[golfing eagles]

Originally Posted by Bill14564

I don't see it as any kind of Robing Hood mentality, that they "owe" us, or even that the Developer is still involved in the day-to-day running of the Villages. With most of us happy to be rid of debt, even going so far as to reach into retirement funds to pay cash for the next home, it is difficult to understand why a rich business would borrow money. .....

I believe the answer is covered in Business 101.

[BrianL99]

If anyone really believes the Developer is not involved in the day to day operation of The Villages, I have a lovely, older bridge I'm interested in selling.

[Bill14564]

Originally Posted by defrey12

True. But buying a home is ALWAYS a choice. Don't want the bond cost? Live elsewhere. Pretty simple.

Discussed in other threads but I don't recall a clear answer....

If I buy a home in a new development that does not have a CDD or bond, who paid for the infrastructure? Did the developer reach into his own wallet to pay? Did the town say, "why yes Mr. Developer, we will put millions of dollars of roads, sidewalks, and drainage systems in place so you can sell homes"? Or, was the cost of infrastructure added to the selling price of each home?

Should we feel like we're getting away with something because we only pay insurance for the $400K home and not the additional $45K of bond? Or, are we being played as we pay the same $400K that we would pay in the other development but with $45K of that being pure profit for the Developer since he has already recovered the infrastructure costs through the bond?

[golfing eagles]

Originally Posted by Bill14564

Discussed in other threads but I don't recall a clear answer....

If I buy a home in a new development that does not have a CDD or bond, who paid for the infrastructure? Did the developer reach into his own wallet to pay? Did the town say, "why yes Mr. Developer, we will put millions of dollars of roads, sidewalks, and drainage systems in place so you can sell homes"? Or, was the cost of infrastructure added to the selling price of each home?

Should we feel like we're getting away with something because we only pay insurance for the $400K home and not the additional $45K of bond? Or, are we being played as we pay the same $400K that we would pay in the other development but with $45K of that being pure profit for the Developer since he has already recovered the infrastructure costs through the bond?

Wow, just wow. Please explain how "recovering" the costs of infrastructure by floating a bond issue (thus making one whole and even) is a "PROFIT"??????

PS: The cost of that home in non-CDD developments would be $445,000, NOT $400,000, unless one thinks the developers would provide that gratis

[rsmurano]

All corporations borrow, this is not new. I borrow sometimes when I can pay cash, not a big deal. Company’s worth trillions borrow.
Also, I heard the Villages has enough land to build on for the next 20 years and I’m sure they keep buying more land every year.
When Apple or Nvidia borrow, would you call them doomed?

[Bill14564]

Originally Posted by BrianL99

If anyone really believes the Developer is not involved in the day to day operation of The Villages, I have a lovely, older bridge I'm interested in selling.

Where is this bridge?

I doubt the Developer spends cycles each year to put together the Water Volleyball schedule for the Sports Pools. I doubt the Developer has weighed in on how CDDx is going to pay for the increase in charges for street lights from SECO. The Developer isn't likely to have provided much comment on how many "throwers" ride with each trash truck.

Yes, it is very well known that the Developer's companies own the commercial properties. Yes, it is understood that the supervisors of the commercial districts are chosen by the Developer and that these districts run the amenity divisions. Much of the administration of the Villages can be traced back to the Developer and the Developer could exert pressure to have things done a certain way. I just don't believe "he" spends many cycles concerning himself with the day to day operations of the established sections.

[La lamy]

Originally Posted by CoachKandSportsguy

not sure the maf is maffing

Current stats:
170,000 retirees
83,400 existing homes
2.0+ retirees per home. .

Goal:
260,000 retirees
130,000 additional homes
213,400 total homes
1.2 retirees per home. . .

The added portion maf work out
Adding 260,000 retires
adding 130,000 total homes
is about 2.0 retirees per home. .

The seeking to grow the population to over 260,000 doesn't make sense.
The seeking to grow the current population by 260,000 does make sense.

not surprising given

from college professor on Twitter, link following copy of tweet
I made an unsettling discovery in my undergraduate class on financial planning last week. While explaining mortgages, I asked my 38 students this question: if you buy a $400,000 house and pay 20% in cash towards the purchase, what will be the amount that you finance?

Not a single student could tell me the answer. Despite the fact that they are all juniors and seniors majoring in business.

I added more questions: what is 30 percent of 80? 60 percent of 90? They didn’t know. The closest they got was when one student said, in response to my query of “40% of 70”, that “I know it’s 4 times 7 but I don’t remember what that is.” Another student helpfully added, “28.”

They explained to me why they couldn’t answer these math questions: they were never taught multiplication tables, percentages or fractions during their K-12 schooling. Instead, they were taught how to use a calculator. Without one, they are not able to do basic arithmetic.

I later asked the dean about this, and he lamented that this isn’t a thing just for our university’s students; it’s a thing for their entire generation, nationwide.

