DU Retirement/Real Estate Seminar

[zeitgeist]

This thread is really hilarious featuring several well known DUmmies going at each other. 

Potato math and math for mathmagicians abound for the student of the obtuse DUmmy angles

 https://www.democraticunderground.com/10029418807

  Zorro (7,475 posts)

Trump weighs slashing one of the most popular tax deductions

The Trump administration is trying to figure out how to pay for tax cuts, and one of the ways it’s considering is getting rid of the mortgage-interest deduction for homeowners, Politico reports.

Unlike rent payments, the interest for a mortgage payment can be deducted from taxable income. It’s a major benefit of owning a home, and critics have pointed to it as a huge driver in American inequality.

At a White House roundtable, led by National Economic Council Director Gary Cohn, featuring people in the real estate industry, the topic came up. One attendee told Politico that the tax break was “on the table,” as the administration works on taxes, something Cohn had told Congress before.

As Matthew Desmond, author of “Evicted: Poverty and Profit in the American City,” wrote in May, it’s actually one of the main entitlement programs in the United States. “But by any fair standard,” Desmond wrote in the New York Times, “the holy trinity of United States social policy should also include the mortgage-interest deduction — an enormous benefit that has also become politically untouchable.”

https://www.yahoo.com/news/trump-weighs-slashing-one-popular-tax-deductions-182402330.html

I say go for it, Donnie. What have ya got to lose?
14

      
 

pnwmom (84,477 posts)
16. In Seattle our first home with 1200 square feet and a partial basement

is now valued at $772K, according to Zillow.

We paid $80K for it.
Reply to this post

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Response to pnwmom (Reply #16)Sun Aug 6, 2017, 07:50 AM
Star Member MoonRiver (28,934 posts)
31. That's a sweet investment for you!

We've been in the Midwest for 26 years, and housing values barely budge.

It gets better from this bit of snark. This was just the warning shot across the bow. 

Row over and have a gander.   

[Skul]

DUmmy said "first" home, implying it was sold or repoed a long time ago.
Said primive probably rents a basement now. 

[tuolumnejim]

Yoy know this is kind of funny, I did a zillow search in Seattle for a 1200 sq. ft residence and only two came up. There is also only one with any type of basement and it says 150 sq. foot finished, oh it's estimate is 525k.

pnwmom (84,477 posts)
16. In Seattle our first home with 1200 square feet and a partial basement

is now valued at $772K, according to Zillow.

We paid $80K for it.
Reply to this post

Now if you want to see an investment I would have loved to get check this out. I would screw those Frisco libs so hard their heads would spin right off. 

SF Chron link

Thanks to a little-noticed auction sale, a South Bay couple are the proud owners of one of the most exclusive streets in San Francisco — and they’re looking for ways to make their purchase pay.

Tina Lam and Michael Cheng snatched up Presidio Terrace — the block-long, private oval street lined by 35 megamillion-dollar mansions — for $90,000 and change in a city-run auction stemming from an unpaid tax bill. They outlasted several other bidders.

Now they’re looking to cash in — maybe by charging the residents of those mansions to park on their own private street.

[BattleHymn]

Yoy know this is kind of funny, I did a zillow search in Seattle for a 1200 sq. ft residence and only two came up. There is also only one with any type of basement and it says 150 sq. foot finished, oh it's estimate is 525k.

Now if you want to see an investment I would have loved to get check this out. I would screw those Frisco libs so hard their heads would spin right off. 

SF Chron link

2016 Hillary:  Do over!  Do over!  Aww, come'on guys, do over!!!


2017 smart capitalists buy up street for pennies on the dollar:  Do over!  Do over! Aww, come'on guys, do over! 

[freedumb2003b]

pnwmom (84,477 posts)
16. In Seattle our first home with 1200 square feet and a partial basement

is now valued at $772K, according to Zillow.

We paid $80K for it.
Reply to this post

Thank you DU for the proper term for this: Humblebragging

[Delmar]

Response to MoonRiver (Reply #31)Sun Aug 6, 2017, 08:00 AM
Star Member pnwmom (84,484 posts)
32. We sold it a long time ago for about $120k. Too bad we didn't keep it as a rental! n/t

And now you know...

the rest of the story.

[BattleHymn]

And now you know...

the rest of the story.

I bought $5000 worth of Amazon shares for $1.50.  They're worth over $2.5 million now.*


*(I sold them when they were at $1.75 apiece.)


At the DU, the rest of the story, along with the facts, is always optional.