Steel Valley Football;1252893 wrote:There is no future for the USA. Father China will save us all someday.

sleeper;1252882 wrote:http://www.theatlantic.com/magazine/archive/2012/09/the-cheapest-generation/309060/

Essentially this article demonstrates that my generation is adapting to the reckless entitled selfish boomer generation by being smarter with their money. Pretty much destroys the arguments that the selfish boomer generation worked hard for the things they got; mostly they got stuff handed to them for their whole lives with cheap credit and borrowing from the future. The boomers enjoyed the lowest tax rates and the lowest mortgage rates ever in history and ran this country into the ground. This article gives me hope that our generation will fight through adversity and hardship left and generated by the worst generation(the boomers) and bring the United States back to its rightful place at the top.

wkfan;1252906 wrote:Really? So my first mortgage rate of 12.5% was the lowest in history?

Automatik;1252904 wrote:Once the boomers start to fade religion will go with it and brighter days will come. :thumbup:

sleeper;1252911 wrote:Real interest rate was probably like 1%. Thanks for running the country into the ground; but it's okay though because you chose to buy a house at a ridiculously high interest rate. I'd suggest renting, but you'd just tell me that you are entitled to owning a home.

sleeper;1252912 wrote:Religion is going to outlive the boomers unfortunately. But the elimination of religion will happen in my lifetime and you can take that to the bank.

Pretty much destroys the arguments that the selfish boomer generation worked hard for the things they got; mostly they got stuff handed to them for their whole lives with cheap credit and borrowing from the future. The boomers enjoyed the lowest tax rates and the lowest mortgage rates ever in history and ran this country into the ground.

Steel Valley Football;1252905 wrote:There is no future for your soul. God will see to that.

wkfan;1252914 wrote:Please...if you are as smart as you say you are (and you are not), you would know that the going rate for home mortgages in 1980 was in ther 12 - 13% range withan APR in the 13's. My amortization schedule called for me to pay approximately $5 per month toward principal....the rest went toward interest.

Real interest rate 1%.....right.

vball10set;1252921 wrote:sleeper, this thread begs me to ask...do you suffer from DID, or are there other people in your ward posting with your username? On one thread you'll post an intelligent and lucid thought, and then you turn around and make an idiotic statement like this.....smh

Steel Valley Football;1252918 wrote:A change in deity is not "elimination" of religion. That's the next step.

sleeper;1252934 wrote:Idiotic?

vball10set;1252948 wrote:Did I stutter?

mucalum49;1252946 wrote:Reps for the article Sleeper. I can relate a lot. Unfortunately my 8 year old car died last year so I have a payment now mainly because Zipcar doesn't exist where I live. If I was in Chicago or NYC I'd definitely use that. But the rest of it, I rent near a train stop just outside the city and we have a bike share station as well. The only place I drive is to play golf or work. My area is full of people in the same age range (22-35) and it's great, almost a college like atmosphere again.

I would like to buy someday but what wasn't mentioned in the article was job stability in this economy. No matter how great I am at my job, our company has a reputation of a "serial restructurer" and with the corporate HQ only 3 hours away there are always rumors about consolidating down in ATL. Too much uncertainty in the world these days to take the risk of buying.

sleeper;1252935 wrote:Good point. The only true way to eliminate religion is to eliminate the poor and stupid. These are not easy tasks.

sleeper;1252911 wrote:Real interest rate was probably like 1%. Thanks for running the country into the ground; but it's okay though because you chose to buy a house at a ridiculously high interest rate. I'd suggest renting, but you'd just tell me that you are entitled to owning a home.

Go4alOngbOmB;1252997 wrote:Umm, I own a really nice home. I just shopped and got a great deal on it....and I pay less on my mortgage monthly, (with house insurance, property tax and everything included in the payment) than most people pay in rent a month. To rent a home the size in which I live, would easily cost me 300-400 more than my mortgage is currently.

sportchampps;1253132 wrote:A few years ago when I went back to school to finish up the last couple classes I had before I could get my CPA I took a finance class that focused on financial investments. We actually did a large project on the rent vs buying a home discussion. We looked at about 20 different markets mainly large city's and suburbs. In the study we took into account inflation deflation risk ( losing a job or being relocated, losing a home completely, divorce) and we learned that buying a home in 19 out of the 20 markets was the better choice. It usually with everything factored in saved you between 2.5 - 15 percent a year. We also found in most areas homes were undervalued by about 2 percent as a whole after the collapse of the housing market.

I also know a couple ( wife is a real estate lawyer and husband is a accountant) who completely used the system. The husband bought a house in his name using only his credit with only 1 percent down. They lived in the house 3 years without making a single payment before it was reposed from them. During these three years they saved all their cash up and when they were kicked out used the cash to buy a house outright. So basically they ruined his credit but lived three years rent free in a 200000$ house and since they both make big bucks didn't need credit to buy their next home. I figure the home they loved in for three years woulda rented for at least 1500 a month so they saved 50 k with no real punishment. Their an example of why the system needs fixed.