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(former)FormerSanDiegan
ParticipantThe original question here is akin to “how much does a car cost? I heard they are about $25,000.
It depends. Do you want a Mercedes, Hinda Civic, Ferarri ? The answer is, it’s somewhere between $20K and $300K.
Same goes for a house. You could spend between $30k to $300K for a remodel, depending on how extensive it is.
e.g.
1. Paint, carpet, appliances ~ 10-30 K
2. New windows, re-stucco ?
3. New roof? TIle, composit, flat, or blue tarps ?
4. Bathrooms ? COmplete re-do, replace vanity ? replace tub?, new shower ? new toilets ?
5. FLooring. 100% hardwood replacement ? Carpet ? linoleum ? dirt ?
6. Kitchen : resurface cabinets ? new cabinets ? reconfigure ? Combine area with dining room ?ParticipantBriansd1, I Love the string of cliches, but we WOULD have pride of (multiple property) ownership … and pride of tax sheltership. Also, we have the same curtains, wall colors, lights, appliances, etc as when we moved into out house. The only thing we added was nails to the wall for pictures (even then we reused 80% of existing ones) and light bulbs when they went out. Oh yeah, we also added a CO detector and some 9 volt batteries for the smoke detectors. The homeowner premium will be obvious in about 20 years when the existing tenants are payIng for our retirement.
People who take this approach if MID were eliminated would also have the freedom to move into new rentals as their needs or jobs change,which, as you know is a huge advantage to renting. People could rent in best school district for a few more years, then move into the condo with a view. The approach I outlined might be the optimal solution for many folks with upper middle class incomes and decent-sized mortgages. Now that i’ve thought about it more I am kinda motivated to run the numbers and see where it gets me. Maybe we can move into a trailer park rental, rent out our McMansion and retire now.
And the government would have to find another loophole to close to collect the rest of the $100 billion.ParticipantBriansd1, I Love the string of cliches, but we WOULD have pride of (multiple property) ownership … and pride of tax sheltership. Also, we have the same curtains, wall colors, lights, appliances, etc as when we moved into out house. The only thing we added was nails to the wall for pictures (even then we reused 80% of existing ones) and light bulbs when they went out. Oh yeah, we also added a CO detector and some 9 volt batteries for the smoke detectors. The homeowner premium will be obvious in about 20 years when the existing tenants are payIng for our retirement.
People who take this approach if MID were eliminated would also have the freedom to move into new rentals as their needs or jobs change,which, as you know is a huge advantage to renting. People could rent in best school district for a few more years, then move into the condo with a view. The approach I outlined might be the optimal solution for many folks with upper middle class incomes and decent-sized mortgages. Now that i’ve thought about it more I am kinda motivated to run the numbers and see where it gets me. Maybe we can move into a trailer park rental, rent out our McMansion and retire now.
And the government would have to find another loophole to close to collect the rest of the $100 billion.ParticipantBriansd1, I Love the string of cliches, but we WOULD have pride of (multiple property) ownership … and pride of tax sheltership. Also, we have the same curtains, wall colors, lights, appliances, etc as when we moved into out house. The only thing we added was nails to the wall for pictures (even then we reused 80% of existing ones) and light bulbs when they went out. Oh yeah, we also added a CO detector and some 9 volt batteries for the smoke detectors. The homeowner premium will be obvious in about 20 years when the existing tenants are payIng for our retirement.
People who take this approach if MID were eliminated would also have the freedom to move into new rentals as their needs or jobs change,which, as you know is a huge advantage to renting. People could rent in best school district for a few more years, then move into the condo with a view. The approach I outlined might be the optimal solution for many folks with upper middle class incomes and decent-sized mortgages. Now that i’ve thought about it more I am kinda motivated to run the numbers and see where it gets me. Maybe we can move into a trailer park rental, rent out our McMansion and retire now.
And the government would have to find another loophole to close to collect the rest of the $100 billion.ParticipantBriansd1, I Love the string of cliches, but we WOULD have pride of (multiple property) ownership … and pride of tax sheltership. Also, we have the same curtains, wall colors, lights, appliances, etc as when we moved into out house. The only thing we added was nails to the wall for pictures (even then we reused 80% of existing ones) and light bulbs when they went out. Oh yeah, we also added a CO detector and some 9 volt batteries for the smoke detectors. The homeowner premium will be obvious in about 20 years when the existing tenants are payIng for our retirement.
