President Trump: The NEW one and only politics thread

It’s a killer for the home builders, realators and anyone who owns a home with equity. Rich? It’s a tax on middle class. Married, 2 income, wage earners who own a home will feel it. It’s a tax on the solid American dream.

 

If you can afford to pay $500,00 for a house and pay $10,000 a year in property taxes, you get no sympathy from me.

 

You're gonna need to show your work on this one.

 

Is 500 grand considered wealthy these days?

 

I don't care what you call it, you should be paying more taxes.

 

The mortgage interest deduction is a bit overplayed as an issue. The paper out here (Bay Area) doped out what it would mean based on median home prices (around $1 million) and 20 percent down. I think the total difference is like $1,900 a year — so if you’re qualifying for that mortgage, you’re making over $200K and the tax hit is less than 1 percent of your income. I figure a lot of the difference will be baked into the sale price too.

 

Where do you live in California? Hemet? Barstow?

 

Home prices will decrease in the suburbs from Boston to Miami, Seattle to SanDiego. Everywhere the price of a single family Home is near 500k. It will depress the housing market.

Housing prices go down, your equity goes down. Home builders lose, home improvement business loses. Local governments lose their tax base of property taxes. This is a recipe for depression

 

LOL

 

At what point are young people supposed to enter the housing market? Very very tough to do when starter homes are $500k.

Its been bubbly since the last recession.

 

OK, perhaps my memory of decade-ago threads was fuzzy concerning precisely what you were telling us to buy. But the fact remains that you were instructing us to buy into oil at the absolute worst possible time to do so. For example:

"I have never done this on here, but I'll flat out make the recommendation (but won't take responsibility for whatever happens to anyone's money). I won't recommend people on here try playing with commodities if it is something they don't understand, but if you have ANY money to invest, buy just a little of the U.S. Oil Fund. It's an exchange-traded fund that mirrors the price of West Texas crude and trades under the stock symbol USO. It trades like a stock, so you can buy it through your discount brokerage account, if you have one."

It's the speculators!!! (yup, oil again)