VIDEO ON MSN MONEY
Do not buy into the purchase of a home. Equity my A*% Here is why.
My taxes on a 250K house is 5k Government mandatory flood insurance 2k (100 year flood zone) 3% of purchase price of home needed for improvement \ fixing per year 7k ( industry standard) Home owners insurance 1k Do not for get the 50K down payment that no longer earns interest 3k loss.
18K a year just for me to break even on my investment. Luxury rent in my area 1500 per month Hell,The way the economy has been over the last 3 or 4 years I could not find anybody to buy my house if i wanted to. Sucker bet.
This is all you need to read to know the article is complete bunk. You have a better chance making 42% spinning the wheel than buying a house in that sandbox.
Oh yeah I'm no kid either. 53 and working hard.
Is it me or do a lot of you out there also get the feeling that these articles are talking to people who have about 200k in liquid to play around with? I'm better off than most in this country right now, but I sure couldn't just waltz into some town and buy a house for 'investment purposes'. I actually have a lot of good equity, but buying a house for me would still depend on selling where I currently live first. And come'on... who really wants to go raise a family someplace like Cleveland or Detroit - a couple of cities that were suffering badly even BEFORE all this mess came about.
IF PEOPLE WERE SMART ENOUGH TO BE MORE TOGETHER, THEY COULD LIVE BETTER THAN THIS AND THEY COULD BRING DOWN TO THE GROUND GOD DAMN BLOOD SUCKER BILLIONARS TO DON'T LET THEM GET ADVANTAGE OF THEM...
I WOULD SAY PEOPLE SOULDNT BUY A HOUSE WITH A <<< BANK OWNED >>> SIGNE ON IT... COZ THIS WAY WE WILL TEACH THE BILLIONER BANKERS THAT IF YOU TAKE AWAY THE HOUSE FROM A NOT WELTHY FAMILLY, THEY CAN NEVER SELL THE HOUSE AGAIN TO GET THEIR MONEY FROM SOMEBODY ELSE... SO IT COULD BE BETTER FOR THE BANK TO LEAVE THE HOUSE WITH THAT FAMILY, GIVE THEM MORE TIME OR REFAINANCE IT TO BETTER RATE AND LOWER PAYMENT... THAT WAY ATLEAST THEY CAN GET THEIR PAYMENT WHEN THE ECONOMY SITUATION GOES BETTER WITH THAT FAMILY... BUT i KNOW IT NOT GONNA HAPPEN, COZ EVERYBODY THINKS FOR THEIR OWN BELLY...
This story has more holes and unsupported assumptions than Swiss cheese.....regrettable, but true. Projecting appreciation at this point is a futile exercise given the economy and the consistently sporadic employment picture.
There's a reason US News is such a thin book these days. Hack, hack, hack.
TO DAY IF YOU HAVE SAVINGS, THEY PAY YOU 1%...LOL... BUT IF YOU LOAN SOMETHING YOU HAVE TO PAY BACK 6% - 8% - 12% - 18% OR SOMETIMES 24%... WHY...???
DO YOU KNOW TODAY STEALING PEOPLE IS MADE OUT OF VERY SMALL AMOUNT LIKE A DOLLAR OR 2 OUT OF EVERY ACCOUNT IN MANY MANY DIFFERENT REASONS...!!!??? BANKS MAKING MILLIONS OF DOLLARD BY TAKING SINGLE DOLLAR FROM EVERY SINGLE ACCOUNT PER MONTH AND THEY HAVE VERY SMART PEOPLE UP THERE... I NEVER PUT MY MONEY IN THE BANK... I DON'T NEED THEIR 1%... SO THIS WAY I'M THE OWNER OF MY MONEY... I PUT JUST AS MUCH AS I NEED IT TO SPEND... WE ARE SMALL PEOPLE... BUT TOGETHER WE MAKES THE BANKERS BILLIONAIRES...
THERE IS A FUNNY STORY ABOUT A WELTY MAN AND HIS POOR FRIEND...
ON DAY THE RICH MAN TAKE HIS POOR FRIEND TO SHOW HIM HIS NEW HOUSE ON TOP OF THE HILL... HE SHOWED EVERYWHERE AND THEN HE SAID THIS IS MY LIVING ROOM AND SEE HOW BEAUTIFUL VIEW I HAVE... WHOLE CITY IS UNDER MY FEET... SUDDENLY HIS POOR FRIEND TURNED TO HIM AND SAID... IF WE POOR PEOPLE WERE NOT LIVING IN THOSE SMALL APARTMENT TO TURN A LIGHT EVERY NIGHT, THEN WHERE WOULD YOUR VIEW CAME FROM...LOOOOOOOOOOL...
SO THERE IS A BIG IDEA HIDDEN IN THIS SMALL FUNNY STORY...
I have never let the media control my attitude about anything, Chances are if television says it is good, it isn't. We have worked hard but, smart at the same time. We have no problem with credit because we use it wisely. We let it work for us instead of making someone else rich with interest. Our home is a place to live and feel comfortable. It is not a museum, a show place or a piggy bank. We travel & dine out but do it thoughtfully and use coupons. Why pay a retail price for anything? We have no problem buying used. BOGO is our mantra and actually did it recently with a washer/dryer. My husbands car is ten years old. Mine is fourteen. Why replace some big item if it is still in good shape??? I don't understand people who buy new furniture every few years or cars...We were lucky in our careers but still fought for everything and never cheated a soul...I am sorry for the state of the economy but, for all you like minded people out in cyberspace, we understand that it
will get better. Hang on everyone and don't be afraid to ask for discounts...No merchant will lose money. They may actually be willing to earn a little less to make a sale... Now is the time to be bold in this respect...
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.