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You did ask about ME. And the last bit is not about me - but all those who rent since home ownership is very low.
Why tie up so much money in a home? Interest rates are still low - put down 20%, take out a 30-yr fixed and invest the rest. As long as you don't turn around and sell in a downturn, you'll be okay. Home prices generally go up. Your 20% is leveraged (increase is on value of asset) and most don't pay taxes if they downsize later on or pass on to kids.
You did ask about ME. And the last bit is not about me - but all those who rent since home ownership is very low.
Well you can't answer for Avante so yes.
So apartment dwellers as well...
You don't pay taxes at all (except property taxes) on a resale for a higher amount if you've lived in it for 2 years. Or if you're a military vet with an honorable discharge.
Also, why put down 20% in a house you're going to live in? Having to pay $600 a year in private mortgage insurance is nothing compared to losing all that cash on hand. Cash on hand and cash flow are more important than real equity... you can't liquidate your equity for a fair price in an economic downturn, for instance.
Plus, PMI along with mortgage insurance and property taxes, are tax deductible. Principal and homeowners insurance is not.
Well, if you want to be technical, pay down 23% (iirc) and you don't need PMI. Of course, if you sell anything in a downturn, you're gonna lose.
It's 20 percent for no PMI, at least that's what my lender/realtor said last year
In a downturn you rent-out and be a landlord for a couple years and wait to bounce back. Rents usually hold pretty steady during downturns unlike home prices. Rent usually goes hand in hand with property taxes which don't usually go down much at all even in recessions, as they have more to do with things like school quality, urban sprawl of the area, etc.
Only time rents go down significantly is when something unforeseen happens like, major structures in the area are destroyed by fire/weather, a nuclear plant explodes in the vicinity Chernobyl style, or a power plant/toxic waste plant is built nearby. NIMBY stuff, but you don't see that a lot anymore.
Isn't E-verify going on nationwide?
Right now to work in a refinery, you have to pass a pretty thorough background check. About 10 years ago, most of the heavy duty jobs there were filled by illegals
cowboy spreading knowledge.
he knows his market.
It's not sticking it to the rich if you do that and then lower the top rates to more than offset any potential lost breaks.
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