Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Of course. NC HOMEOWNERS pay property tax. The banks don't pay for homeOWNERS.
I pay homeowners insurance premiums, too. The banks don't pay them, either, for homeOWNERS.
But, an exception?
How many people do you know who tell folks to "Get off the bank's front porch?" I would submit that it likely isn't very many.
No but that's intellectually honest and even after the house is "paid for", you could say get off the cities property, as you can never actually own real estate in 95% of the USA.
Status:
"Made the Retirement Run in under 12 parsecs!!!"
(set 28 days ago)
Location: Cary, NC
43,191 posts, read 76,875,642 times
Reputation: 45539
Quote:
Originally Posted by pittsflyer
No but that's intellectually honest and even after the house is "paid for", you could say get off the cities property, as you can never actually own real estate in 95% of the USA.
No.
I own my property.
I really do, all beer talk aside.
No.
I own my property.
I really do, all beer talk aside.
That's rare, most locals have property taxes and it does not matter if you lost your job or someone died they can and will take your property, thus you don't really own it. Anything that can be foreclosed on or otherwise taken due to non payment means you don't really own it.
There are SOME areas of the nation where you don't have property taxes, some parts of Alaska are one and I would wager there are some portions of appilatia that don't (where you might live?). But that's not typical.
So if you truly own your home then count yourself lucky, most of us have compulary payments and will have forclosure if said payments are not made and some locals the taxes are non trivial. So if I bought a nice home during a time when I was making good money, got it paid off and then wanted to take some 20/hr week govt job for low pay I may not be able to make the taxes.
So if I bought a nice home during a time when I was making good money, got it paid off and then wanted to take some 20/hr week govt job for low pay I may not be able to make the taxes.
Wow, where the heck do you live ? I just figured what I would have to make an hour working 80 hours a month to pay my real estate tax and it's $2.18 .....
Status:
"Made the Retirement Run in under 12 parsecs!!!"
(set 28 days ago)
Location: Cary, NC
43,191 posts, read 76,875,642 times
Reputation: 45539
Quote:
Originally Posted by pittsflyer
That's rare, most locals have property taxes and it does not matter if you lost your job or someone died they can and will take your property, thus you don't really own it. Anything that can be foreclosed on or otherwise taken due to non payment means you don't really own it.
There are SOME areas of the nation where you don't have property taxes, some parts of Alaska are one and I would wager there are some portions of appilatia that don't (where you might live?). But that's not typical.
So if you truly own your home then count yourself lucky, most of us have compulary payments and will have forclosure if said payments are not made and some locals the taxes are non trivial. So if I bought a nice home during a time when I was making good money, got it paid off and then wanted to take some 20/hr week govt job for low pay I may not be able to make the taxes.
You speak from a perspective of paucity and weakness.
I speak from a perspective of abundance and confidence.
I pay taxes, and I own my home. My car is white, and I own my home. My wife's car is red, and she owns our home. I know this, and your quibble/beer talk about not owning is of minimal concern, and even lower credibility.
Never understood the obsession with home ownership. First of all, you don't own the home until its fully paid off. The bank does. Until then you're making payments towards it just as you would when you finance a vehicle. Secondly, even after you pay your home off you still have rising property taxes to pay. Try not paying property tax and see how much you "own your home".
I personally am in the process of purchasing a condo because where I reside, the costs of renting a 2br apt is on par with what a mortgage for a 2br condo would be. Makes financial sense for me. It's affordable with very little maintenance to worry about.
It's not really comparable to financing a car at all. In the majority of cases a car is a depreciating asset and a house appreciates. I bought my house 8 years ago. While I still owe on a mortgage but my equity stake is at 50-60% based on current market values. If I chose to move and rent I could pocket a large amount of money. If I bought again I would have a sizeable down payment.
I bought my car with a loan 9 years ago. Today it's probably worth 20% of its original value. Homeownership and vehicle ownership are not at all the same.
Do I own my house 100%? No. But I own enough that if I choose to move I can come out ahead. Much different from renting.
No but that's intellectually honest and even after the house is "paid for", you could say get off the cities property, as you can never actually own real estate in 95% of the USA.
That's a reasonable compromise most of us make to live in a society. I like knowing that if my house is on fire I can call the fire department, that my kids have a public school to attend, that we have parks to visit, and that my garbage is collected weekly.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
