Once again I fall back on those scary-famous words uttered by Reagan, "I'm from the government and I'm here to help." I wish there was a way to get the government accountable. I also wish that there was a way to de-fang HUD. I've never been impressed going back to late 80's.
if paying rent is an expected part of the American Dream, the dream is dead.
you can't retire while on the hook for a huge monthly existence fee just to keep a roof over your head.
hell, the municipal corporation I'm working to escape control by, currently charges $100/month in "property tax" extortion to not sell my title and it goes up almost every year. while the amount isn't prohibitive to obtain, its $100 more than I should have to pay a third party "person" (incorporated entity) for the privilege of retaining property already paid for. and that's minor compared to rent.
I'm bailing back to an unincorporated area to have a small chance at that American Dream. my house, my land with my garden, and no citizen-fu*king government micromanagement over: my grass height and lawn/shade/aesthetic/food vegetation species, my own vehicles parked on my own private property being forced into contract with the State while unused (license plates) to avoid towing confiscation by unelected bureaucrats being paid 2-4x state minimum wage, what materials my privacy fence is allowed to be made of AND its overall aesthetic appearance, what freaking ANGLE and surface material I'm "permitted" to park my vehicles at on my own private property, what trash pickup service (including none) gets my monthly money instead of the City monopoly payments mandated by fine-carrying statute, etc.
life in the City destroys the American Dream on several levels for me being someone brought up in the countryside who enjoyed it out there.
and I actually have a place to live that's not a rental. but considering the fining/arrest/title confiscation powers of the City-As-HOA (without any consent by the ruled) and how much control over private property they effectively have within the area they claim as their domain, it might as well be a damn rental.
I'm too old for that crap, and I'm not renting anything again unless it's temporary parking for a recreational vehicle I'm living in.
It's amazing that Congress and the Senate cannot pass legislation that allows for indexing for inflation any gains from homeownership. Many homeowners (especially boomers) have "gains" that exceed the $250K (for singles) or $500K (for couples) limitation for sheltering from taxes. It's bad enough that homeowners are experiencing increasing property taxes because of their home values going up from inflation, but to have to pay federal and (usually) state taxes upon selling because of a "gain" that includes inflation, that is an additional burden that many homeowners cannot afford. Adjusting the home-sales gain to account for inflation, as is done for income, would free up quite a few larger homes for the younger generations and help stabilize the marketplace by increasing supply.
Seniors used to have a one time no capital gains sale of their house provision. My parents used that senior benefit when they downsized into their final affordable private home that they lived in until they died. Greedy congress eliminated that senior benefit.
It is becoming abundantly clear that taxes are government's lifeline. As is often said we don't have an inflation problem, we have a spending problem. This is particularly (and painfully) true in California where collusion runs rampant and recent legislation is either to raise taxes or block journalists from reporting fraud and waste. Boomers are under constant attack trying to protect what they worked for. It's no wonder younger generations have little faith in what we believed in and the unrepentant over-reach of a fiscally irresponsible government.
This is very valuable data...always appreciated for its comprehensive detail!
May I suggest an alternative search...especially geared toward the current generation grappling with these issues?
Consider taking a series of inexpensive Amtrak treks across the southern, midwest and northern tiers of the country.
Really SEE the vast expanses, the obvious unsung opportunities...as well as the build-up of homelessness throughout the country...which SHOULD NOT BE!
Let your mind roam beyond the 'norms' which are often designed to lead to failure and poverty.
Consider things like Resident-owned communities...similar to Employee-owned businesses, which are rather simple entities that guarantee autonomy, safety and affordability. Resident-owned communities exist for the 55+ crowd, but they are really needed for young families and others of this generation.
