" I own a home"

[R.E.N. Spells Ren]

I know exactly how much is paid in taxes where I live, because I pay them

ive taken the time to calculate, that it would cost the about the same to rent a room here year round, as it would to pay the annual taxes..

once again, the point of the thread was that all these people claiming to "own" a home.. DON'T

either the bank really owns it and you're paying on it, or the government will come and take it as soon as you can't afford the taxes. that's not true ownership

Not a comparable living situation, you won't.

And borrowing to pay does NOT mean the bank owns the property. You guys are either ignorant or purposely misconstruing the meaning of ownership.

This "the government will take it if you don't pay taxes" argument is beyond horrendous.

 

[Marl0 Stanfield]

Breh not on Long Island the taxes alone got you in a choke hold

Jfc you shop where you can afford to shop. Mfkrs acting like children, like invalids who can't move from place to place. Just cuz a mfka grew up in Beverly Hills don't mean he can afford to live there on his own. Otherwise everyone would spend their entire lives in one place.
U wouldn't look to purchase luxury items without the capital to afford them with all contingencies accounted for. The higher the taxes, the more the city has to offer, not only in arts n entertainment n education, but in business opportunities also.
Look at taxes as a price of admission or a key to the city, so you can make 50 times that and retire somewhere with lower taxes. U can't stunt with a ballin ass Long Island home and not be out getting it and sweating the price of admission.

 

[CouldntBeMeTho]

Not a comparable living situation, you won't.

And borrowing to pay does NOT mean the bank owns the property. You guys are either ignorant or purposely misconstruing the meaning of ownership.

This "the government will take it if you don't pay taxes" argument is beyond horrendous.

go ahead and stop paying taxes on your property then

look man, ownership of property is a good thing. and there are definitely advantages. my whole point is, do we really own it? I'd say no, we really fukking don't.

 

[BaldingSoHard]

And borrowing to pay does NOT mean the bank owns the property. You guys are either ignorant or purposely misconstruing the meaning of ownership.

This "the government will take it if you don't pay taxes" argument is beyond horrendous.

Well said on all points.

 

[cleanface coney]

33% of those owner-occupied housing units doesn’t have any mortgage left to pay.

link

That number would likely be higher if people didn't take 2nd mortgages

i wasn't using that number as 100 percent facts my bad i forgot y'all be looking up articles n shyt

you can argue your point and i can argue mine

but from my experience, most people are not gone pay off their home

 

[BaldingSoHard]

go ahead and stop paying taxes on your property then

look man, ownership of property is a good thing. and there are definitely advantages. my whole point is, do we really own it? I'd say no, we really fukking don't.

Then who owns it? The government or the bank?

 

[R.E.N. Spells Ren]

go ahead and stop paying taxes on your property then

look man, ownership of property is a good thing. and there are definitely advantages. my whole point is, do we really own it? I'd say no, we really fukking don't.

You don't get it...It's stupid logic to say you don't own a property because the government can take it if you don't pay taxes. Stop paying (or even just stop filling taxes) and they can go after your assets. That doesn't mean they're not your assets.

 

[Panther]

More than likely your children will sell the home and fight over the money after, nobody here is buying some vast estate that will accrue massive amounts of equity, people are buying median homes and acting as though they're gonna end up the Rockefellers

Ownership of a business or land I agree with, building wealth via owning a home is not where it's at.

This.... The best thing to do would be to pay off a home in like 10 years ( or pay cash outright ) but people think that because they can get a house for the same amount as renting that its the smarter thing to do, but in most cases its not true, especially when you factor in interest on a typical 30 yr mortgage.

Also you could make more money by taking that "mortgage payment" and putting that in mutual funds or an index fund over the same timespan in most cases but hey what do i know

 

[Kamikaze Revy]

Where do you live?

Virginia

 

[BlackBall]

My boy just paid bought a house, when I asked how much of a down payment he put down for it,

he was like

I bought it Cash..... $680,000





I was like

gah damn you're stupid

a lot of people I know have there property paid of at 34.

you can make money of your property before its even paid off, Ive done this, and so have friends that have made up to 200k

be a renter and pay someone elses mortgages brehs

nikka im paying a mortgage on my home

 

[R.E.N. Spells Ren]

This.... The best thing to do would be to pay off a home in like 10 years ( or pay cash outright ) but people think that because they can get a house for the same amount as renting that its the smarter thing to do, but in most cases its not true, especially when you factor in interest on a typical 30 yr mortgage.

Also you could make more money by taking that "mortgage payment" and putting that in mutual funds or an index fund over the same timespan in most cases but hey what do i know

Huh?

 

[CouldntBeMeTho]

You don't get it...It's stupid logic to say you don't own a property because the government can take it if you don't pay taxes. Stop paying (or even just stop filling taxes) and they can go after your assets. That doesn't mean they're not your assets.

YES, it does

 

[R.E.N. Spells Ren]

YES, it does

Ok, you don't own the clothes on your back nor the computer/phone you're using to type these silly posts.

 

[CouldntBeMeTho]

Then who owns it? The government or the bank?

the governments work hand in hand with banks, and you're in here giving financial advice

 

[BaldingSoHard]

the governments work hand in hand with banks, and you're in here giving financial advice

I honestly can't tell if you're being serious.