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Shut off what you are listening to. |
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The truth? Your house is not an investment | MoneyUnder30 Why Your Home Is Not An Investment | by Adam Del Duca | Making of a Millionaire Your house is not an investment | David Moon A Wharton Professor Explains Why a Home Isn't an Investment Your Home is not an Investment, Sorry https://jonluskin.com/your-home-is-not-an-investment/ should i keep going? but you can do whatever you want to do, you can think whatever you want to think, there is no thought police here. but if you want to think financially correct, you might want to think a bit differently. Do i care how you think about your house? not in the least. I couldn't care less. finance guy |
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Houses: I bought my first house for about $28,000 in Alexandria, VA in 1967, sold it six months later netting $33,000. I put as little as possible down and was leveraged to the hilt but houses were appreciating at that time. I have never taken a hit on a house and I have moved a lot so have owned many. My last Newport Beach house cost me $650K in 1994 and is now worth $3.5M. I lived in it until I moved here a few years ago. Rather than sell it and get killed by $1.2 M in income taxes (CA taxes LTCGs as regular income, top rate 13.3%) I rent it out at $7,500/mo. As far as houses costing a person to own, we all have to live somewhere! Rent is usually paid out of after tax dollars and renting a nice home can be expensive if you can find one in a good area. Plus the landlord can raise the rent, sell the house or even kick you out and move back in. I would rather own. |
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Here is quote from your first link, "can only be an investment if you sell them for a profit." Uh, who doesn't sell a home for a profit? 2nd link - " aren’t appreciating enough on average to beat inflation" LMAO. Have you seen home prices the last 3 years. They have appreciated 10x over inflation 3rd link - Every investment does not need to be the "centerpiece of your retirement plan", it can simply be a part of a well diversified basket of assets. I also don't rely on "housing inflation to provide for {my} financial independence." 4th link- "If what you're spending each month on housing jumps when you move from renting to owning, that's not necessarily a wise financial move just because you're getting equity." This author must not live in The Villages. Costs to carry a modest home are approximately $12,000-$16,000. Costs to rent a modest home are $18,000-$22,000. Seems like an easy financial decision. 5th link - "An investment is something you buy with money expecting it to produce more money than it cost" So, last 3 years, my home has appreciated $145,000 and carrying costs were $41,000. Sounds like an outstanding INVESTMENT. $104,000 gain! 6th link - "Yet, when calculating the investment return on your personal residence, you very likely lost money after including the ongoing costs of homeownership." This guy definitely doesn't live in TV or skipped his math classes. "should I keep going"? Uh, yes if you want to prove your point. "but if you want to think financially correct, you might want to think a bit differently" No thanks, I'm good. |
If inflation would lessen our countries domestic policies would have to change and reflect that their domestic policies are not helping our economy and are only making it worse.
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It figures
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Figures don’t lie but Liars can figure! |
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Well I think we all know why without anybody giving any hints!
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Is Amtrak hiring???
I just saw that the threatened Amtrak strike has been resolved.
The new contract provides rail employees a 24 percent wage increase during the five-year period from 2020 through 2024, including an immediate payout on average of $11,000 upon ratification.” |
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