Once again I fall back on those scary-famous words uttered by Reagan, "I'm from the government and I'm here to help." I wish there was a way to get the government accountable. I also wish that there was a way to de-fang HUD. I've never been impressed going back to late 80's.
if paying rent is an expected part of the American Dream, the dream is dead.
you can't retire while on the hook for a huge monthly existence fee just to keep a roof over your head.
hell, the municipal corporation I'm working to escape control by, currently charges $100/month in "property tax" extortion to not sell my title and it goes up almost every year. while the amount isn't prohibitive to obtain, its $100 more than I should have to pay a third party "person" (incorporated entity) for the privilege of retaining property already paid for. and that's minor compared to rent.
I'm bailing back to an unincorporated area to have a small chance at that American Dream. my house, my land with my garden, and no citizen-fu*king government micromanagement over: my grass height and lawn/shade/aesthetic/food vegetation species, my own vehicles parked on my own private property being forced into contract with the State while unused (license plates) to avoid towing confiscation by unelected bureaucrats being paid 2-4x state minimum wage, what materials my privacy fence is allowed to be made of AND its overall aesthetic appearance, what freaking ANGLE and surface material I'm "permitted" to park my vehicles at on my own private property, what trash pickup service (including none) gets my monthly money instead of the City monopoly payments mandated by fine-carrying statute, etc.
life in the City destroys the American Dream on several levels for me being someone brought up in the countryside who enjoyed it out there.
and I actually have a place to live that's not a rental. but considering the fining/arrest/title confiscation powers of the City-As-HOA (without any consent by the ruled) and how much control over private property they effectively have within the area they claim as their domain, it might as well be a damn rental.
I'm too old for that crap, and I'm not renting anything again unless it's temporary parking for a recreational vehicle I'm living in.
It's amazing that Congress and the Senate cannot pass legislation that allows for indexing for inflation any gains from homeownership. Many homeowners (especially boomers) have "gains" that exceed the $250K (for singles) or $500K (for couples) limitation for sheltering from taxes. It's bad enough that homeowners are experiencing increasing property taxes because of their home values going up from inflation, but to have to pay federal and (usually) state taxes upon selling because of a "gain" that includes inflation, that is an additional burden that many homeowners cannot afford. Adjusting the home-sales gain to account for inflation, as is done for income, would free up quite a few larger homes for the younger generations and help stabilize the marketplace by increasing supply.
Maybe we need a Republican Senate, 60 votes.
Can we ever get that with all the TDS and the RINOs?
Seniors used to have a one time no capital gains sale of their house provision. My parents used that senior benefit when they downsized into their final affordable private home that they lived in until they died. Greedy congress eliminated that senior benefit.
It is becoming abundantly clear that taxes are government's lifeline. As is often said we don't have an inflation problem, we have a spending problem. This is particularly (and painfully) true in California where collusion runs rampant and recent legislation is either to raise taxes or block journalists from reporting fraud and waste. Boomers are under constant attack trying to protect what they worked for. It's no wonder younger generations have little faith in what we believed in and the unrepentant over-reach of a fiscally irresponsible government.
This is very valuable data...always appreciated for its comprehensive detail!
May I suggest an alternative search...especially geared toward the current generation grappling with these issues?
Consider taking a series of inexpensive Amtrak treks across the southern, midwest and northern tiers of the country.
Really SEE the vast expanses, the obvious unsung opportunities...as well as the build-up of homelessness throughout the country...which SHOULD NOT BE!
Let your mind roam beyond the 'norms' which are often designed to lead to failure and poverty.
Consider things like Resident-owned communities...similar to Employee-owned businesses, which are rather simple entities that guarantee autonomy, safety and affordability. Resident-owned communities exist for the 55+ crowd, but they are really needed for young families and others of this generation.
"owning a home, retiring early, and becoming financially independent are harder to reach"
The article establishes that owning a home, etc are not the goal of those younger than boomers.
It is expected that if it is not a goal, it will not be reached. No surprise or useful data here.
(I'm 82. Money was not my goal and guess what. I'm not complaining. I was aware of my choices.)