This one should be fun.
Next time you're having a bubble conversation with a homedebtor, ask them if they own their own house.
When they say "yes" (hint - they always do), ask them how much they pay the bank a month on that house that they "own". Then ask them how much they pay the government every month for that house they "own".
Then ask them who, pray tell, is actually the "owned" one.
November 09, 2006
A HousingPanic homework assignment: Who's owned?
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34 comments:
We know the homedebitor will always have an answer for this question- even if they are underwater in their toxic loan.
Everything is just peachy because its tax benefits make it all worth it! Didnt you know?
Everything is just peachy because its tax benefits make it all worth it! Didnt you know?
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HAHAH! I here that all the time:
'But I can claim it on my taxes"
I can roll all my credit card debts into a HELOC! ohh! the tax benifits.
then go out and charge up more..
"we will use it just this one time ok honey"....to funny!
AH...!!!
I love the smell of inscecticide in the morning as the two final Republican Senators
crawled away like cockroaches and conceded defeat in turning control of the US Senate to Democrats!
:then go out and charge up more..
"we will use it just this one time ok honey"
You know, it took me a whole year, ages 29 to 30, to discipline myself to pay my CC balance, in full, every single month w/o exception. Now, I'm in my late 30s and have never skipped a beat and have a pile of savings, PMs, and investments. I'm amazed that people find being in debt to be desirable. Personally, I see it as money out the door and the whiff of creditors on the horizons. Why would anyone want that over financial freedom?
my ex-wife finished building her new pookie princess pad in a new subdivision of pookie princess pads in what used to be a soy bean field in August 2005. she's got a really big opinion of herself and from the looks of it spared no expense in building and furnishing same last year. anybody want to give her a ring and ask her if she owns her house or if her house owns her?
Smug
You know, it took me a whole year, ages 29 to 30, to discipline myself to pay my CC balance, in full, every single month w/o exception. Now, I'm in my late 30s and have never skipped a beat and have a pile of savings, PMs, and investments. I'm amazed that people find being in debt to be desirable. Personally, I see it as money out the door and the whiff of creditors on the horizons. Why would anyone want that over financial freedom?
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Keep one card Anono I just learned that the hard way, as my credit scores were in the tank due to no revolving accounts..not that i need credit..but hey you never know..funnny huh $50,000 in debt credit score in the 750-800 no dbet low 600..there is that system thing again.
Well, do not forget that the Insurance Company also "Owns" you.
Been there, done that. Good luck if you have a catastrophic loss and need to collect.......but watch what happens if you do not have insurance payments, oh yea. That would be illegal.
"she's got a really big opinion of herself and from the looks of it spared no expense in building and furnishing same last year."
I think I got my answer to the debt question. It's a self-esteem issue; people would rather be wage slave/homedebtors over free human beings if their self-esteem is on the line. We really haven't come very far as a society, have we?
It really is not a society:
Its you, me, and them..nothing social about that.
is that Libral speak Hmm?
FMW, ironic you should mention insurance. This is part of the reason that the Florida housing market is so hosed. No matter how low house prices go in FL rates will always reflect "replacement value" which will keep rates high. No matter how high prices go in the bubble the insurance companies will only pay "replacement value" which will keep FBs from being able to torch the place to get out of debt. The insurance racket is definitely a scam.
"as my credit scores were in the tank due to no revolving accounts..not that i need credit..but hey you never know"
Hi, it's the 8:40:24 PM anon, and I use three CCs, as regular charge cards (for dividends/air miles) instead of carrying cash or checks, but pay off the balance in full every single month and Trans Union/Experian reports do indicate a revolving balance (though really short term) because the FICO is a snapshot type of mechanism so I'm in the high 700s (approaching 800). The key is to maintain real-time CC usage just don't carry the balance over or you'll accrue the finance charges from being in debt with the bank issuer.
You forgot Condo or Homeowners Association Fees!
"Its you, me, and them..nothing social about that. is that Libral speak Hmm?"
I don't know but I learned it in the boys scouts that a good society is one where people are frugal and conscientious of their communities (i.e. reduce crime/pick up litter/eliminate pot holes). So if being a good Scouts is a liberal then I'm guilty.
I hear that one about the deductibility of interest all the time from people. As though that settles it, end of story, interest is tax deductible so everyone should own a home no matter what the price is and no matter that you could rent an equivalent home for less than half.
And suggesting that they do a comparative calculation of renting v. buying makes them angry because it confuses them. Even if you make the suggestion as nicely as you can and try to make it as simple as possible they just get this cognitive dissonance and their only way to react is with anger.
So scared. So ignorant.
that is the most overused excuse "the interest is tax deductible" what horse hockey
the interest paid reduces your taxable income and in normal times, it's a good deal - it can also be taken away and/or rolled back
i can remember when interest paid on autos and credit cards worked the same way (showing my age) but it went *poof* when the government ran short on cash and had trouble borrowing for the shortfall in the budget **snif, snif, can you smell what the rock is cooking?**
OWNED.
I rent, yes, and I'm not in debt....
But there ARE reasons to own,
sometimes, if you don't overpay.
You anti-homeowners are just as much
sheep as the most debt-ridden
flipper out there...
