If someone bought a 1m house, and paid monthly payments at current rates, he would pay over $800,000 just in interest. Yes, they're "low" but it's an oppression.
Come to Denver. It's really hard to be sympathetic to healthy adult men in their 20s and 30s who hang out and smoke.weed all day and have the balls to ask for money while the store behind then has a sign "Help Wanted, starting $15/hr."
Then there are the prentend homeless who fake it and just ask for money. These are the genuises who beg for money with an iPhone in their hand and a nearby backpack of food and spare battery packs to rechardr said phone.
They pretty much ruin the will of the community to provide enough mental health Care and drug abuse treatment and job placement / retraining programs that would benefit the rest.
Still are.No kidding. Can buy a one way ticket to liberal paradise. Then lay around on the beach all day. They were thick on Oahu.
I want you to re-read what you just posted, and try again.
If they aren't motivated, or lack knowledge.....they aren't due SHIT! If you want it, you have to go get it.
I'm so ****ing tired of people thinking they're owed something when they won't help themselves.
FICA? You mean for Social Security and Medicare.... which BENEFIT everyone later in life?
Property taxes? You mean to fund things like local schools? Sales Taxes? You mean to fund things like the police, etc.? Do you realize that both of these things pay for infrastructure and services that increase the value of this oppressive home you just purchased?
And the NPV of that interest is 25% of the principal value of the house... and the people actually getting the benefit of LIVING in the house only put up a 20% deposit, in your example. Also, assuming 4% rate of appreciation over 30 years in that home = $1MM home today is $2.2MM home in 30 years. The bank made $800k and you made $1.2MM. 50% more than the bank made! Math is fun!
"They know all the tricks?" Like maybe read a book or check out the internet youself. There are no "tricks." There's laws and contracts. They're all written down for ayone to read.
And people who don't have a computer can go to a public library (you know, the ones paid for by income taxes, property taxes, and sales taxes) and use a computer that can access the internet, for free! Even if you're a homeless bum who pays zero income tax or property tax and likely only pays sales tax on cigarettes and booze you can still use the computer at the library for free. The library usually enen has free classes on how to use a computer if one doesn't even have that level of knowledge.
You honestly can't expect the homeless to learn about all of the tax credits they're entitled to.
No more than you can expect the government to search them out and hand them a refund check.
Lol check your fun math. You pay out 1m plus 800k equals 1.8m. Would love to see how much your capital gains tax would be on a 2.2m sale. Any buyer is going to pass on a 30 year house when they can build something brand new for cheaper.
$2,200,000 minus the $1,000,000 purchase price leaves you $1,200,000 then you get a $500,000 exemption if your married and lived there 2 years. Gets you down to $700,000 taxable (assuming you did no upgrades to the house) at 20% or $140,000 in federal tax
And any buyer comment is not true, house on the other side of my neighborhood sold for 1.7 million while the lots next to it are for sale. Some people just dont want to deal with building.
800k of interest is a cash outflow. Throw in property taxes and PMI fees and you pay way more to the bank and city hall than you paid for the house.
They don't have to charge people these types of fees, but they get away with it.
They search out all those that don't pay taxes. Why can't they hand out refund checks?