I don't what the deal is with house prices these days...all I know is that my parents bought a a decent house for a family of 4 in the late 1980s in eastern Washington for like $55,000, and then sold it in 2005 for like $200,000. And they didn't add-on to it or restore it or anything fancy like that , and it wasn't in some tourist hot spot either. That was just how much the general price of houses went up in 20 years.
So that's almost quadruple the price. Now, I don't know if this is the right way to do the math, but wages certainly haven't quadrupled in that time frame, either. And it's more costly to get a job these days, too. My dad bought that house on a truck driver salary...a job he got with no experience, no schooling, and no special license. He got it by simply walking into a place that said "hiring truck drivers", going on a drive with an experienced driver, and having that driver tell his boss "yeah, he did good, you should hire him", and the boss saying "okay, be here tomorrow at 7". And it wasn't no high-stress trucking job, either. They were short runs in-state, he was home by 6pm every night, and he had weekends off. With that job, he was able to buy a decent house and raise 2 kids while m y mom stayed home and raised us, cooked for us, cleaned, etc.
I'm not saying baby boomers had it easier overall, but in some ways they did.
Interest rates were in the double digits in the 80's and lenders were more stringent than when they sold the house in 2005. They literally wrote stated income loans that allowed for no income verification.... At all and it only cost you half a point to do so in 2005. So in reality your income only needed to increase 50% as you could buy that house at 4.5% in 2005 with $0 down as opposed to the 15-19% that your parents had on their loan.
Hey you said something correct!
Another difference is that many people don't get to take advantage of deducting mortgage interest with rates so low. That wasn't a problem when rates were 15%.
Hey you didn't!!!!... again.
When you are paying 15% on a $50,000 loan, the interest deduction is only slightly lower than when your paying 4.5% on a 200,000 loan.
But I get it,That pesky arithmetic is HARD!!!
Hey look, you are dumb again!
Guess how long you can continue to itemize mortgage interest with a 15% rate vs a 4% rate.
I don't what the deal is with house prices these days...all I know is that my parents bought a a decent house for a family of 4 in the late 1980s in eastern Washington for like $55,000, and then sold it in 2005 for like $200,000. And they didn't add-on to it or restore it or anything fancy like that , and it wasn't in some tourist hot spot either. That was just how much the general price of houses went up in 20 years.
So that's almost quadruple the price. Now, I don't know if this is the right way to do the math, but wages certainly haven't quadrupled in that time frame, either. And it's more costly to get a job these days, too. My dad bought that house on a truck driver salary...a job he got with no experience, no schooling, and no special license. He got it by simply walking into a place that said "hiring truck drivers", going on a drive with an experienced driver, and having that driver tell his boss "yeah, he did good, you should hire him", and the boss saying "okay, be here tomorrow at 7". And it wasn't no high-stress trucking job, either. They were short runs in-state, he was home by 6pm every night, and he had weekends off. With that job, he was able to buy a decent house and raise 2 kids while m y mom stayed home and raised us, cooked for us, cleaned, etc.
I'm not saying baby boomers had it easier overall, but in some ways they did.
Interest rates were in the double digits in the 80's and lenders were more stringent than when they sold the house in 2005. They literally wrote stated income loans that allowed for no income verification.... At all and it only cost you half a point to do so in 2005. So in reality your income only needed to increase 50% as you could buy that house at 4.5% in 2005 with $0 down as opposed to the 15-19% that your parents had on their loan.
Hey you said something correct!
Another difference is that many people don't get to take advantage of deducting mortgage interest with rates so low. That wasn't a problem when rates were 15%.
Hey you didn't!!!!... again.
When you are paying 15% on a $50,000 loan, the interest deduction is only slightly lower than when your paying 4.5% on a 200,000 loan.
But I get it,That pesky arithmetic is HARD!!!
It's too early in the morning for this kind of brain busting shit
I don't what the deal is with house prices these days...all I know is that my parents bought a a decent house for a family of 4 in the late 1980s in eastern Washington for like $55,000, and then sold it in 2005 for like $200,000. And they didn't add-on to it or restore it or anything fancy like that , and it wasn't in some tourist hot spot either. That was just how much the general price of houses went up in 20 years.
