Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (16143)	6/15/2023 2:21:26 PM
From: Kirk ©	Read Replies (1) \| Respond to of 27273

Thanks. It is sad the lack of basic skills so many graduate college with. They can tell you how to sue someone or get them fired for using the wrong pronoun or telling an off color, sexist joke but they don't understand math and compounding. For example, the articles all over the news here is how expensive it is to buy a house and how few can afford it. Well, it has ALWAYS been this way. when I started working, I was jealous that some of my HP mentors bought homes in Los Altos but it was way out of my price range when I started working as a well paid engineer. Well, rather than gripe and let my green envy get to me, I asked them how they managed it. It turns out they partnered with others to buy then as their salaries went up and their fixed costs stayed relatively flat, they could afford to buy the others out and all own homes. Two guys went so far as to use multiple credit cards to get their down payment! This would still work today... rather than put $3000 to $4000 a month into a fancy apartment, they could pool that money to buy a home with others AND get a tax deduction. I found some papers yesterday from when I was looking to refinance my 10% mortgage in 1990 or so.... It started out at 14% variable when rates for fixed were 18% or so... Anyway, 7% looks good in comparison to what I started out at and the reason to buy is you lock in your housing costs, especially if you get a variable loan that gives you 5 years fixed before it adjusts and you are young where you can expect to be making much more in 5 years. Anyway, I expect all these types will get votes to raise taxes on the successful in the hope it will make their housing costs lower... but it will probably backfire.