CDZ Why we keep pumping the housing industry, National Security?

Discussion in 'Clean Debate Zone' started by Toronado3800, Aug 10, 2017.

  1. Toronado3800
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    Toronado3800 VIP Member

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    Reading yet another article about the loosening of mortgage restrictions which began under Obama and has accelerated under Trump got me thinking about the reasons behind why we are attracted to this dangerous game.

    1. Bankers have power and like making money. They make more in good times and are protected in their crashes.
    2. Our representatives like being VIP's at dinners with the wealthy.
    3. People think they are helping stabilize the lower middle class by allowing them to buy too much of a home.
    4. National Security. Yup.

    4 is the interesting one. By raising home values across the country we create imaginary wealth which turns into cash and taxes. This gives the government more money to pay off Reagan's, Bush's and Obama's debts. More importantly it gives the government more money to feed the (pretty necessary) Military Industrial Complex so we can race the Chinese and fight in the Middle East.

    If not for 4 I'd say phooey on the bank(ruptcy) industry and the welfare we fund their mortgage games with.

    Do I NEED a new house? Nope, got one. If the school district sucks then use a pay as you go private school. The school district would probably be better if all our old neighbors couldn't white flight so efficiently with welfare mortgages anyways.

    Do our houses wear out? Sort of. For the most part its because we are too busy on our phones watching Netflix to learn how to do minor repairs though. Putting a new roof on your home is still cheaper than a new mortgage. Probably cost as much a month as your cable or cell bill if you finance it.

    I have an apartment and have always dreamed of owning a home but they are soo expensive here in Nevada, California or Hawaii. Yeah, that sucks. You oughta see what $80,000 will get you in Missouri and I'm not here to give California or Hawaii welfare to prop up their expensive to maintain infrastructure. Anyways, if we didn't suck everyone with a job out of apartments here they wouldn't be such little barrios of young people, and near transients. Tell people you live in an apartment here in Missouri and they wonder what's wrong with you.

    So, in my opinion the only reasonable reason to play this dangerous game with the mortgage industry is to create wealth which funds the military so we can maintain supremacy over China and whoever.
     
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  2. william the wie
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    william the wie Gold Member

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    The wife and I have been debt free for 25 years, I had one credit card 40 years ago and I have never had a car note. please expand on your OP
     
  3. Xelor
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    Xelor Gold Member

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    No, they don't.

    People are expected to use good judgment when selecting a home to buy. Just because someone will loan one huge sums to buy a home does not mean that one should borrow the huge sum to which one has access.
     
  4. Xelor
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    Xelor Gold Member

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    Does that happen where you live? For most people, property tax is a state or local assessment, not a federal one. By precisely what contrivance(s) do believe property taxes end up paying for the national debt?

    Occasionally, some individuals may sell real a primary residence and realize a gain. From a federal income tax standpoint, the gain is not taxable if (1) one qualifies for it and (2) it does not exceed the stipulated threshold. In any two-year period, one may claim the election one time, but one may buy and sell a primary residence every two years and claim the election each time. If for some reason one does not qualify for the exclusion, one can channel the gain into another primary residence and avoid paying tax on the gain.
     
  5. jwoodie
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    jwoodie Gold Member Supporting Member

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    What is the point of this thread?
     
  6. Toronado3800
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    Toronado3800 VIP Member

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    I view all my taxes as essentially going to one big pot. If Nebraska does not have money to pay for Hurricane relief the federal government ends up paying. If the feds don't have enough money for this or that they pawn it off on the states. Contrived, maybe.
     
  7. Toronado3800
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    Toronado3800 VIP Member

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    The point? The least bad reason to risk letting the mortgage companies run wild is the way increased property values create American wealth. American wealth which ends up supporting our military.

    Not sure what I would do to be honest. As much as I dislike bailing out businessmen at least this is a reason to take the risk. Is it worth it? I'm contemplating.
     
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  8. Xelor
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    Xelor Gold Member

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    Okay...TY for sharing that....

    It's contrived, but in this instance the contrivance isn't the problem. The problem is that it's inaccurate.

    Discursive suggestion:
    It's fitting for taxpayers to construe their tax expenditures as coming from one post, and to perform their tax minimization strategies and tactics accordingly, but it's simply not so that those funds all land in the same pot. On a personal level, one can think of them as all going into one pot, or in any other way that suits one, which is why the contrivance you have isn't the problem. If one is going to publicly discuss taxes, tax policy, etc., however, to make one's point and oneself as well as one's point(s) of argument/observation be taken as credible, one must discuss them accurately.

    In terms of your earlier remarks about property taxes, your contrivance causes the problem of your publicly made remarks being inaccurate. Have whatever tax-related contrivances you want, but withhold them when with others you discuss taxes.​
     
    Last edited: Aug 11, 2017
  9. Toronado3800
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    Toronado3800 VIP Member

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    I disagree but thats part of life. If local school boards are awash in money but by and large they get less federal money. If your paypal account had $500 in it and your mortgage was due yet the account you usually used did not have enough.....

    There are enough secondary ways higher home values pump the available tax base as well.

    Man it has been nice here for August.
     
  10. Xelor
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    Xelor Gold Member

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    OT:
    Here where? On USMB? In some geographic location?
     

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