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Old 07-20-2017, 12:30 PM
 
4,229 posts, read 1,905,340 times
Reputation: 3782

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Quote:
Originally Posted by MrRational View Post
Get out of the clouds. Take a stand for once.
I have taken a firm and unshakable stand. There is simply no one-size-fits-all rule for what percentage of income to spend on housing. The answer depends critically on local and personal circumstances that have quite a high rate of variability.
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Old 07-20-2017, 01:12 PM
 
Location: The Triad (NC)
26,847 posts, read 57,851,863 times
Reputation: 29246
Quote:
Originally Posted by Pub-911 View Post
I have taken a firm and unshakable stand.
All you've done is hid.

Quote:
There is simply no one-size-fits-all rule for what percentage of income to spend on housing..
Who ever said there was? See... that's you redirecting.

Quote:
The answer depends critically on...
...on what YOU think is a reasonable approach to personal budgeting.

Our buddy Joe gets a check each week for $X... four or five of them a month.
How many of these should he allocate to everything else in his life?

And how many weeks of net earnings do YOU think should be spent on housing?
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Old 07-20-2017, 01:42 PM
 
4,229 posts, read 1,905,340 times
Reputation: 3782
News Flash: The world is not going to conform to your misconceptions of it, and neither am I.
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Old 07-20-2017, 06:31 PM
 
Location: Paranoid State
12,679 posts, read 9,425,981 times
Reputation: 14933
Quote:
Originally Posted by Pub-911 View Post
To some people, traffic lights are an example of "excess government regulation." And don't you know, traffic lights cost all of us billions of dollars in lost all sorts of things every year.
We're not discussing a shortage of traffic lights.
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Old 07-20-2017, 07:53 PM
 
6,997 posts, read 6,632,415 times
Reputation: 5274
Obama helped keep rental homes off the market

The Obama Administration Bails Out Private Equity Landlords at the Expense of the Middle Class: Government Guarantees for Rental Securitization | naked capitalism

These were originally foreclosures which were sold in bulk by the GSE's around 2012.

These firms also engage in predatory land installment sales and rent-to-buy contracts which end up with the homes staying in the hands of the private equity firms.
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Old 07-20-2017, 08:58 PM
 
725 posts, read 399,195 times
Reputation: 1081
Our economy is stuck in neutral or worse and attempts to build bubbles in housing and in stocks do not seem to be spilling over significantly into the real world economy. QE was a policy of 'fixing' stocks, commodities, US housing prices, so that they don't go down. The Fed has managed to prop up housing prices by essentially helping to buy all the bad mortgages on the market, since another drop in housing prices (which I think is inevitable) will destroy US banks.

I do realize that we are living in desperate times. Our leaders are desperate to preserve the status quo, and they are willing to steal all the money in the world from taxpayers and bank depositors to save the status quo. I feel very sorry for our kids and grandkids. How sick and crazy do you have to be to do all this since 2001????????? Our economy has been dead since 2001. Everything since 2001 has been a scam and manipulation to protect the status quo.
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Old 07-20-2017, 10:46 PM
 
25,813 posts, read 49,697,815 times
Reputation: 19249
Money to be made in any scenario if you have the courage of your conviction and your conviction proves correct.

When ever you have cyclical markets there is money to be made.
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Old 07-21-2017, 12:04 AM
 
3,579 posts, read 2,017,127 times
Reputation: 3299
Quote:
Originally Posted by MrRational View Post
Is it? How many weeks of net earnings do YOU think should be spent on housing?
Pub is right. Situations differ, and the percentage that can be intellegently spent on housing differs. This isn't debatable, except in an online forum.

You probably can't be convinced, but I'm posting this to add another voice to counter the bad advice.

Everyone should save, both for their immediate financial security and so they can eventually retire. But there are obviously many routes to get there. Sometimes paying more for housing, even way more, allows other expenses to be much lower, or income to be much higher. For example maybe it involves taking a job in an expensive city to improve pay and career growth. Maybe it means buying in the city you plan to live in forever, which tends to pay off if you keep the house for a long time. Maybe it's paying higher housing costs so your transportation costs can drop to nil.
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Old 07-21-2017, 04:56 AM
 
Location: The Triad (NC)
26,847 posts, read 57,851,863 times
Reputation: 29246
Quote:
Originally Posted by mhays25 View Post
Sometimes paying more for housing, even way more, allows other expenses to be much lower, or income to be much higher.
For example maybe it involves taking a job in an expensive city to improve pay and career growth.
Maybe it means buying in the city you plan to live in forever, which tends to pay off if you keep the house for a long time.
Maybe it's paying higher housing costs so your transportation costs can drop to nil.
Lot's of maybes there.

I'll turn the question around then.
How high can you psych yourself out to spend of that net ...and still say it can make sense?
How many weeks of net earnings do YOU think should be the limit spent on housing?
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Old 07-21-2017, 06:32 AM
 
4,229 posts, read 1,905,340 times
Reputation: 3782
Quote:
Originally Posted by SportyandMisty View Post
We're not discussing a shortage of traffic lights.
You were as soon as you mentioned the worn-out TEA Party punching bag of "excess government regulation."
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