SC Patriot
Diamond Member
- Aug 31, 2020
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here is a good question....I did not say that. Owing a billion dollars so you can purchase 3 billion in assets IS being in good shape. For some ideological reason, you left out the return part.The average homeowner doesn't have several billion in property value.Does the average home owner owe a billion dollars?The average home owner owes 80% of the value of their home. So if the home is valued at 300K and they buy it at 300K, they likely owe 240K for the home. Are they in debt? Yes, they owe 240K so they are in debt for 240K....but they have 300K in assets meaning they are above water for 60K. So they are not actually in debt. They are leveraging. That is how it works.Not really. Trump has hidden a lot of his debt from public view, obfuscated when asked about his massive debt, and is clearly not that great a businessman....having filed for bankruptcy multiple times.
Forbes brought some of the debt into sharp focus in a recent article:
Donald Trump Has At Least $1 Billion In Debt, More Than Twice The Amount He Suggested
The president’s liabilities are spelled out in dozens of documents, published here.www.forbes.com
Yes...over $1B in debt is owed by Trump. And that is just what the experts at Forbes can find from the public disclosures which are murky at best. Murky by design no doubt. The multiple lenders (Deutsch, Ladder Financial, etc...) own most of his ass. But that's quite a bit of ass to own...there are a lot of harpoons in the whale.
Here are the top debts that he owes as described in the article....
View attachment 403160View attachment 403161View attachment 403162View attachment 403163View attachment 403164View attachment 403165View attachment 403166View attachment 403167View attachment 403168
Furthermore, thanks to the laws passed by congress....both democrats and republicans.....one can write off the interest on the debt....
Finally, they may owe 240K, have assets of 300K, but as they pay the debt off, their value to loan decreases and they are living free of rent.
Sadly, those that rent dont get it.
My guess is you rent, otherwise you would have not posted this.
Apples to apples. You owe 200K for 300K in property value, you are in good shape. You owe 1 billion for 3 billion in property value, you are in good shape.
Not rocket science.
Owing a billion dollars is a sign of being in good shape? . WOW.
The level of detachment from the facts for TDSers is incredible.
Personally, I find your posts quite naïve to real life. You must rent and live check to check. I get it. It sux. Perhaps years ago, if you understood leveraging you would have bought and not rented and now you would owe 200 K but have 400K in assets.
I know.....I am confusing you.
Sorry.
Thinking owing a billion dollars is a good thing means you're seriously confused yourself. I know, I know....logic isn't your strong suit. Sorry.
And I would like an honest answer.
If a single mom is able to put 50K down on purchasing a house with a value of 250K....giving her 200K in debt at a cost of about 1500 a month in todays lending market...and the interest on the debt allows her a write off on her taxes and purchasing that home saves her 1000 in rent that has no return....and every 1500 a month she pays for the mortgage ,some goes to pay off the home with more to interest at the beginning but more to principal after 20 years....here is how it stands....and I would like to see how you respond
She is paying 500 a month more to own.
She gets to write off part of that 1500 a month
She is not paying rent
Every payment she makes is actually not like rent....it is becoming equity as it goes to the loan on the home
So, in essence, she is not only living rent free, but she is actually adding to the equity of her home
She has collateral to be used for a HELOC or car loan or student loan or whatever she wants....something she doesn't get with renting .
Didi she make a mistake?