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Property taxes increase as well as HOA fees and homeowner insurance.
That includes apartments as well less the HOA fee.
If that is as you say, how than can COLA be so paltry? Sounds like EVERYONE loses their entire COLA (and perhaps more) to housing cost increases before anything else is considered.
A lot of homeowners have expenses that consume their entire year's worth of COLA. A good friend is having to replace a ruptured water line and fix their foundation. This on a fixed income, at 75 years old.
Can you tell that I have no sympathy with folks that have CHOSEN their living situation, and then complain. There are pluses and minuses to owning and renting.
the colas are only linked to a weighted price index that will not match your own personal cost of living nor was it ever intended to.
it merely reflects a weighted basket of good and services for tracking purposes only not to reflect your own life's cost of living. with over 1500 mini econmies in this country nothing can reflect what you see nor should it..
it is weighted as to how a median hypothetical income would be spent in the same percentages.
housing costs and energy take up the most dollars so a drop in either one absorbs lots of price increases in milk or tomatoes.
64% of americans own a home and with either a fixed rate mortgage or payed off home much of the effects of inflation are tempered so the index computes us all as renting at rents based on 1539 seperate economies ,some up some down. right off the bat homeowners personal rates may be less than the cpi may reflect since housing costs are contained except taxes..
i know my sisters refinance left her so far behind what she used to pay that she has seen negative inflation in her personal cost of living.
i rent so i have seen more inflation in my personal costs than she has.
thinking these cola adjustments are going to reflect personal cost of living is a mistake.
Last edited by mathjak107; 10-07-2014 at 03:40 AM..
I received several comments on my statements about heating costs. My situation is special since I was able to convert from oil to natural gas. NG is much less expensive. Most houses in my area are heated by burning oil. That seems to be an out of date choice that needs to change. Regardless the cost of oil is way down from last year. I still have oil for my hot water heater and plan on buying a couple hundred gallons to last for another year. The cost is down about 15% from last year. I just returned from a 5 month road trip. I would guess I spent a $1000 less on fuel this trip versus what I would have spent with last year's higher prices.
Electric costs in my area are several times the national average and continue to increase. Even so there are some partial solutions. I have replaced all of my light bulbs with leds. Leds use about 20% of the cost of tungsten bulbs and less than half the cost of fluorescents. Even the cost of the bulbs is less since they last for years or even decades.
My point is simple. We pay attention to items that have gone up in price. Those increases may not reflect our overall increases.
I still think it's all manipulation. Big cats playing monopoly with real buildings.
That would make sense they would want a Dem victory seeing as how their profits have been sky high since they took over.
And the COLA does not factor in energy costs, I believe. Hence the paltry number.
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