Originally Posted by
InkedIan
Then please tell me specifics about my car....
If you read what I wrote and actually thought using your brain then maybe you would understand..... Let me dumb it down.
If you buy a house and commit to a 30 year loan and then move in the near future (for whatever reason) taking around a 25% lose (which seems to be normal in my area with the decline in the housing market) when/if you sell the house you will still owe the bank that 25% plus you will have to pay for a new place to live. I'm not staying in this area so how would that be smart? Plus as long as property tax is still around you will never own property. You will always pay rent to the government on the things you "own" until things change. Your argument is just straight dumb...
The market here in 757, is about as low as it is going to get. The ONLY way it will get to this magic 25% lower you speak of is if we A) get into a long nuclear war and the draft is re-instituted B) NOB and Oceana close C) we turn full Socialist. Or if Rich decides he is going to buy Virginia Beach and monopolize this motherfucker.
And FYI, PPT is a good thing, it shows you are actually worth something (or are in the process of being worth something). Liquid assets are nice, however there is more into a persons value than the amount of cash they hold. Yes, it sucks you have to pay it...but that is one of the things you must pay for the freedoms you have.
Like the freedom to be a moron.
Let me give you another real quick math lesson:
PPT on a home (annually) of $250,000 = $2,500 (based on $1.00 PPT per $100 home value)
So, I pay $2500 per year in personal property taxes.
You spend $18000 a year in rent, and OWN nothing.
You pay less in a year on PPT, than you pay in income tax. Why don't you throw a fit over that? Is the government robbing you?
30-year mortgages are a thing of the past. MOST people nowadays should be doing 15-year mortgages (that means they have a VERY solid income per the expense of their mortgage). If anything, start 30-year FHA, then refinance when you get some equity in your house to a 15-year.
Listen, I crunch numbers for a living. This argument you are trying to win, just makes me laugh.