under a million bucks instead of letting it sit in bank with no growth.[/quote]
Yeah, I know…A lot of people were hoping for the same thing during the Great Recession. It never happened…Because there is plenty of sideline money that would jump well before a sub-million price tag hit if it was coastal.
CoronitaParticipantSorry zk.
I don’t give financial advice anymore I’ve learned my lesson. And the worst thing that could possibly happen is that people I like actually listen to what I have to say and get screwed over for doing it.
Ping rich or some folks that know what they are doing.
CoronitaParticipant[quote=zk]I predict trump will continue to create his own alternate reality (denying, for instance, anything the CIA or any other agency says that he doesn’t like), and that his idiot followers will believe that his “reality” is actual reality.[/quote]
It’s time to come to terms with the reality. Might as well try to profit off of it. At the end of 4 years populists probably won’t be better off. But you certainly can be.
Time to start thinking for yourself and your family.
Don’t fall down..
Just think of this in terms of third person narrative. This is of comic proportions.
We will settle somewhere in the .middle one of these days….
Just look at how BrExit is going. Talk about buyers remorse. They are already trying to redefine what NO means…like it doesn’t necessarily mean “leaving the single market”
CoronitaParticipant[quote=spdrun]I’m saying I hope to ride the natural economic cycle (which tends to reset every 8-10 years). But if Trump turns this country into a literal police state, I’m out.[/quote]
But what if you bought a house because it was on sale, and then they started to do mass deportation? Wouldn’t you be in a pickle because you bought thinking prices were low, and then they started mass deportation, which drove prices lower.
Would you sell and get out of the US, at a loss?
CoronitaParticipantSpeaking of Trump… I was chuckling at his comment when he saw the pricetag for Air Force One…
“Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!”
Lol…
Ah yes…That pretty much sums up the conudrum of products for american consumers….
1. Either the american product is going to be more expensive (sometimes considerably more) and alienate some potential customers, no matter how patriotic they claim they are
or
2. The product from the american company is not going to be completely made in america
or
3. The product from the american company is not going to be completely made with american labor
or
4. The product made in america sold at a cheap cost will need a government subsidy
or
5. The company that made the product in america with american labor, sold at a cheap cost, without a government subsidy, will go out of business.
CoronitaParticipant[quote=scaredyclassic]it does seem kind of comical.
the days of honest work for pay may be quaint history soon. maybe the quick movement of all the $ to the top will bring us to Universal Basic Income quicker. say, 1 percent of the country holds the assets, 60 perc. lay idle, and the rest are in prison or fighting small wars.
money is supposed to flow from the foolish or desperate to the stronger hands. if the nation is desperate enough to take a chance on trump, perhaps it is a sign of an efficient marketplace that they be fully fleeced. man trump is fat. let him engirge himself on all the monies.
man i wish i were rich and not just a lowly 2 percenter.[/quote]
2% will survive, redefined as middle class. Lol…you’ll be fine…. Your kids…..well, marry well…. Lol…
CoronitaParticipantI’m looking at all the cabinet appointees, and I’m thinking that unfortunately for a lot of people in this country, I think this country is quickly going to turn even more into an oligarchy, similar to what we already have in countries like China, Mexico, Russia…where a tiny percentage of the population ends up controlling all the resources in America: housing, energy, bank/finance, etc.
With the exception of military appointments, all the other appointments have gone nowhere near populists or populism but to incredibly wealthy individuals who contributed to Trump’s presidency.
It’s almost comical.. We have an EPA appointment from corporate america that is anti-EPA, an labor appointment from corporate america that against labor unions and minimum wage laws, and a sec of state from corporate ameria that is buddy buddy with Russia (Exxon Mobil)…And a Treasury pick that already said he was interested in deregulating banks (hence why FNMA and FMCC is going crazy)…And there’s a few other folks from Goldman Sachs that are lining up for important government positions as well.
I don’t know, I think this will accelerate wealth transfer for assert hoarders.
Don’t fall down.
CoronitaParticipant[quote=spdrun]If mass deportations and arrests start happening, this won’t be the sort of country I wish to live in. I stand by what I said.
I would take advantage of a natural economic cycle. Profiting from arrests and deportation is a bit too close to Nazi gold to me.[/quote]
So the extreme econimoc collapse that you are holding out for, what do you think will happen as a result? Don’t you think the two are related? Who do you think would be blamed for econoomic collapse?
Imho, before we see an economic collapse, well be busy fighting another war…. Just saying
CoronitaParticipant[quote=spdrun]Recessions happen every few years. We’re getting overdue for one.
Goal during the next one is to purchase enough rental housing so I can bow out of the race for the rest of my life and do whatever the hell I want to.
Fifty-sixty grand a year or so, adjusted for inflation, should allow me to rock back on my heels and enjoy life. Maybe take some Federal loans and go to graduate school. Public university, which in NYC is dirt cheap.
Since I’m cheap as hell, I don’t actually need more. I have no interest in running to keep up with people whom I dislike. I have no interest in most material things other than income-producing housing.
I buy computers and phones for under $200 an item. I’ve never spent more than $3000 for a car. No real hobbies other than travel, and I tend to travel like a student, on the cheap. I’m a born repairman with a third-world scrounger, scrooge mentality, and I’m proud of this.[/quote]
Wait but on another thread you said you wouldn’t be playing in this game if foreclosure is a result of mass deportation.
So which is it?
CoronitaParticipantThe problem with running up debt is that upon death is I’m wondering if it can count against your estate. If you were that uncaring, you could run up your debt right now, provided you provided a separate trust for your kids and sheltered what they inherit from you. But I suspect easier said than done.
Besides, I don’t think people “choose” to run up their debt if they had a choice between being in no debt or being in debt. So if you’re already thinking about this, you’re already probably one who is financially responsible who would never do this. It becomes a theoretical exercise into “how can i mess with the system without getting screwed over by it”….
I think there’s perhaps a different way of looking at this problem, that I personally have adopted. Aside from setting enough aside for my kid in a trust, I don’t plan on living very long… 🙂
It’s just not practically feasible given everything that will most likely go wrong.
It’s like having a german car. You know the longer you keep it, the bigger the headache it will be as just it’s guaranteed to steadily get worse and worse each year after it reaches a certain age….So after a certain age, you just put in oil and gas, and drive it until it goes into the ground, with minimum financial maintenance….
So figure maybe a good another 23 years on the odometer, that would take me to roughly 65…Just in time for that I can start withdrawing from 401k/IRA, and perfect time for my kid to inherit and get that capital gains step up cost basis when I’m dead. And by that age, my kid will be a young adult. Maybe married, maybe not. But she’ll definitely have her own house by then (of course I’ll be paying for it)…
This is such an awesome watch.. I recommend everyone gets one..
http://www.telegraph.co.uk/technology/news/10396053/Death-watch-counts-down-to-end-of-wearers-life.html‘Death watch’ counts down to end of wearer’s life
Embrace death…Use your years wisely….Those 23 years come up pretty quick…
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