Posted on 02/27/2025 8:05:50 AM PST by SeekAndFind
yes, above certain thresholds.
more specifically capital gains tax.
Whomever owns the note is getting a low return on their money. It’s still better than a default.
OK thanks. I’ve done some “back of the envelope” calculations and discovered I would owe substantial capital gains tax if I ever sold my house. So I’ve put off any such thoughts of selling.
I would have hoped most saw the writing on the wall when Barry the Muslim was elected. I changed my whole life around, was already debt free except 2 mortgages, but I sold one, paid off the other, then I bought another house, paid it off in 10 months and built a new house all cash(took 4 years). So here I sit with 3 paid for houses, about to retire in 6 months, will sell one then buy another for cash somewhere close to my daughter and grandchildren. It will cost me about 1/3 of what I sell one of the California houses for.
Having NO BILLS for the last 13 years has been Wonderful and I will never borrow another nickel for anything. I pay cash for new vehicles when I need one and just bought my wife a new car 6 months ago.
GET OUT OF DEBT, DON’T BORROW MONEY
????
I thought Free Republic conservatives are against all this globalization of recent decades? Some here are in favor of that?
True.
Sometimes people ask, why do so many mothers work? Why aren’t there more stay at home moms nowadays?
A key answer is that it takes two incomes to pay the mortgage on a house, which our parents and grandparents could afford on one income.
If a European investor bought a U.S. mortgage bond paying 3% interest on the day I closed on my home, they would have earned a 3% annual rate of return in dollars ... but the value of the bond would have increased by 11% when measured in euros just from the weakening of the euro against the dollar.
I was not able to to that with college and with a working spouse.
1. The U.S. emerged from WW2 as the only major industrial power that had not been devastated by the war. Our standard of living rose to unsustainable levels simply because we had no competitors on the world stage.
2. When I was a kid in grade school, it seemed like one out of every two or three classmates of mine had a grandparent living in their homes with them -- usually a widowed grandmother. I don't think those were cases of "one income" paying the mortgage at all; the pension and/or Social Security check was helping to pay the cost of the home.
Item #2 is critical here. One of the biggest factors in rising housing costs in the U.S. today is that our median household size is smaller than ever.
Uh, yea....interesting find.
The lack of affordable housing is all part of the plan.
The elites realized that home ownership by middle class people lead to “family” formation, that is, parents having kids. As far as the WEF leadership is concerned, that’s bad.
So unaffordable housing is all part of the population reduction program.
WEF “Fewer Forward into a Bleaker and lonely Future”.
I’ve owned my own home since I was 18. Paid off my mortgage at 45... 30 years ago. After the Almeda fire and getting screwed by Biden, my income is $800 a month less and housing is 2 1/2 times as much. I can no longer afford a home or to even get back to my community. I’ll die in a strange place in a cold scary old trailer.
the first $250,000 of gains are excluded if you are single and $500,000 if you are married filing jointly.
That’s what I think. My kids own their home, but have trouble making payments on it. However, they have a cleaning service, eat out frequently, and take lavish vacations at least twice a year. Yes, they both work hard, but they spend more money than they should be. It’s going to bite them in the butt hard sometime. They live pretty high on the hog. They don’t see it though, because everyone around them lives this same way. It’s extravagant.
I find it bizarre how these corrupt SOBs in government ever pushed through these punitive property taxes.
Pay taxes all your life, finally after decades of paying taxes and mortgages on your home they finally pay it off, Yet those in government still demands they pay them to live in their now paid off homes?
All their doing is renting from the corrupt government as those in government keep charging them more and more just to live in their paid off homes!
And the old folk on fixed incomes? They’re f*****! They just loot the sh*t out of those folks hoping they can seize their homes!
I find it bizarre how these corrupt SOBs in government ever pushed through these punitive property taxes.
Pay taxes all your life, finally after decades of paying taxes and mortgages on your home they finally pay it off, Yet those in government still demands they pay them to live in their now paid off homes?
All their doing is renting from the corrupt government as those in government keep charging them more and more just to live in their paid off homes!
And the old folk on fixed incomes? They’re f*****! They just loot the sh*t out of those folks hoping they can seize their homes!
I’m to the point in life where I will never be able to afford to purchase a home. I’ll be a renter until I pass from this mortal coil.
“I just looked up the annual property tax on a friend’s house in California: north of $18,000 a year. And no, it’s not a mansion in Malibu, and he bought it 20 years ago.”
Complete BS. Prop 13 limits property taxes to 1% of the value when the property is purchased and limits yearly increases to 2-3%.
That would mean he brought the property 20 years ago for ~ 1.5 million.
Not sure about the rest of the article but if he is that sloppy about this item, I wonder how accurate the rest of the article is.
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