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March 25, 2014 at 6:09 PM in reply to: Study shows mortgage interest deduction doesn’t encourage home ownership #772244
scaredyclassic
Participant[quote=paramount]My fist isn’t always shaking.
I’m a busy person, I have better things to do with my time.
Interestingly enough though, my car was vandalized last night – along with a bunch of other cars.
In other news over the weekend apparently the vagas, hells angels and mongols MC Gangs had a showdown in Temecula.
Stabbing’s, etc…
Maybe it is time to move (again).[/quote]
I think the showdown was on the freeway. No worries. Could a been anywhere.
ParticipantDefinitely sex workers.
See if you can find them on. http://Www.cityvibe.com
ParticipantPeople are nuts!!!!
ParticipantGot a quote recently at 15 percent deductible quite a bit less than 2k a year. Not sure what to make of it.
Kind of thinking I’ll have about 15 percent deductibles worth of damage.
March 23, 2014 at 9:48 PM in reply to: Study shows mortgage interest deduction doesn’t encourage home ownership #772169ParticipantPhase it out slowly until I don’t need it anymore. That seems fairest, to me.
ParticipantLife is for the living.
ParticipantThat is way too rational, future based and debt averse. There’s risk to running with the herd off a cliffbut straying too far from the herd is dangerous too
Participant[quote=urbanrealtor][quote=CA renter][quote=scaredyclassic]
I resisted this concept. I now embrace it grudingly. Price is meaningless. What you pay each month is all that matters.[/quote]
But price, along with interest rates, is what determines what you will pay each month.[/quote]
Its not that its totally unrelated but that its a secondary (or tertiary) consideration in determining effective demand.
I frankly could give a shit about the overall price of the place I buy.
I know what people focus on but it makes no sense.Lets take an example:
The price is 2 mil on a 3br/2BA place in NP (say Morley field near the park).
The loan is a 15 year IO at 1% (call it crazy seller financing)and you qualify for it.
The house is clearly overpriced but you would be fool not to buy it on those terms.
At that price you could get rich just renting it out.
The overall price here would be immaterial.[/quote]
I’m overstating things. I did used to think the price had some independent reality, like it was a number that really meant something in and of itself in a way unrelated to other numbers..
i was wrong..
20% of that number (the purchase price) meant something, actually, as that was the amount of cash i had to write a check for, to put 20% down.
but the total purchase price it is just a strange symbol , some theoretical sum conjured from the dark shadowy mists, like a flute song in dark eastern european woods..
The monthly payment is reality , something penciled out by pale men wearing green visors in brightly flourescent lit rooms; grim, sober reality….a number you see repeatedly in your bank account on the withdrawal side, a number you get used to. . reality. life.
i love my monthly payment. the more i think about it, get used to it, it’s a number that soothes me, a number that makes me feel like everythings going to be all right.
I still haven’tquite wrapped my head around the actual purchase price. it’s a number i have no feel or feelings for, it is distant, remote, uncommunicative, imposing.
the monthly payment is part of my daily life, a buddy, something I can easily get a grip on. the monthly payment is a number i pay, i like to pay, i actually enjoy paying it. when i pay the mortgage, i don’t think, goddamnit, now i gotta pay the mortgage? ! i think what a reasonable rpice, how happy i am to lvie here and pay this amount on these terms…. i am filled with happiness to pay it.
the purchase price is no more than a placemarker, a holder, a number that might possibly come into play in the future, if im still alive, not just a skeleton in the family library, in order to settle up.
who cares at that point? im dead. the purchase price is never going to matter to me probably, because i am never going to sell this house.
true the monthly payment is in some way related to the purchase price, but who cares. it might as well be related to the stars, or the tea leaves. don’t tell me about what it’s related to, for i do not care. all i should have cared about is what does it cost per month and what must i put down.
Participant[quote=urbanrealtor][quote=Jazzman]The one element that is consistently absent in these articles is price declines. It is completely incompatible with the current delusional mindset that home prices must always go up, or be forced up. I know there is plenty of evidence that suggests interest rates and home prices do not necessarily move in opposite directions, but it does no harm to give it a mention. If rates do go up, then homes become more affordable if prices go down. What is the problem with that? Many homes are over-priced anyway? If more inventory becomes available, whether from owners no longer being under water or foreclosures being pushed through more quickly, that could also put further pressure on prices. Now that WOULD be news worth celebrating! Perhaps then homes will be affordable in the normal sense of the word. We should be welcoming that, hoping for that, and trying to engineer that, not fearing it.[/quote]
While I do not disagree, I think your point misses a much bigger point in housing.
Specifically, housing in the US is a finance market more than a property market.
The effective demand is best understood in terms of payments rather than in prices.
That is why dropping prices in 92105 by 55% was not enough to get things selling in 2009.
Even at the dramatically lower prices, the lack of loans made those places not affordable.[/quote]I resisted this concept. I now embrace it grudingly. Price is meaningless. What you pay each month is all that matters.
Participanti now feel extremely happy that i am not involved with an HOA.
ParticipantCEF easiest.
ParticipantJust use a bank safe deposit box. Easier.
Participant[quote=SK in CV][quote=scaredyclassic]perhaps an early failure is good.[/quote]
I think it’s an essential part of growing up. I remember when my kids were little, there were a lot of parents that wouldn’t let their kids do anything they weren’t good at, or where success wasn’t guaranteed.
I took the opposite view. Learning how to deal with failure is essential. And my kids handled it very differently. It made my son fearless. He isn’t afraid to try anything. (He’s headed to Gaza this summer. Which is kinda worrisome. He looks like a punk orthodox rabbi.)
And with my daughter, it just increased her always present drive for perfection. She’s always hated to fail, for her, a 99 on a test was a failure. But when she gets 100, she finds a harder test. She’s been a bit of a workout freak for awhile, but for some reason couldn’t do pull-ups. She texted me this morning with a picture of her blistered hand. After doing 60 pull-ups.[/quote]
lot of girls have trouble with pullups. A lot of guys do too. If she’s pumping them out now she is very intense indeed.
Why gaza? Adventure?
ParticipantUn schooling with monty python. Dangerous.
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