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The Economy

Discussion in 'Sports and News' started by TigerVols, May 14, 2020.

  1. TigerVols

    TigerVols Well-Known Member

    At least it will get to play with its Lexus sister once it crosses the rainbow bridge.
     
  2. BTExpress

    BTExpress Well-Known Member

    It can show off its new battery, new fuel pump and new starter.
     
  3. Batman

    Batman Well-Known Member

    One of the reasons we're waiting until February or March is so the mortgage company can take care of those (especially the taxes) one more time. We got the money in November, so we figured it wouldn't hurt anything to wait until after New Year's to pay it off.
     
  4. swingline

    swingline Well-Known Member

    I’ll never own a home. Before the marriage went belly up, I thought we were saving for one. Now, they’ll wheel my ass out of whatever rental I’m in after the smell bothers the neighbors enough to have it investigated.

    I’m not jealous of y’all. I just wish it had worked out differently.
     
    dixiehack likes this.
  5. BTExpress

    BTExpress Well-Known Member

    They've probably already paid the taxes. They usually do by the end of November. They're also sitting on at least a two-month cushion of escrow that you'll get back. Of course, if they're taking into account your low taxes in deciding how much escrow to hold, it may not amount to much of anything.
     
  6. 2muchcoffeeman

    2muchcoffeeman Well-Known Member

    *Acura
     
    TigerVols likes this.
  7. Michael_ Gee

    Michael_ Gee Well-Known Member

    Don't sweat it. My daughter lives in France and in that country, renting is the majority option. She has a lovely apartment in a great neighborhood, and although she makes pretty good money, would never be able to buy it. Out in the country, there are plenty of mouldering brokedown castles you can buy -- for the price of a townhouse in Greenwich Village. So she rents, and probably always will.
     
  8. BTExpress

    BTExpress Well-Known Member

    He's referring to my other 300,000-mile ex-car, not so much the precise family of makes/models. :)

    It's that idea of being in your 60s, retired, and still having that rent payment due . . . :eek:

    My peace of mind couldn't take it. I'm not one of those, "eh, I'll figure it out" people.
     
  9. Michael_ Gee

    Michael_ Gee Well-Known Member

    It's just how people in France live. Since it's normal, they don't have that anxiety. It helps that their social support system is robust, especially tenant protection. You have to kill a landlord's pets, or maybe his relatives, to get evicted.
     
    Dog8Cats likes this.
  10. The Big Ragu

    The Big Ragu Moderator Staff Member

    Not sure where your daughter lives. ... But I am fairly certain that French home ownership rates (nationwide) aren't that different from the U.S. What am I missing?

    Take a look at Switzerland. The majority of people rent homes there -- like it is way different than than in the U.S. As an aside, their economy is (not so) arguably way more robust than ours is. On a per capita GDP basis, they produce way more than the U.S. does. The difference is that in the early to mid 1900s, politicians started to sell this nonsense to people here that home ownership is a virtue of some sort, and we have spent the last century doing a variety of stupid things fiscally and with currency manipulation (such as a central bank taking over the mortgage-backed securities market to try to manipulate interest rates) to try to subsidize home ownership -- which has had wide ranging economic negative effects that have hurt way more people in other ways and has created overall financial instability.

    There is no inherent virtue in owning a home. It's a place to live. If you can afford one, it means you have had enough financial success to be able to afford a significant asset (made way more significant than it otherwise would be because the rate manipulation has driven prices through the roof -- pun intended), but if you can't and you are making rent payments, it's not like it is some failing or anything. You still have a roof over your head.
     
  11. dixiehack

    dixiehack Well-Known Member

    You see, if you shoot pool with some employee, you can come and borrow money. What does that get us? A discontented, lazy rabble instead of a thrifty working class. And all because a few starry-eyed dreamers like Peter Bailey stir them up and fill their heads with a lot of impossible ideas.
     
    I Should Coco likes this.
  12. BTExpress

    BTExpress Well-Known Member

    As recently as 12 years ago, I bought a nice house on a third of an acre with a fenced yard in Charlotte for $143,000.

    For a few years after the 2008 crash, things seemed almost normal on the home buying front.
     
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