So that's almost quadruple the price. Now, I don't know if this is the right way to do the math, but wages certainly haven't quadrupled in that time frame, either. And it's more costly to get a job these days, too. My dad bought that house on a truck driver salary...a job he got with no experience, no schooling, and no special license. He got it by simply walking into a place that said "hiring truck drivers", going on a drive with an experienced driver, and having that driver tell his boss "yeah, he did good, you should hire him", and the boss saying "okay, be here tomorrow at 7". And it wasn't no high-stress trucking job, either. They were short runs in-state, he was home by 6pm every night, and he had weekends off. With that job, he was able to buy a decent house and raise 2 kids while m y mom stayed home and raised us, cooked for us, cleaned, etc.
I'm not saying baby boomers had it easier overall, but in some ways they did.
Interest rates were in the double digits in the 80's and lenders were more stringent than when they sold the house in 2005. They literally wrote stated income loans that allowed for no income verification.... At all and it only cost you half a point to do so in 2005. So in reality your income only needed to increase 50% as you could buy that house at 4.5% in 2005 with $0 down as opposed to the 15-19% that your parents had on their loan.
Hey you said something correct!
Another difference is that many people don't get to take advantage of deducting mortgage interest with rates so low. That wasn't a problem when rates were 15%.
Hey you didn't!!!!... again.
When you are paying 15% on a $50,000 loan, the interest deduction is only slightly lower than when your paying 4.5% on a 200,000 loan.
But I get it,That pesky arithmetic is HARD!!!
It's too early in the morning for this kind of brain busting shit
I don't what the deal is with house prices these days...all I know is that my parents bought a a decent house for a family of 4 in the late 1980s in eastern Washington for like $55,000, and then sold it in 2005 for like $200,000. And they didn't add-on to it or restore it or anything fancy like that , and it wasn't in some tourist hot spot either. That was just how much the general price of houses went up in 20 years.
So that's almost quadruple the price. Now, I don't know if this is the right way to do the math, but wages certainly haven't quadrupled in that time frame, either. And it's more costly to get a job these days, too. My dad bought that house on a truck driver salary...a job he got with no experience, no schooling, and no special license. He got it by simply walking into a place that said "hiring truck drivers", going on a drive with an experienced driver, and having that driver tell his boss "yeah, he did good, you should hire him", and the boss saying "okay, be here tomorrow at 7". And it wasn't no high-stress trucking job, either. They were short runs in-state, he was home by 6pm every night, and he had weekends off. With that job, he was able to buy a decent house and raise 2 kids while m y mom stayed home and raised us, cooked for us, cleaned, etc.
I'm not saying baby boomers had it easier overall, but in some ways they did.
Interest rates were in the double digits in the 80's and lenders were more stringent than when they sold the house in 2005. They literally wrote stated income loans that allowed for no income verification.... At all and it only cost you half a point to do so in 2005. So in reality your income only needed to increase 50% as you could buy that house at 4.5% in 2005 with $0 down as opposed to the 15-19% that your parents had on their loan.
Hey you said something correct!
Another difference is that many people don't get to take advantage of deducting mortgage interest with rates so low. That wasn't a problem when rates were 15%.
Hey you didn't!!!!... again.
When you are paying 15% on a $50,000 loan, the interest deduction is only slightly lower than when your paying 4.5% on a 200,000 loan.
But I get it,That pesky arithmetic is HARD!!!
It's too early in the morning for this kind of brain busting shit
I don't what the deal is with house prices these days...all I know is that my parents bought a a decent house for a family of 4 in the late 1980s in eastern Washington for like $55,000, and then sold it in 2005 for like $200,000. And they didn't add-on to it or restore it or anything fancy like that , and it wasn't in some tourist hot spot either. That was just how much the general price of houses went up in 20 years.