When I was in K-12, the fierce debate among parents and educators was whether to allow calculators in class. The calculators won.

Today, the debate is about AI. And like before, the tech will win. But will that truly be a victory?

Rowan University #college #math #loans #CFP #financialplanning



Ric Edelman on X: "I made an unsettling discovery in my undergraduate class on financial planning last week. While explaining mortgages, I asked my 38 students this question: if you buy a $400,000 house and pay 20% in cash towards the purchase, what will be the amount that you finance?

Not a singl… / X

I know this quote is off topic, but I'm SO FREAKIN SAD to hear the new generations can't do basic math. I've certainly noticed it when I've tried to give enough change at the cash register to get a dollar back instead of change. The young person looks at the change I hand them and they have the look of a deer in the headlight.

I wonder if all this tech help will shrink the brain's capacity. Maybe humans will start to have much smaller heads in the future!

[dewilson58]

Originally Posted by La lamy

I know this quote is off topic, but I'm SO FREAKIN SAD to hear the new generations can't do basic math.

Generalization = Prejudice.

That's what's sad.

[golfing eagles]

Originally Posted by Bill14564

Where is this bridge?

I doubt the Developer spends cycles each year to put together the Water Volleyball schedule for the Sports Pools. I doubt the Developer has weighed in on how CDDx is going to pay for the increase in charges for street lights from SECO. The Developer isn't likely to have provided much comment on how many "throwers" ride with each trash truck.

Yes, it is very well known that the Developer's companies own the commercial properties. Yes, it is understood that the supervisors of the commercial districts are chosen by the Developer and that these districts run the amenity divisions. Much of the administration of the Villages can be traced back to the Developer and the Developer could exert pressure to have things done a certain way. I just don't believe "he" spends many cycles concerning himself with the day to day operations of the established sections.

Another nonsensical analogy. Does the CEO of IBM install core processors on the motherboards? Does Elon Musk lubricate Tesla engines? Why then would the Morse family make water volleyball schedules??? By the definition posted above, Elon Musk is not involved in Tesla or Space-x

[Bill14564]

Originally Posted by golfing eagles

Wow, just wow. Please explain how "recovering" the costs of infrastructure by floating a bond issue (thus making one whole and even) is a "PROFIT"??????

PS: The cost of that home in non-CDD developments would be $445,000, NOT $400,000, unless one thinks the developers would provide that gratis

Try to understand the entire post. If equivalent homes sell for the same price but the price for one home includes the infrastructure cost while for the other home the infrastructure cost was recovered through the bond then there is substantially more profit built into the bond home.

*WOULD* that home in a non-CDD development be $445K? Are new homes in the Villages selling for $50K less than equivalent homes in non-CDD developments?

Maybe the answer is yes, they are but I am not making that assumption which is why I asked the question the way I did.

[SaucyJim]

Originally Posted by KCornman

World’s Largest Retirement Community Set to Borrow $180 Million

(Bloomberg) -- The Villages, a 57,000-acre Florida retirement community, is looking to issue almost $180 million in high-yield debt to finance more homes.

Much more about it at link

Looks like its time to pick up some of that high-yield debt, right?

[jpvillager]

The problem with not knowing the math is that they have no idea if the answer from the calculator or computer is even reasonable. Or, in the checkout line if the total makes sense.
Sorry, just an engineer ranting.

[Aces4]

Originally Posted by dewilson58

Generalization = Prejudice.

That's what's sad.

Generalization = people who think they don't need math skills equals ignorance. That's downright depressing. I would prefer the bond price be included in the home's price tag. I believe there is some nice income for the developers with the current system but that's just my opinion.

[OrangeBlossomBaby]

Originally Posted by Bill14564

Discussed in other threads but I don't recall a clear answer....

If I buy a home in a new development that does not have a CDD or bond, who paid for the infrastructure? Did the developer reach into his own wallet to pay? Did the town say, "why yes Mr. Developer, we will put millions of dollars of roads, sidewalks, and drainage systems in place so you can sell homes"? Or, was the cost of infrastructure added to the selling price of each home?

Should we feel like we're getting away with something because we only pay insurance for the $400K home and not the additional $45K of bond? Or, are we being played as we pay the same $400K that we would pay in the other development but with $45K of that being pure profit for the Developer since he has already recovered the infrastructure costs through the bond?

Bonds - in the context of The Villages - are for infrastructure for permanently-placed homes. As such - the Historic Section, built to be a resort trailer park, never had bonds in the first place.

In addition, most homes that DID have bonds on the other side of 441, north of 466, no longer have bonds, which were paid off years ago.

Now that the infrastructure is already built, even if you tore down an old house and built a new one in its place, there would be no bond obligation.

[Birdrm]

Not really sure what this post is about? TV secures funding often as this is to continue building in new areas and then the bonds on each new home are used to pay off the borrowed funding. This is the process that is used over and over to continue building.