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RE: WHEN THE INCREDIBLE BECOMES UNIMPORTANT – Lamenting the Obvious Disconnect of Modernized Civilizations and Possibly Losing $324,000
Wonderful post @papa-pepper. I see that there is a big movement for people to not own things now too, rent everything - have nothing to show for it in the end. You see it all over, don't own a vehicle - rent it. Don't own a home - rent one, and so on.
They say how that gives you freedom because you are not tied down, to me it is just another step towards slavery.
It is a sad scheme, even "mortgage" means "death-grip" and will cost you way more in the end.
People are free to choose, but I hope that we can start choosing wisely.
Check out the post today from @krnel for some more great ideas along with line of thought.
I was in that thought camp as well for a while, but if the whole thing is going to go down again the ownership is not prudent. The ROI can disappear in a blink and property taxation will skyrocket. Even having a property bought and paid for is no guarantee... you must look at what and how change is occurring, it's general trend and hope on timing it well.
I agree, Kyusho. I will not spend a lot on a nice house as I may leave the USA someday if we keep heading towards communism. Why build a garden when the government will steal your land? So now I stay mobile.. building my gardens and saving my seeds and prepared to take it all with me in the blink of an eye.
Allodial vs feudal land rights - we lost allodial rights in the US a long time ago. We're all serfs now.
I completely agree that "bought and paid for" property in no guarantee.
For now though, ownership gives one opportunity, and that is what I would like, opportunity.
I had some fine fixins a beach house (sold due to increasing taxes, insurances, and being a target (lawsuit or robbery), a Porsche or two, etc. I got hit in 2008 but hung on to the property... sold the Porsche/s as they were just targets (foolishly I used to collect my rents in my low income properties in that... talk about a stupid thing to do). I also sold those as well, bought after 2008 crash for pennies on the dollar, now I am awaiting the next paradigm shift to find out where I will park my old carcass and or what to invest in. But yes you are correct the tax breaks for property are still beneficial... wish I still had me some of that.
Wow... rolling with the punches of life.
Yeah I've been punched a lot... that's why I'm in the business I'm in.