So that's almost quadruple the price. Now, I don't know if this is the right way to do the math, but wages certainly haven't quadrupled in that time frame, either. And it's more costly to get a job these days, too. My dad bought that house on a truck driver salary...a job he got with no experience, no schooling, and no special license. He got it by simply walking into a place that said "hiring truck drivers", going on a drive with an experienced driver, and having that driver tell his boss "yeah, he did good, you should hire him", and the boss saying "okay, be here tomorrow at 7". And it wasn't no high-stress trucking job, either. They were short runs in-state, he was home by 6pm every night, and he had weekends off. With that job, he was able to buy a decent house and raise 2 kids while m y mom stayed home and raised us, cooked for us, cleaned, etc.
I'm not saying baby boomers had it easier overall, but in some ways they did.
Interest rates were in the double digits in the 80's and lenders were more stringent than when they sold the house in 2005. They literally wrote stated income loans that allowed for no income verification.... At all and it only cost you half a point to do so in 2005. So in reality your income only needed to increase 50% as you could buy that house at 4.5% in 2005 with $0 down as opposed to the 15-19% that your parents had on their loan.
Hey you said something correct!
Another difference is that many people don't get to take advantage of deducting mortgage interest with rates so low. That wasn't a problem when rates were 15%.
Hey you didn't!!!!... again.
When you are paying 15% on a $50,000 loan, the interest deduction is only slightly lower than when your paying 4.5% on a 200,000 loan.
But I get it,That pesky arithmetic is HARD!!!
Hey look, you are dumb again!
Guess how long you can continue to itemize mortgage interest with a 15% rate vs a 4% rate.
As long as the term is or as long as its worth it to do so. It makes no difference.
Let may put this in a way that you can understand. Unless you are really trying to say its better to pay interest in so that you may get a tax deduction, rather than not have to pay it and have the cash in hand. Cuz that's really dumb.
I don't what the deal is with house prices these days...all I know is that my parents bought a a decent house for a family of 4 in the late 1980s in eastern Washington for like $55,000, and then sold it in 2005 for like $200,000. And they didn't add-on to it or restore it or anything fancy like that , and it wasn't in some tourist hot spot either. That was just how much the general price of houses went up in 20 years.
So that's almost quadruple the price. Now, I don't know if this is the right way to do the math, but wages certainly haven't quadrupled in that time frame, either. And it's more costly to get a job these days, too. My dad bought that house on a truck driver salary...a job he got with no experience, no schooling, and no special license. He got it by simply walking into a place that said "hiring truck drivers", going on a drive with an experienced driver, and having that driver tell his boss "yeah, he did good, you should hire him", and the boss saying "okay, be here tomorrow at 7". And it wasn't no high-stress trucking job, either. They were short runs in-state, he was home by 6pm every night, and he had weekends off. With that job, he was able to buy a decent house and raise 2 kids while m y mom stayed home and raised us, cooked for us, cleaned, etc.
I'm not saying baby boomers had it easier overall, but in some ways they did.
Interest rates were in the double digits in the 80's and lenders were more stringent than when they sold the house in 2005. They literally wrote stated income loans that allowed for no income verification.... At all and it only cost you half a point to do so in 2005. So in reality your income only needed to increase 50% as you could buy that house at 4.5% in 2005 with $0 down as opposed to the 15-19% that your parents had on their loan.
Hey you said something correct!
Another difference is that many people don't get to take advantage of deducting mortgage interest with rates so low. That wasn't a problem when rates were 15%.
Hey you didn't!!!!... again.
When you are paying 15% on a $50,000 loan, the interest deduction is only slightly lower than when your paying 4.5% on a 200,000 loan.
But I get it,That pesky arithmetic is HARD!!!
Hey look, you are dumb again!
Guess how long you can continue to itemize mortgage interest with a 15% rate vs a 4% rate.
As long as the term is or as long as its worth it to do so. It makes no difference.
Let may put this in a way that you can understand. Unless you are really trying to say its better to pay interest in so that you may get a tax deduction, rather than not have to pay it and have the cash in hand. Cuz that's really dumb.
No, I'm saying that while the interest rates were much higher, you were able to itemize and deduct the interest for a longer portion of the mortgage. Married couples could itemize for an extra seven years on average.
I don't what the deal is with house prices these days...all I know is that my parents bought a a decent house for a family of 4 in the late 1980s in eastern Washington for like $55,000, and then sold it in 2005 for like $200,000. And they didn't add-on to it or restore it or anything fancy like that , and it wasn't in some tourist hot spot either. That was just how much the general price of houses went up in 20 years.
