The Corona Virus and investing the negative affects !

There is no feeling like you get the moment your house is free and clear.

 

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Looking forward to 2042 then !!!

 

We also have a mortgage free home. Now we just pay the rental fee to our uncle. Unfortunately that never ends. When we hit 65 we will receive a small reduction in that rent. Hopefully we never miss that rental payment or there will be a foreclosure.

Do we ever really own our property?

 

You do, as long as you fork over your property taxes, and maintain it (if you don’t you won’t be able to get insurance).

 

Hence the 'rent'

 

Ah, that 'Uncle'.

Edit... or is that "cousin", given that it's more local jurisdictions imposing property taxes?

 

If your uncle passes on, no more rent !!

Just kidding.....

 

And the 'rent' payment isn't the only indication that we don't own our property.

If I want to build an extension on my existing home I'll need to get permission through a building permit. And that might not be enough. I could possibly need a zoning variance.

If I want to make my home a home office for whatever profession I practice (law, medical, pottery, daycare, etc.) I'll need to get 'permission'.

How about add a pool? Yep, need approval.

Every step of the way we're reminded that we only have limited possession of the property we 'own'.

 

Rofl

 

When you all make a bundle. Don't forget the church and your favorite charity.

 

The money we pay our "local cousin" - is for him to maintain those amazing roads, schools, sewers, water, beaches, bike paths, and parks we enjoy so much and will enjoy more in retirement. He even throws parties in the town square with music on the weekends in the summer. Our cousin does darn hard work to keep all that up in our amazing little part of the world.

Its my damn "in laws" at the bank I have issues with - lazy good for nothing overpaid moneychangers. Six more years we wont have to invite them over each month to eat our lunch.

 

Not a discussion about what property taxes are used for. There's plenty of taxes levied upon us to pay for those things, and a whole lot more. The conversation was that we never ever own our homes outright.

 

While here in Missouri we got a bill passed where qualified seniors don't have to pay property tax. The bill's sponsor told me he didn't think seniors should keep on "paying" for their homes.

 

Some of these regulations were needed to prevent those that live like pigs from running FARMS on their suburban homes. Obviously the working class regulations Fees have grown to be out of hand, while Banking, Corp. and the RICH have much less regs.
All of this plays out in due time. That is where the problem arises, when were you born ? During which time in history did you live ? That is the difference between good and bad. Next 10 years, if you are not ALREADY prepared will be a PIA struggle from week to week. We already have 30% rent delinquencies, which will grow to at LEAST 50% May 5th.
Things will slow down during the summer, but very little fun will happen. Then the Fall will prove to be a thinking time, "how do I move forward in this" and then all of a sudden come 2021 the Vaccine, etc. will turn things around, cheer people up, but they will be broke.
Most people right now are just in a holding period. Lost as to how to handle this, what to do, what to think... Very Strange, but most of my close people are doing good.

 

SALT has forced many to move from about 10 states to states where it does not have an effect on you. NY too Florida, Conn. to FLorida, and so on. Must be repealed. Bad for the people

 

Maybe the high-tax states can start to live within their means ??

 

Agreed - the markets rebounded nicely after the 2008-2009 fiasco & they'll do so again later this year - an S&P 500 index fund is a good way to play the recovery (lots of good companies in there) - buy a little each month and get rich slowly

 

Yes those very high tax states are indeed bad for the people

 

Why should they? No one else does.

 

Touche !! But as a resident of a high-tax state, everybody really should.

The real problems are in the unfunded pensions. These states are going to have to file Chapter 9 bankruptcy IMO.