Is Home Ownership Welfare For The Middle Class

[The Big Daddy C-Master]

Do you like the way the government socializes home ownership to buy votes, largely from the middle class? Do you like the fact that they're subsidized at the expense of those who don't own homes? What about the deductions and guarantees they get along with the artificially low interest rates?

Thoughts?

[JACK-2]

No,too familiar on this. Can you give an explanation on how government profits from home ownership.

[The Big Daddy C-Master]

Aug 4, 2015 12:33:11 GMT -5 JACK-2 said:

No,too familiar on this. Can you give an explanation on how government profits from home ownership.

Well what I'm saying is that home ownership is a way to transfer wealth from non-homeowners (renters) to homeowners.

First there's the artificial boom because homes are glorified like college degrees and are basically a religion. Homeowners like people who have degrees, feel that they get rich simply by owning a home and nothing could be further from the truth. Homes cost money and require maintenance and you can't get rich by simply living in one.

The reason people feel this way is because home ownership is largely subsidized by the government. They get their interest payment write off, government guaranteed loans (much like college), and artificially low interest rates because the government wants idiots to feel rich owning a house, but at the same time make it so the average person can "afford it". Much like student loans this means subsidizing it through the rest of us while artificially spiking the price. You can't have a buyer and seller market simultaneously. Sellers want high prices and buyers want low prices.


If you tried to change these laws you would get a lot of resistance from the middle class, who benefit from these loans and many often need them since they over leveraged on homes. Homes are a luxury. They are a cost. *Not* an investment (unless you're renting). It's time for America to get a dose of reality.

mortgagenewsclips.com/2015/01/13/affordable-housing-subsidies-are-grossly-unfair/

www.washingtonexaminer.com/time-to-scrap-the-mortgage-interest-deduction/article/2546420

[JACK-2]

So, what do you believe renting is better? Home ownership does put you in debt.

[The Big Daddy C-Master]

Aug 4, 2015 14:34:11 GMT -5 JACK-2 said:

So, what do you believe renting is better? Home ownership does put you in debt.

Buy a home like you spend money on anything else. It's an expense, not something that'll magically make you rich.

Personally I would recommend renting for most because they don't need to be tied to such a huge debt. Also if you plan on moving around you don't need the albatross.

People would be further ahead if they weren't drowning in these extra costs.



View the prophecy.

[JACK-2]

Gotta love how all the things that we're told we must to do in life always turn out to be some scam that Government is using to make money. Get married, So, you can get milked for all you got in family court. Go to College, so you can be up to your waste in debt learning pointless skills. Buy a home, so you can be a slave to your mortage until you're old. It's all some kind of scam or ponzi scheme. This is how I became so jaded in recent years.

[The Big Daddy C-Master]

Aug 4, 2015 15:11:19 GMT -5 JACK-2 said:

Gotta love how all the things that we're told we must to do in life always turn out to be some scam that Government is using to make money. Get married, So, you can get milked for all you got in family court. Go to College, so you can be up to your waste in debt learning pointless skills. Buy a home, so you can be a slave to your mortage until you're old. It's all some kind of scam or ponzi scheme. This is how I became so jaded in recent years.

Exactly. Whenever people say "you gotta do xxxx", it's probably something you should run from.

You gotta have kids.
You gotta get married.
You gotta go to college.
You gotta buy a house.

These are all things the average idiot has been told they need to do. Look what consequences these ideals have. The only thing I have to do is what I want to do.

[JACK-2]

It just the fact that these list of "you gotta" involve the government making some kind of profit. But, it's framed as being moralistic when it's a scam.

[The Big Daddy C-Master]

Aug 4, 2015 15:38:14 GMT -5 JACK-2 said:

It just the fact that these list of "you gotta" involve the government making some kind of profit. But, it's framed as being moralistic when it's a scam.

They work their way into these things and make them a scam. They aren't the only that make a profit. Teachers, realtors, and other groups like lawyers lobby to get these laws because it benefits them too.

[JACK-2]

Do you move around alot? What kind of places do you rent?

[The Big Daddy C-Master]

Right now I do most of my traveling in town. However I plan on moving around a lot more in the future which is why I don't want any unnecessary attachments. Especially not anything with that long of a payment plan.