[patientrenter]

[quote=SD Squatter]

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.[/quote]

Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.

[patientrenter]

[quote=SD Squatter]

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.[/quote]

Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.

[patientrenter]

[quote=SD Squatter]

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.[/quote]

Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.

[patientrenter]

[quote=SD Squatter]

There is a maximum benefit cap of $50,000 per qualifying household, although with matching lender funds, the maximum per household would result in $100,000 in assistance.

Thank you America, our struggling banks, struggling wall street, and strugging flippers appreciate your generosity.

Thank you.[/quote]

Homeowners are a majority of voters. A voting majority can vote themselves a lot of goodies. An awful lot.

[patientrenter]

[quote=DWCAP]……(how many expert 5star party planners or luxery car maintaince workers do we need???) that the economy doesnt really need. Not to mention all the luxery cars and houses that have little demand but already exist, weighing on future supply/ prices…..[/quote]

Intellectually, there is an argument between those who argue that what we need is mostly just a boost in aggregate demand, and those who argue that we need a restructuring more. If the demand diagnosis is correct, it can be partially cured by maintaining high asset prices (aka bubbles). If the restructuring diagnosis is correct, then we need to deflate all the asset price bubbles.

In reality, Bernanke and Geithner and Summers and so on are part of a community that needs a continuation of high asset prices to prosper. They will therefore favor the first diagnosis, using just the supporting intellectual arguments, of course.

We will get our restructuring only when all other options have been completely exhausted. We will quit our asset price bubble addictions only when all sources for getting high are completely gone.

[patientrenter]

[quote=DWCAP]……(how many expert 5star party planners or luxery car maintaince workers do we need???) that the economy doesnt really need. Not to mention all the luxery cars and houses that have little demand but already exist, weighing on future supply/ prices…..[/quote]

Intellectually, there is an argument between those who argue that what we need is mostly just a boost in aggregate demand, and those who argue that we need a restructuring more. If the demand diagnosis is correct, it can be partially cured by maintaining high asset prices (aka bubbles). If the restructuring diagnosis is correct, then we need to deflate all the asset price bubbles.

In reality, Bernanke and Geithner and Summers and so on are part of a community that needs a continuation of high asset prices to prosper. They will therefore favor the first diagnosis, using just the supporting intellectual arguments, of course.

We will get our restructuring only when all other options have been completely exhausted. We will quit our asset price bubble addictions only when all sources for getting high are completely gone.

[patientrenter]

[quote=DWCAP]……(how many expert 5star party planners or luxery car maintaince workers do we need???) that the economy doesnt really need. Not to mention all the luxery cars and houses that have little demand but already exist, weighing on future supply/ prices…..[/quote]

Intellectually, there is an argument between those who argue that what we need is mostly just a boost in aggregate demand, and those who argue that we need a restructuring more. If the demand diagnosis is correct, it can be partially cured by maintaining high asset prices (aka bubbles). If the restructuring diagnosis is correct, then we need to deflate all the asset price bubbles.

In reality, Bernanke and Geithner and Summers and so on are part of a community that needs a continuation of high asset prices to prosper. They will therefore favor the first diagnosis, using just the supporting intellectual arguments, of course.

We will get our restructuring only when all other options have been completely exhausted. We will quit our asset price bubble addictions only when all sources for getting high are completely gone.

[patientrenter]

[quote=DWCAP]……(how many expert 5star party planners or luxery car maintaince workers do we need???) that the economy doesnt really need. Not to mention all the luxery cars and houses that have little demand but already exist, weighing on future supply/ prices…..[/quote]

Intellectually, there is an argument between those who argue that what we need is mostly just a boost in aggregate demand, and those who argue that we need a restructuring more. If the demand diagnosis is correct, it can be partially cured by maintaining high asset prices (aka bubbles). If the restructuring diagnosis is correct, then we need to deflate all the asset price bubbles.

In reality, Bernanke and Geithner and Summers and so on are part of a community that needs a continuation of high asset prices to prosper. They will therefore favor the first diagnosis, using just the supporting intellectual arguments, of course.

