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Old 08-13-2014, 11:54 PM
 
33,046 posts, read 22,072,092 times
Reputation: 8970

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Quote:
Originally Posted by anifani821 View Post
Oh. Yeah. It's hell having to pay back the debt we legally incur.

Only when a 20% fee is charged every time you make a payment; the principal and interest have been paid off and the fees I have paid exceed the original principal; what I owe today is a collection of fees.

My student loan payments leave me at poverty level, while borrowers with 50% more income than I are getting monthly payments of zero.

I bet you think the financial aid system is fair as well. If it's fair, why did I have to clean toilets and deliver pizzas to pay for school?
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Old 08-14-2014, 12:00 AM
 
33,046 posts, read 22,072,092 times
Reputation: 8970
Quote:
Originally Posted by anifani821 View Post
The problem is with tenants, and many times, the tenant him/herself is not the problem - the unauthorized people who LIVE with the tenant are the problem.

There are plenty, plenty of drug-free, crime-free, and timely rent-paying (but low-income) unsubsidized tenants from which to choose. Therefore, the tenant problems associated with subsidized housing are clearly the result of shoddy management by greedy landlords..
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Old 08-14-2014, 01:11 AM
 
Location: State of Being
35,885 posts, read 67,186,293 times
Reputation: 22375
Quote:
Originally Posted by freemkt View Post
There are plenty, plenty of drug-free, crime-free, and timely rent-paying (but low-income) unsubsidized tenants from which to choose. Therefore, the tenant problems associated with subsidized housing are clearly the result of shoddy management by greedy landlords..
Of course!!! That's it! It has to be a failure on the part of the person or corporation that owns the property. It can't be the parasitic druggies, antisocial thugs and gangstas at fault. And even if they are the problem, let's give them a pass cause to do otherwise would suggest that all the social re-engineering the federal government has been engaged in for the last 50 has been for naught.

Tell all this to granny who is over run by her crackhead grandkids in her subsidized apartment. I am sure she will be comforted to know that even tho her gangsta wannbe grandkid is stealing her money, it is really all the landlord's fault.

Last edited by brokensky; 08-14-2014 at 01:22 AM..
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Old 08-14-2014, 01:19 AM
 
Location: State of Being
35,885 posts, read 67,186,293 times
Reputation: 22375
Quote:
Originally Posted by freemkt View Post
Only when a 20% fee is charged every time you make a payment; the principal and interest have been paid off and the fees I have paid exceed the original principal; what I owe today is a collection of fees.

My student loan payments leave me at poverty level, while borrowers with 50% more income than I are getting monthly payments of zero.

I bet you think the financial aid system is fair as well. If it's fair, why did I have to clean toilets and deliver pizzas to pay for school?
What do I think? I think I paid my way through college and then went on to pay for the bulk of the education costs and living expenses for 5 children.

I think you have a helluva lotta nerve to think your college degree should have been handed to you no charge. And I think you were foolish if you subsidized your education that heavily with loans when you could have gotten a two year degree for pennies on the dollar at your community college and then transferred to a university for two years. Or, gotten a two year degree, landed a job, and then finished your degree online. Or, you could have joined the military after you finished your degree and gotten most or all of your student loans paid for as part of your sign up agreement. Or, you could have gotten loans that are forgiven if you agree to work in underserved areas.

That's what I think. Since you asked.
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Old 08-14-2014, 01:56 AM
 
71,697 posts, read 71,801,099 times
Reputation: 49262
Quote:
Originally Posted by freemkt View Post
Only 10-15 percent of homeowners are underwater today, according to Zillow and Trulia.

100% of renters are underwater.
Renters are not under water at all ,some have better cash flow and higher net worth just because they do rent,self included.

Renters are a mixed group ranging from poor to wealthy and mixed skills,creativity and ability to get ahead.

Some renters like yourself comitt their own financial suicide and then call it murder . Instead of finding a way you will find an excuse.
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Old 08-14-2014, 02:07 AM
 
16,437 posts, read 19,145,278 times
Reputation: 9518
let me ask all of you your opinion. My mortgage payment is $800 (for the next 29 1/2 years). The MRD on my 401k is $800 a month at current rates. If I withdraw my 401k entirely, after the huge tax hit I still can pay off my mortgage (just).

Which is the wiser course? The MRD distributions are taxable as regular income which tax of course can go up.

So, paid for house, or money in a 401K providing income for the next 29 years? What would you do?
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Old 08-14-2014, 03:12 AM
 
71,697 posts, read 71,801,099 times
Reputation: 49262
Being house rich and cash poor sucks!
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Old 08-14-2014, 03:22 AM
 
16,437 posts, read 19,145,278 times
Reputation: 9518
Quote:
Originally Posted by mathjak107 View Post
Being house rich and cash poor sucks!
Thanks for your thoughts. Many have said the same thing.
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Old 08-14-2014, 03:27 AM
 
71,697 posts, read 71,801,099 times
Reputation: 49262
The two are on opposite sides of the balance sheet. A home is an expense,it cost money. It may cut housing costs and generste less expense then renting but if you live init then it is an expense.

Your 401k is on the income side of the balance sheet . Eventually there is no longer expenses that can be cut and the house gets more and more expensive to own as time goes on.

You need both cost cutting and income to have things work out and find a balance.
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Old 08-14-2014, 04:06 AM
bUU
 
Location: Georgia
11,883 posts, read 8,666,921 times
Reputation: 8406
Quote:
Originally Posted by anifani821 View Post
(I am an ignorant Southerner, after all) ... BTW - what state is providing your entitlement check every month?
"Ignorant" had nothing to do with it - that is until you made this statement. People don't have to be less fortunate to have the moral fortitude to stand up for those less fortunate. This is going to become even more critical as more and more Americans enter retirement after having the safety net under them cut out by increasing imbalances in society.

Quote:
Originally Posted by TuborgP View Post
Fortunately you don't live here.
But others do, and while you may not care about how your decisions affect them, some folks do care about them.

Quote:
Originally Posted by Travelassie View Post
I'll cut through all the self-righteousness and pretension expressed in your post to inform you that when it's MY dime that's expected to support someone else's life, dignity, and self-worth, when so many of those I must support through MY efforts and hard work won't do it themselves, it damn well is about me.....and about everyone else who works to keep the public trough supplied.
At least you're honest and upfront about the self-motivation and avarice. So many sharing our views lie to themselves about it. Thank you for your candor.

Quote:
Originally Posted by mathjak107 View Post
Most folks confuse market volatility with risk. They are not the same at all.
To be fair, seven or eight decades of poor communication has resulted in that misunderstanding. I'm not sure if the fault lies with those who had the knowledge and didn't share it, or those who needed the knowledge but had no patience to deal with the nuance of two concepts instead of just one. But even here in this thread we see the resistance to internalizing the nuanced understanding of the situation, the simplistic two-sided view winning out for some folks rather than the complex three-sided view.
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