People who take this approach if MID were eliminated would also have the freedom to move into new rentals as their needs or jobs change,which, as you know is a huge advantage to renting. People could rent in best school district for a few more years, then move into the condo with a view. The approach I outlined might be the optimal solution for many folks with upper middle class incomes and decent-sized mortgages. Now that i’ve thought about it more I am kinda motivated to run the numbers and see where it gets me. Maybe we can move into a trailer park rental, rent out our McMansion and retire now.
And the government would have to find another loophole to close to collect the rest of the $100 billion.ParticipantBriansd1, I Love the string of cliches, but we WOULD have pride of (multiple property) ownership … and pride of tax sheltership. Also, we have the same curtains, wall colors, lights, appliances, etc as when we moved into out house. The only thing we added was nails to the wall for pictures (even then we reused 80% of existing ones) and light bulbs when they went out. Oh yeah, we also added a CO detector and some 9 volt batteries for the smoke detectors. The homeowner premium will be obvious in about 20 years when the existing tenants are payIng for our retirement.
People who take this approach if MID were eliminated would also have the freedom to move into new rentals as their needs or jobs change,which, as you know is a huge advantage to renting. People could rent in best school district for a few more years, then move into the condo with a view. The approach I outlined might be the optimal solution for many folks with upper middle class incomes and decent-sized mortgages. Now that i’ve thought about it more I am kinda motivated to run the numbers and see where it gets me. Maybe we can move into a trailer park rental, rent out our McMansion and retire now.
And the government would have to find another loophole to close to collect the rest of the $100 billion.ParticipantREZ – ETF based on rental property index. Primarily residental rentals, storage facilities and medical rentals.
If, when there is recovery …
O – Company REIT, headquartered in SD. Retail (sensitive to business cycle)ParticipantREZ – ETF based on rental property index. Primarily residental rentals, storage facilities and medical rentals.
If, when there is recovery …
O – Company REIT, headquartered in SD. Retail (sensitive to business cycle)ParticipantREZ – ETF based on rental property index. Primarily residental rentals, storage facilities and medical rentals.
If, when there is recovery …
O – Company REIT, headquartered in SD. Retail (sensitive to business cycle)ParticipantREZ – ETF based on rental property index. Primarily residental rentals, storage facilities and medical rentals.
If, when there is recovery …
O – Company REIT, headquartered in SD. Retail (sensitive to business cycle)ParticipantREZ – ETF based on rental property index. Primarily residental rentals, storage facilities and medical rentals.
If, when there is recovery …
O – Company REIT, headquartered in SD. Retail (sensitive to business cycle)ParticipantI also disagree with the thesis that eliminaiton of the mortgage interest deduction would result in increased tax revenue for Government.
There’s no way they would reap the $100 Billion claimed (see #1 below). I think there can lso be an argument made that the end result might even result in a loss in revenue to state & local governments equal to or larger than the $100 billionHere’s why:
1. People respond to changes in tax code. I, for example would rent out my primary and move into a rental. The mortgage interest I currently pay would turn into a business expense.
2. Elimination in MID would put downward pressure on home prices. In the long-run property prices will be lower than they would have been if the MID were in effect, resulting in decreased property tax revenues to local/state governments.
ParticipantI also disagree with the thesis that eliminaiton of the mortgage interest deduction would result in increased tax revenue for Government.
There’s no way they would reap the $100 Billion claimed (see #1 below). I think there can lso be an argument made that the end result might even result in a loss in revenue to state & local governments equal to or larger than the $100 billionHere’s why:
1. People respond to changes in tax code. I, for example would rent out my primary and move into a rental. The mortgage interest I currently pay would turn into a business expense.
2. Elimination in MID would put downward pressure on home prices. In the long-run property prices will be lower than they would have been if the MID were in effect, resulting in decreased property tax revenues to local/state governments.
ParticipantI also disagree with the thesis that eliminaiton of the mortgage interest deduction would result in increased tax revenue for Government.
There’s no way they would reap the $100 Billion claimed (see #1 below). I think there can lso be an argument made that the end result might even result in a loss in revenue to state & local governments equal to or larger than the $100 billionHere’s why:
1. People respond to changes in tax code. I, for example would rent out my primary and move into a rental. The mortgage interest I currently pay would turn into a business expense.
2. Elimination in MID would put downward pressure on home prices. In the long-run property prices will be lower than they would have been if the MID were in effect, resulting in decreased property tax revenues to local/state governments.
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