So that's almost quadruple the price. Now, I don't know if this is the right way to do the math, but wages certainly haven't quadrupled in that time frame, either. And it's more costly to get a job these days, too. My dad bought that house on a truck driver salary...a job he got with no experience, no schooling, and no special license. He got it by simply walking into a place that said "hiring truck drivers", going on a drive with an experienced driver, and having that driver tell his boss "yeah, he did good, you should hire him", and the boss saying "okay, be here tomorrow at 7". And it wasn't no high-stress trucking job, either. They were short runs in-state, he was home by 6pm every night, and he had weekends off. With that job, he was able to buy a decent house and raise 2 kids while m y mom stayed home and raised us, cooked for us, cleaned, etc.
I'm not saying baby boomers had it easier overall, but in some ways they did.
Interest rates were in the double digits in the 80's and lenders were more stringent than when they sold the house in 2005. They literally wrote stated income loans that allowed for no income verification.... At all and it only cost you half a point to do so in 2005. So in reality your income only needed to increase 50% as you could buy that house at 4.5% in 2005 with $0 down as opposed to the 15-19% that your parents had on their loan.
Hey you said something correct!
Another difference is that many people don't get to take advantage of deducting mortgage interest with rates so low. That wasn't a problem when rates were 15%.
Hey you didn't!!!!... again.
When you are paying 15% on a $50,000 loan, the interest deduction is only slightly lower than when your paying 4.5% on a 200,000 loan.
But I get it,That pesky arithmetic is HARD!!!
It's too early in the morning for this kind of brain busting shit
He says at 11AM. Proves you are a messican btw.
How do you starve a messican?
Hide his food stamps under his work boots.
Do lazy jokes work for Mexicans?
Only the fat drunk mouse. Not Speedy Gonzalez, the fastest mouse in all of Messico.
I don't what the deal is with house prices these days...all I know is that my parents bought a a decent house for a family of 4 in the late 1980s in eastern Washington for like $55,000, and then sold it in 2005 for like $200,000. And they didn't add-on to it or restore it or anything fancy like that , and it wasn't in some tourist hot spot either. That was just how much the general price of houses went up in 20 years.
So that's almost quadruple the price. Now, I don't know if this is the right way to do the math, but wages certainly haven't quadrupled in that time frame, either. And it's more costly to get a job these days, too. My dad bought that house on a truck driver salary...a job he got with no experience, no schooling, and no special license. He got it by simply walking into a place that said "hiring truck drivers", going on a drive with an experienced driver, and having that driver tell his boss "yeah, he did good, you should hire him", and the boss saying "okay, be here tomorrow at 7". And it wasn't no high-stress trucking job, either. They were short runs in-state, he was home by 6pm every night, and he had weekends off. With that job, he was able to buy a decent house and raise 2 kids while m y mom stayed home and raised us, cooked for us, cleaned, etc.
I'm not saying baby boomers had it easier overall, but in some ways they did.
Interest rates were in the double digits in the 80's and lenders were more stringent than when they sold the house in 2005. They literally wrote stated income loans that allowed for no income verification.... At all and it only cost you half a point to do so in 2005. So in reality your income only needed to increase 50% as you could buy that house at 4.5% in 2005 with $0 down as opposed to the 15-19% that your parents had on their loan.
Hey you said something correct!
Another difference is that many people don't get to take advantage of deducting mortgage interest with rates so low. That wasn't a problem when rates were 15%.
Hey you didn't!!!!... again.
When you are paying 15% on a $50,000 loan, the interest deduction is only slightly lower than when your paying 4.5% on a 200,000 loan.
But I get it,That pesky arithmetic is HARD!!!
Hey look, you are dumb again!
Guess how long you can continue to itemize mortgage interest with a 15% rate vs a 4% rate.
As long as the term is or as long as its worth it to do so. It makes no difference.
Let may put this in a way that you can understand. Unless you are really trying to say its better to pay interest in so that you may get a tax deduction, rather than not have to pay it and have the cash in hand. Cuz that's really dumb.
