Republicans always inherit a good economy from the democrats then fuck it up with their tax give away to the rich. Dejavu America Dejavu http://www.soyouknow.info/blog/goptaxcut
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750K is a pretty good sized house--if Americans expect that then the sense of entitlement really has taken over.
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. 750k would buy you a big (700 sq ft) studio or one bedroom in Manhattan, maybe something slightly bigger in San Francisco.
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In the larger metropolitan cities that would be a median amount of money to spend on a nice living arrangement. For small towns that would be a lot of money so you have to weigh things out to really understand who is being affected here.
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. 1) You have to look at many factors when making certain decisions. A lot of people look at property tax rates and say they would never pay that much. Yet look at high SALT areas and you also find the best public schools in the country if not the world. NJ, MA, parts of NY, etc.
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. 2) Years ago a friend put it most succinctly: yes, we are paying $25K in property tax, but we have 4 kids and it would cost a minimum of $25K per kid to send them to private school. Plus people want to move here for the schools so property values stay high.
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. 3) I know people who settled in much lower property tax states only to find subpar schools, so instead of paying $20K to $30K in property tax they are paying $50K+ to send kids to mediocre private schools on top of their property taxes. Think of slippery slope ie Monsey NY.
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Owning a home shouldn't be financially incentivized, because that only leads people to buy homes they can't afford and shouldn't be buying. A home is an intangible investment in your future and your stability. It shouldn't EVER be a money grab.
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The fact that it's classified as an investment means that the person putting money into it should expect to make money off of it unless the home has been purchased at its maximized value. Therefore you get equity if you purchase at a lower cost. Not a matter of over purchasing.
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No, a home is not classified as an investment in any legal context. A home is not a financial investment. When the value of your home goes up and you refinance, you don't have to pay capital gains tax on the increased value of your asset. Homes are not financial investments.
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You do realize that there are many different forms of investments.
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Equity is gain from that investment.
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It's not an investment in any legal sense. The point is that you shouldn't be buying a home because you want to make money on your money. That's not what a home is for. A home is an investment in your stability, your security, your family, and your future.
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Should be tax deductions on medical expenses not mortgage interest.
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Blue states will be losing a lot of people and it is because they’re poorly governed.
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