33
anonymous said...
I rent, yes, and I'm not in debt....
But there ARE reasons to own,
sometimes, if you don't overpay.
You anti-homeowners are just as much
sheep as the most debt-ridden
flipper out there...
Very TRUE. Every person is in a different city, state, financial situation. I hardly think if you have two kids and you rent a one bedroom that is practical (or legal in some states). Not every state has places to rent that are significantly LESS than owning even if you don't throw in any tax savings for the homeowners. Even in Phoenix before 2005 I couldn't rent my house for less than I paid pretax in a mortgage. Here in Austin the same. So don't lump everyone into Boston, California, NY's shoes.
And again, everyone out there that does own a house isn't paying $3,000 a month or more after tax. I'd imagine a lot pay up to $2400 a month for large homes or in higher cost regions but for most that is more than affordable but I think the average person outside bubble areas doesn't pay more than $1200 a month for a descent house or apartment.
HP folk are as blinded as those who lump all Muslims into the same category. If you are an idiot who goes out and buys something you can't afford I don't feel sorry for you.
Thursday, November 09, 2006 10:51:51 PM
Here in Orange County, mortgage capitol of the world; I drove by a house on fire. Most likely a home debtor not a home owner.
When I got home I thought I would go on youtube to watch Burning Down The House video.
Check out this remix with Godzilla burning down Tokyo and Melbourne.
http://tinyurl.com/yh63ba
Enjoy!
After the 2000 stock market crash and the 9/11 desaster, most people invested their savings into real estate.
Instead of playing the stock market, investors started to flip homes. The only difference is: to play the stock market is optional but people have to live somewhere and if you have to pay more then 2000 a month to rent or go into over 800k debt just to live somewhere, we are talking about a desaster.
What pisses me off even more is that home owners and their greedy attitude forcing their renters to pay their inflated mortgage.
I am really waiting for the bubble to burst! Most home owners are house-poor and have to py their coffee at Starbucks with credit card and still have their attitude going! How sad is that! I had a home owner seriously telling into my face that I'm stupid not to buy and as a renter a person second class...
It is not that I would not like to buy, but I don't like to go through foreclosure or bancruptcy. Financial freedom and no debt means a lot to me.
cheers! mimi
Interesting that there were no charges of massive vote fraud. I guess the liberals only think elections are fair when they win.
Flyingmonkeywarrior: Why do you think terrorists are freedom fighters? That's the premise of the pro-terrorist movie, V.
My sock puppet is crusty.
Yeah I am a homdebtor. To the tune of 200k. Big fuckin deal. I know people that own more in student loans than that. You see, I was one of the smart financial geniuses that made a move in 2003 and bought in right before it all went nuts. My home was appreciated at 550k recently. Even if we dropped 50% i would still be in the green here in the OC. Yey for me!
My god, Keith,
Where do you FIND these pictures?
Hilarious.
Also,
Ask the owner if he is free to sell his house when he wishes. Ask if anyone can ask them to move because they will let someone else live in the house. Ask if he needs permission to repaint the walls or has to ask someone if he can replace the worn out carpet.
Flyingmonkeywarrior: Why do you think terrorists are freedom fighters? That's the premise of the pro-terrorist movie, V.
+++++++++++
Wha. Are you serious? It's a comic book and I like the Pics.
No, really, the premise is anti Orwellian, IMO…..
I think it is time for you to get what you need: a wiki linkie……………
http://en.wikipedia.org/wiki/Orwellian
The most common sense is that of the all-controlling "Big Brother" state, and is often used to describe negatively a situation in which a Big Brother-like authority figure — in concert with "thought police" — can constantly monitor the population, in order to detect betrayal or improper thoughts. Orwellian is also used to describe oppressive political ideas, and the use of euphemistic language in political discourse to camouflage morally outrageous ideas and actions.
Okay, now you have a clue. Your welcome.
V is pro terror??
U are an a$$ whole.
Anonymous said...
Flyingmonkeywarrior: Why do you think terrorists are freedom fighters? That's the premise of the pro-terrorist movie, V.
+++++++++
What is your twisted agenda?
Get a Handle anonopussy.
okay, let's keep things light for the sheeple on HP. Nothing eye opening here. move on.
Who''s owned? We all are owned by someone or something.
Fundamentalists are owned by GOD.
Politicians are owned by Special Interests.
American's are owned by consumption.
Everyone is owned by Capitalism. No one is free. No one can survive outside the system. We are all slaves to money, fiat or not. We are dependant on money for food, water, transportation, shelter, sex, you name it. People traded self-sufficiency for the factory and a dollar. Instead of growing corn and canning it you go work in a factory and then buy the can of corn.
Even if you pay cash for your house, you don't own it. You have utilities, taxes, upkeep. The house still owns you!
You job owns you. For family owns you. Everyone has a master including those who think they are the masters.
"Orwellian" is also used to describe oppressive political ideas, and the use of euphemistic language in political discourse to camouflage morally outrageous ideas and actions.
+++++++++++++
The perfect term to describe the Bush Administration....
The perfect term to describe the Bush Administration....
Thank you. I think so too.
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