The OFFICIAL Hillary Comeback Thread!

[finnbow]

Originally Posted by Tom Joad

Home mortgage deduction?

I have never once used it in my entire life.

That's for rich people.

Or idiots that over extend themselves by buying a house they can't afford.

You're the idiot if you've never used it, methinks. Long term home ownership is how a huge number of Americans build their nest eggs.

[Tom Joad]

I don't know why Bernie doesn't bring out the fact that there are already 52 million people in this country that have single payer. It's called Medicare. And it covers the most expensive people in our country. Old Farts and the disabled.

If we can afford to cover them, we can certainly afford to cover the younger non disabled. Especially when we eliminate the blood sucking middlemen Insurance Companies.

http://www.ncpssm.org/Medicare/MedicareFastFacts

[Tom Joad]

Originally Posted by finnbow

You're the idiot if you've never used it, methinks. Long term home ownership is how a huge number of Americans build their nest eggs.

I've been a home owner since 1978.

Don't have a mortgage on my current home.

Never saddled myself with one that was big enough have me paying enough interest to itemize deductions either.

Never did see the value in paying interest out the ass to rent money.

That's for losers.

[finnbow]

Originally Posted by Tom Joad

I've been a home owner since 1978.

Don't have a mortgage on my current home.

Never saddled myself with one that was big enough have me paying enough interest to itemize deductions either.

Never did see the value in paying interest out the ass to rent money.

That's for losers.

Depending on where you live, your choices have cost you hundreds of thousands in foregone capital appreciation.

[nailer]

Originally Posted by finnbow

Depending on where you live, your choices have cost you hundreds of thousands in foregone capital appreciation.

I'd bet a sawbuck that most of those who don't do it TJ's way spend, not invest, the additional down payment money he's invested in real property.

[Rajoo]

And TJ probably has less Gaithner lines and wrinkles.
Disclaimer: I am mortgaged to the hilt.

[finnbow]

Originally Posted by nailer

I'd bet a sawbuck that most of those who don't do it TJ's way spend, not invest, the additional down payment money he's invested in real property.

My point was that, in most metropolitan areas, if one deliberately buys a home so inexpensive that they can't itemize deductions, they bought too little house (or not in a nice enough neighborhood) to maximize capital appreciation potential. This assumes, of course, a steady income in a decent metro area.

[nailer]

Originally Posted by BeamOn

And TJ probably has less Gaithner lines and wrinkles.
Disclaimer: I am mortgaged to the hilt.

I can attest that it's nice owning a homestead.

I've a good friend who is mortgaged to the hilt too. His borrowed money is being put to work in his business. He's got a nicer house, higher income and is worth significantly more than I. I have cooler (more expensive) toys, a lot less stress and better health.

TJ gives his Gaithner lines and wrinkles to others.

[nailer]

Originally Posted by finnbow

My point was that, in most metropolitan areas, if one deliberately buys a home so inexpensive that they can't itemize deductions, they bought too little house (or not in a nice enough neighborhood) to maximize capital appreciation potential. This assumes, of course, a steady income in a decent metro area.

You can't maximize potential. People who maximize potential perceive their luxury cars and high-end home theatre systems as investments. And my point still applies to your assumption in that I own a home in a nice Dallas neighborhood and the people I know , e.g. my former GAO colleagues, have steady jobs. Your argument is that of a real estate agent.

[Tom Joad]

http://national.deseretnews.com/arti...tudy-says.html

Home mortgage interest deduction helps the rich, study says

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