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there's no doubt Gates is a smart fellow, but being a billionaire isn't about being smart. The deal that started the whole Microsoft juggernaut was done in secret for a reason.
For people earning $8/hr, the answer usually is more money, because in most North American markets, frugality won't get them into home ownership.
Yes, for people making $8 an hour, the answer to home ownership is more income, as they likely will never be able to afford a house at $8 an hour. This is part of the self-actualization process however, and owning the home would be the carrot at the end of the stick that would motivate a person to aspire to more than $8 an hour employment. It isn't an indictment of society that some making very low income cannot afford a major investment like a house, but rather basic common sense.
I cannot afford a mansion, but you don't hear me griping that software developers should be paid like rockstars because of the unfairness that I do not own a mansion.
The right to pursue happiness is not a guarantee that you'll ever catch it. So instead of flipping society upside down to make sure even poor folks can afford major investments like houses and all that, I'd suggest to the individual that they could self-actualize a bit more and go buy one of their own accord.
And you bring up this "people who make $8 an hour" thing like it's half the country. Among all full time hourly and salary workers, according the Bureau of Labor Statistics, less than 2% earn at or below the minimum wage, and the largest percentage by age is teenagers, and by profession is leisure/hospitality, where tips supplement the hourly wage. And the median income (as of 2011) of the country is $50,200, so says the Census Bureau.
Not only should a person making $8 hourly not own a home, they aren't really that much of the population. So why are they constantly referenced by you as if the entire economy and home buying market depends on them?
freemkt, you've been crying the blues about not being able to buy a home for along time now. I've been where you are at and I can sympathize, kind of. But if I kept crying the blues like you I would still be in the same place just like you. It was my fault, no one else's. My first step toward being able to buy a house is to realize it was up to me, not someone else.
No matter how much you make if you don't understand personal finance and know how to handle your money it won't do any good. I know someone who makes $300k a year and they were turned down by the bank when they went for a mortgage.
Shouldn't it be up to you AND property owners? If a property owner is willing to sell you a piece of property, shouldn't government stay out of the way?
In most North American housing markets, for most people earning $8/hr, personal finance competency won't get them into owning a home.
Shouldn't it be up to you AND property owners? If a property owner is willing to sell you a piece of property, shouldn't government stay out of the way?
In most North American housing markets, for most people earning $8/hr, personal finance competency won't get them into owning a home.
And you can do that once you get away from the city limits and all their zoning regulations.
I can chop up as much of my property as I want and sell it off.
I'm out in the county.
But when you choose to live in the city you have to live with their laws.
Yes, for people making $8 an hour, the answer to home ownership is more income, as they likely will never be able to afford a house at $8 an hour. This is part of the self-actualization process however, and owning the home would be the carrot at the end of the stick that would motivate a person to aspire to more than $8 an hour employment. It isn't an indictment of society that some making very low income cannot afford a major investment like a house, but rather basic common sense.
I cannot afford a mansion, but you don't hear me griping that software developers should be paid like rockstars because of the unfairness that I do not own a mansion.
The right to pursue happiness is not a guarantee that you'll ever catch it. So instead of flipping society upside down to make sure even poor folks can afford major investments like houses and all that, I'd suggest to the individual that they could self-actualize a bit more and go buy one of their own accord.
And you bring up this "people who make $8 an hour" thing like it's half the country. Among all full time hourly and salary workers, according the Bureau of Labor Statistics, less than 2% earn at or below the minimum wage, and the largest percentage by age is teenagers, and by profession is leisure/hospitality, where tips supplement the hourly wage. And the median income (as of 2011) of the country is $50,200, so says the Census Bureau.
Not only should a person making $8 hourly not own a home, they aren't really that much of the population. So why are they constantly referenced by you as if the entire economy and home buying market depends on them?
Millions earn between minimum wage ($7.25/hr/hr.) and $8, Almost half (48%) are 25 or older - hardly teenagers. There are probably another 2% or more who earn more than minimum wage only because they work in states with a higher minimum wage. One-fourth of all jobs in this country pay close to minimum wage, i.e. no more than $10 per hour.
Shouldn't it be up to you AND property owners? If a property owner is willing to sell you a piece of property, shouldn't government stay out of the way?
In most North American housing markets, for most people earning $8/hr, personal finance competency won't get them into owning a home.
I didn't say anything about government other than to say that don't expect them to help. So again, you are posting the same complaint but fail to do anything about it.
Millions earn between minimum wage ($7.25/hr/hr.) and $8, Almost half (48%) are 25 or older - hardly teenagers. There are probably another 2% or more who earn more than minimum wage only because they work in states with a higher minimum wage. One-fourth of all jobs in this country pay close to minimum wage, i.e. no more than $10 per hour.
Where on earth do you get these numbers? According to the BLS (2012 numbers), only 3% of employed persons make minimum wage nationwide.
There are tiny houses in Dwell magazine all the time. Maybe you can convince someone to sell/make a barter deal on a little piece of their land. You couldn't do it in the city;it would be way too expensive. There are lots of sites about that stuff.
And you can do that once you get away from the city limits and all their zoning regulations.
I can chop up as much of my property as I want and sell it off.
I'm out in the county.
But when you choose to live in the city you have to live with their laws.
??? When you're living on or near minimum wage, you probably can't afford a car, which means you probably can't afford to live in the country. Recently I found a Brookings paper about worker cost tradeoffs between housing (i.e. rent) and transportation (commuting). This has long been an interest of mine, as for some years I have entertained the notion that the lower working class is slowly being squeezed between unaffordable housing (which drives them to seek cheaper rents further away from their jobs) and the costs of longer commutes.
Turns out, according to Brookings, that this tradeoff generally does not succeed for low-wage workers because the increased commuting costs exceed the rent reductions achieved by moving further away from their jobs. For those without cars. commuting to work from a rural home generally isn't even an option.
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