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Author Topic: Homeownership  (Read 50458 times)
ymrader
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« on: August 07, 2013, 05:55:41 am »

Is the opiat of the proleteriat.

Homeownership stifles civil protest, a man in debt does not strike !

discuss
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Alte Dame, Alte Dame
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Die Farben Blau-Weiß,
die Trikots gestreift,
im Herzen weht nur eins:
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Kolamba
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« Reply #1 on: August 07, 2013, 06:11:41 am »

Is the opiat of the proleteriat.

Homeownership stifles civil protest, a man in debt does not strike !

discuss

But what if you own your house entire with no debt ?
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ymrader
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« Reply #2 on: August 07, 2013, 07:40:01 am »

But what if you own your house entire with no debt ?

Doesn't count in the marxist philoshophers article I was reading  Cheesy
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Alte Dame, Alte Dame
Hertha BSC, so schön ist dein Name!
Die Farben Blau-Weiß,
die Trikots gestreift,
im Herzen weht nur eins:
Unsere Fahne!
Kolamba
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« Reply #3 on: August 07, 2013, 08:35:40 am »

Doesn't count in the marxist philoshophers article I was reading  Cheesy

But if you rent you still owe money . . . and wouldn't it be better to strike when you have something other people want (i.e. your cash). I know what the prof is getting at mind you.
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Ellen Wheels
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« Reply #4 on: August 07, 2013, 11:42:29 am »

I'll never own my home because the yearly property tax is huge, mostly to pay for schools. It's rent to the government. They'd foreclose on me if I didn't pay rent to them. I wish that property taxes only applied to property that's for investments and not for where you live.

Same here in the great State of Pennsylvania.  My daughter just got her first real "big girl job."  Let's just say it's the one she went to college for and has dreamed of since she was about 5 years old.  Anywho, first thing on her list is saving up for a house.  I don't have the heart to tell her how much of a chunk property tax will add to a mortgage.  BUT, I guess landlords have that property tax figured into their rent charges also, no?
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everso
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MR. PHILLIPS


« Reply #5 on: August 07, 2013, 12:59:13 pm »

I'm for home ownership.  I like the feeling of owning my own home.  However, we bought our home when prices weren't so high in comparison to earnings.  I'd hate to be starting out nowadays.

Having said that, mortgage interest rates are pretty low at the moment compared to the 15% we paid during the early 1990s.  Tongue
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Ellen Wheels
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« Reply #6 on: August 07, 2013, 01:03:35 pm »

I'm for home ownership.  I like the feeling of owning my own home.  However, we bought our home when prices weren't so high in comparison to earnings.  I'd hate to be starting out nowadays.

Having said that, mortgage interest rates are pretty low at the moment compared to the 15% we paid during the early 1990s.  Tongue

Everso. I know!  Our original mortgage on our present home was 8.3/4% and we thought it was a bargain.  Well, it was compared to the 21% people were paying under the Carter administration.
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CC
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« Reply #7 on: August 07, 2013, 02:20:51 pm »

Home prices are going up again but houses around here and elsewhere dropped in value but never returned to a before-the-bubble pirce. I think there still was tiny bubbles (in the wine) still lurking and, with the low interest rates, people are thinking house buying is a good investment now. I disagree. If those buyers are using ARMs then they'd better be able to move fast if the interest rates shoot up.
Right now is a good time to sell, maybe.
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Ellen Wheels
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« Reply #8 on: August 07, 2013, 02:24:10 pm »

Home prices are going up again but houses around here and elsewhere dropped in value but never returned to a before-the-bubble pirce. I think there still was tiny bubbles (in the wine) still lurking and, with the low interest rates, people are thinking house buying is a good investment now. I disagree. If those buyers are using ARMs then they'd better be able to move fast if the interest rates shoot up.
Right now is a good time to sell, maybe.

Here the Marcellus Shale gas wells are booming.  We have so many immigrants from Texas and Oklahoma and we don't know what to do with them.  They have forced rental property prices through the roof so house prices are a deal in comparison to rentals.  Pittsburgh never, ever, experienced the huge highs and lows in property values like the rest of the country so we're doing pretty well here.
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Ellen Wheels
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« Reply #9 on: August 07, 2013, 02:24:58 pm »

BTW, I'd never do an ARM.  I'm just too conservative and anxious for that.   Cheesy
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The angels wanna wear my red shoes..........Wink
CC
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« Reply #10 on: August 07, 2013, 02:28:21 pm »

Here the Marcellus Shale gas wells are booming.  We have so many immigrants from Texas and Oklahoma and we don't know what to do with them.  They have forced rental property prices through the roof so house prices are a deal in comparison to rentals.  Pittsburgh never, ever, experienced the huge highs and lows in property values like the rest of the country so we're doing pretty well here.

I thought the boom was just in North Dakota, which is ironic since nobody ever wants to go there except now. That's great that you have a boom. Bad time to buy maybe. Like those gold rush days, when after the rush, places became ghost towns. OTOH, maybe if towns plan out how to stay viable in twenty years...
I don't remember which culture it was but some culture said they plan things out for the third generation. That's a good way to look at planning.
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Ellen Wheels
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« Reply #11 on: August 07, 2013, 02:30:49 pm »

I thought the boom was just in North Dakota, which is ironic since nobody ever wants to go there except now. That's great that you have a boom. Bad time to buy maybe. Like those gold rush days, when after the rush, places became ghost towns. OTOH, maybe if towns plan out how to stay viable in twenty years...
I don't remember which culture it was but some culture said they plan things out for the third generation. That's a good way to look at planning.

Western Pa supposedly has the biggest Marcellus Shale gas reserves in the world.  Then there's the Donovian (Devonian?)  deposits below that.  CC, we outlived steel and we'll outlive this.   Cheesy
« Last Edit: August 07, 2013, 02:34:56 pm by Ellen Wheels » Logged

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ymrader
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« Reply #12 on: August 08, 2013, 01:26:21 am »

I'm for home ownership.  I like the feeling of owning my own home.  However, we bought our home when prices weren't so high in comparison to earnings.  I'd hate to be starting out nowadays.

Having said that, mortgage interest rates are pretty low at the moment compared to the 15% we paid during the early 1990s.  Tongue

Aye, the wife met some baby boomer who bought a house in Fulham for £6k helped by the university grant they didn't need. House is worth £3m

£6k won't even get you close to a deposit and if you are a graduate you'll be £40k in debt before you even think of a home.

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Alte Dame, Alte Dame
Hertha BSC, so schön ist dein Name!
Die Farben Blau-Weiß,
die Trikots gestreift,
im Herzen weht nur eins:
Unsere Fahne!
Myky D
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« Reply #13 on: August 12, 2013, 11:17:54 am »

Hegemony isn't necessarily a bad thing. Being comfortable isn't a bad thing.

I agree with fighting what one perceives to be unjust, but fighting The System just because one wants to rage against The Machine is very first world teenage angst.
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