IHB News 5-26-2010

May 29th, 2010  
by IrvineRenter  in News

Astute Observations

Astute Observation by newbie2008
2010-05-29 11:03 AM

1.6 million can get 4 houses in most areas of the USA with similar amenities.

On wage and price inflation, most people are happen when both wages and prices move up in sink.  I’m not one of them.  Tax rates are not adjust to the inflation.  Most people were paying under 3% income taxes in the early 1900’s when income tax became permanent, now the average is ~30% plus SSI/Medicare.  Just another govt scam to tax without taking a direct vote on the tax increase and to transfer wealth without permission.

The power to tax is the power to destroy.

Let those who complain that the taxes are too low voluntary contribute instead of spending million to ligate in paying less.

Reply to this astute observation
Astute Observation by tonye
2010-05-29 12:42 PM

I’ve never understood why a “Tuscan” home would have a “casita”.

A “casita” is a spanish term for a little house. Hardly what the Tuscans would call a little house outside their main door… most likely the Tuscans would call that it a “casolare”.

However, I guess they would call it “cane di casa” or if they were rich, “stalle”.  Someplace to keep the dogs or horses, respectively.

Personally, I’d rather have a Etruscan of Roman Villa with a place to park the trireme and plenty of barracks to house my praetorian guards.

Is the median for 92603 really 2MIL?

Reply to this astute observation
Astute Observation by alan
2010-05-29 02:15 PM

Cases like this should make us stand up and demand our government demad at least 20% down be the norm and higher for over the conforming limit.  If this buyer had been forced to put 25% down he could only have financed $1.35 Mil.  $1.35 Mil should be the maximum allowed financing on $1.8 Mil - no HELOC allowed above 75%.  If he really had that much skin in the game he would never have defaulted by choice unless he really lost the money.

Reply to this astute observation
Astute Observation by newbie2008
2010-05-29 06:24 PM

Alan,
If the govt required 25% down instead of the current 3.5% down, the house prices would drop and the market to fantasy would be very clear.  Now with 3.5% down, it better than renting.  Just “buy” the “home” with over bidding and 3.5% down less the $10000 CA tax credit.  Stop paying if the market goes further down.  Squat for 2 years.  So with only 3.5% down vs. 2 years of rent at 24 * 5,000.  $63,000 - $10,000 = $53,000 buying vs. $120,000 renting.

Reply to this astute observation
Astute Observation by Anonymous
2010-05-30 12:19 PM

Interesting Prop 13 article

Tax burden falls to homeowners, not businesses, in Prop. 13’s wake

http://taxdollars.freedomblogging.com/2010/05/28/tax-burden-falls-to-homeowners-not-businesses-in-prop-13s-wake/58109/

Reply to this astute observation
Commenting is not available in this channel entry.

<< Back to main