We will get our restructuring only when all other options have been completely exhausted. We will quit our asset price bubble addictions only when all sources for getting high are completely gone.

[patientrenter]

[quote=DWCAP]……(how many expert 5star party planners or luxery car maintaince workers do we need???) that the economy doesnt really need. Not to mention all the luxery cars and houses that have little demand but already exist, weighing on future supply/ prices…..[/quote]

Intellectually, there is an argument between those who argue that what we need is mostly just a boost in aggregate demand, and those who argue that we need a restructuring more. If the demand diagnosis is correct, it can be partially cured by maintaining high asset prices (aka bubbles). If the restructuring diagnosis is correct, then we need to deflate all the asset price bubbles.

In reality, Bernanke and Geithner and Summers and so on are part of a community that needs a continuation of high asset prices to prosper. They will therefore favor the first diagnosis, using just the supporting intellectual arguments, of course.

We will get our restructuring only when all other options have been completely exhausted. We will quit our asset price bubble addictions only when all sources for getting high are completely gone.

[patientrenter]

[quote=sdrealtor]…He says from the front seat of his Yugo while listening to 8 Track tapes[/quote]

LoL!

That’s not far off, 20 years ago. I’ve upgraded a little since those days. That’s an advantage of being careful about spending.

scaredy, I feel comfortable spending 10% on a home, but only if it’s an all cash deal (without any mortgage). You have to find your own comfort point.

[patientrenter]

[quote=sdrealtor]…He says from the front seat of his Yugo while listening to 8 Track tapes[/quote]

LoL!

That’s not far off, 20 years ago. I’ve upgraded a little since those days. That’s an advantage of being careful about spending.

scaredy, I feel comfortable spending 10% on a home, but only if it’s an all cash deal (without any mortgage). You have to find your own comfort point.

[patientrenter]

[quote=sdrealtor]…He says from the front seat of his Yugo while listening to 8 Track tapes[/quote]

LoL!

That’s not far off, 20 years ago. I’ve upgraded a little since those days. That’s an advantage of being careful about spending.

scaredy, I feel comfortable spending 10% on a home, but only if it’s an all cash deal (without any mortgage). You have to find your own comfort point.

[patientrenter]

[quote=sdrealtor]…He says from the front seat of his Yugo while listening to 8 Track tapes[/quote]

LoL!

That’s not far off, 20 years ago. I’ve upgraded a little since those days. That’s an advantage of being careful about spending.

scaredy, I feel comfortable spending 10% on a home, but only if it’s an all cash deal (without any mortgage). You have to find your own comfort point.

[patientrenter]

[quote=sdrealtor]…He says from the front seat of his Yugo while listening to 8 Track tapes[/quote]

LoL!

That’s not far off, 20 years ago. I’ve upgraded a little since those days. That’s an advantage of being careful about spending.

scaredy, I feel comfortable spending 10% on a home, but only if it’s an all cash deal (without any mortgage). You have to find your own comfort point.

[patientrenter]

scaredy,

You and I share some traits. I’ll give some examples. I have been to counseling for my spending, at my then girlfriend’s urging. I could feel myself being pushed to agree to spend more – by buying a house – and I angrily rejected the whole counseling project.

I hate spending large amounts. When I do, I research it for a long time to get the best quality item at a good deal. I have been looking at property since 1975. I have looked for the right reclining chair at the right price since before 1990. I bought my first audio equipment in the 1990’s, after postponing my first purchase in the 1970’s because a friend had told me about the research being done into CD technology that would make cassette tapes obsolete. The list goes on and on.. and on.

After many decades, how do I manage? I budget for big purchases at levels I know are very reasonable, and then I don’t mind spending the money. For example, my budget for a home is 10% of my net worth. I can live with that, even if the market value of the home plunges to zero. I budget for my car by setting aside 1% of my annual net income, and buy a new one every 10 years with the savings that build up.

This way, I cater to my need for caution, but I do actually buy things (eventually).

Best of luck. Keep us updated.

[Author]

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