No, I'm saying that while the interest rates were much higher, you were able to itemize and deduct the interest for a longer portion of the mortgage. Married couples could itemize for an extra seven years on average.
You're problem is, you want to check out of the Hotel California when you 'should' be taking out a HEQ loan as down payment on another rental so you can keep deducting!
I don't what the deal is with house prices these days...all I know is that my parents bought a a decent house for a family of 4 in the late 1980s in eastern Washington for like $55,000, and then sold it in 2005 for like $200,000. And they didn't add-on to it or restore it or anything fancy like that , and it wasn't in some tourist hot spot either. That was just how much the general price of houses went up in 20 years.
So that's almost quadruple the price. Now, I don't know if this is the right way to do the math, but wages certainly haven't quadrupled in that time frame, either. And it's more costly to get a job these days, too. My dad bought that house on a truck driver salary...a job he got with no experience, no schooling, and no special license. He got it by simply walking into a place that said "hiring truck drivers", going on a drive with an experienced driver, and having that driver tell his boss "yeah, he did good, you should hire him", and the boss saying "okay, be here tomorrow at 7". And it wasn't no high-stress trucking job, either. They were short runs in-state, he was home by 6pm every night, and he had weekends off. With that job, he was able to buy a decent house and raise 2 kids while m y mom stayed home and raised us, cooked for us, cleaned, etc.
I'm not saying baby boomers had it easier overall, but in some ways they did.
Interest rates were in the double digits in the 80's and lenders were more stringent than when they sold the house in 2005. They literally wrote stated income loans that allowed for no income verification.... At all and it only cost you half a point to do so in 2005. So in reality your income only needed to increase 50% as you could buy that house at 4.5% in 2005 with $0 down as opposed to the 15-19% that your parents had on their loan.
Hey you said something correct!
Another difference is that many people don't get to take advantage of deducting mortgage interest with rates so low. That wasn't a problem when rates were 15%.
Hey you didn't!!!!... again.
When you are paying 15% on a $50,000 loan, the interest deduction is only slightly lower than when your paying 4.5% on a 200,000 loan.
But I get it,That pesky arithmetic is HARD!!!
Hey look, you are dumb again!
Guess how long you can continue to itemize mortgage interest with a 15% rate vs a 4% rate.
As long as the term is or as long as its worth it to do so. It makes no difference.
Let may put this in a way that you can understand. Unless you are really trying to say its better to pay interest in so that you may get a tax deduction, rather than not have to pay it and have the cash in hand. Cuz that's really dumb.
No, I'm saying that while the interest rates were much higher, you were able to itemize and deduct the interest for a longer portion of the mortgage. Married couples could itemize for an extra seven years on average.
You're problem is, you want to check out of the Hotel California when you 'should' be taking out a HEQ loan as down payment on another rental so you can keep deducting!
If your parents want to essentially give away your inheritance for 33 cents on the dollar then go reverse mortgage!
If you need to go the reverse mortgage route because your heirs aren't looking out for you, then fuck them anyway. They deserve a third of what they thought was coming to them.,
If your parents want to essentially give away your inheritance for 33 cents on the dollar then go reverse mortgage!
If you need to go the reverse mortgage route because your heirs aren't looking out for you, then fuck them anyway. They deserve a third of what they thought was coming to them.,
So I have to pay for my parent's poor career choices now?
Reverse mortgages are for those too paralyzed to make a sound financial decision or for rich folks to fund the life insurance plans in their tax avoidance estate tax plans.
If your parents want to essentially give away your inheritance for 33 cents on the dollar then go reverse mortgage!
If you need to go the reverse mortgage route because your heirs aren't looking out for you, then fuck them anyway. They deserve a third of what they thought was coming to them.,
So I have to pay for my mom's poor sexual choices now?
Comments
Guess how long you can continue to itemize mortgage interest with a 15% rate vs a 4% rate.
How do you starve a messican?
Hide his food stamps under his work boots.
FML
Let may put this in a way that you can understand. Unless you are really trying to say its better to pay interest in so that you may get a tax deduction, rather than not have to pay it and have the cash in hand. Cuz that's really dumb.
To compete with sledog you gotta up your game
Pass.
Neither is a good use of government intervention.