Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (71353)	8/30/2009 7:25:40 PM
From: TobagoJack	Read Replies (2) of 74559

the irrational may turn out to be that for the folks who signed on the dotted line to pay bank interest in order to 'buy' the homes they should not have afforded, to then keep 'buying' the same house even as it devolves to 50% of its original cost, and ... humiliatingly, to keep paying seriously unreasonable property tax in order to keep themselves, with loathing, chained to the high cost self-pay-as-you-go prison and remain, happily, a serf to the bank, all in order to have a reason to fear being laid off, insultingly, by their employers financed by the same never-say-sorry banks. in freedom kowloon and on money rock hong kong, we aim for debt-free ownership of abode lightly taxed at 0.05% of value after all said and done. that is ownership. i am not certain what the nonsense in usa re home ownership is all about at those absurdly and 20-60x fold higher property tax rates. cb ilaine thought it all a brilliant idea, and so maybe she knows better :0)

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