Home Ownership and Wealth Building

[seu2002]

from what i've gathered, it's just BP.  and you too, no?

[blk_reign]

i have a home already .. now i'm trying to help others

from what i've gathered, it's just BP.  and you too, no?

[_BP_]

BP is going to buy my house. 

really? where? (j/k regal)

yeah, but i'm having his children. 

 

[angelus]

Econnomic subjugation is a useful tool. Get he masses excited about a product through media manipulation and they will spend all their money on consumable goods taht lose value over time rather than investing their money in property, education, stocks, etc. thus they have a hand in their own subjugation....IMO.

[blk_reign]

why are you SO negative 

Econnomic subjugation is a useful tool. Get he masses excited about a product through media manipulation and they will spend all their money on consumable goods taht lose value over time rather than investing their money in property, education, stocks, etc. thus they have a hand in their own subjugation....IMO.

[Made4law]

so is anyone trying to buy a home anytime soon?

Hey folks, I thought I would chime in with my thoughts on home ownership.  

First off owning a home alone will not make you rich, however what it can and will do for you is provide a cushion for certain "financial mistakes" that one may make in their youth.  It will also provide you with a valuable tax write off each year.  But what home ownership has done for me is provide an opportunity for me to achieve my dream of being an attorney.  I am a fairly young man and have owned my house for 7 years...I am selling this house and buying a new house and going to Law school.  The selling of my house and moving to a less expensive, and better area is allowing me to accomplish all of my goals, limit my debt and keep my family happy at the same time.  I am saying this as a testimonial to the power of home ownership.  Most markets are growing and will probably continue to grow because..."They don't make Real Estate anymore"...sure the bubble may burst or shrink but people will always need a place to live...and the American Dream is based upon owning land, and if that is not enough the Bible says to own land and property.  When we as a race begin to put Homeownership above all other material items, then we will begin to see a shift in the wealth of America flowing more in our direction.

[angelus]

I thought I was being realistic.

why are you SO negative 

Econnomic subjugation is a useful tool. Get he masses excited about a product through media manipulation and they will spend all their money on consumable goods taht lose value over time rather than investing their money in property, education, stocks, etc. thus they have a hand in their own subjugation....IMO.

[official2008]

Let me jump in on this one.

I have to disagree on the whole American dream/buy a house theory. I’m against buying homes to “build wealth,” as far as helping black people goes. I think the discussion so far has been talking about the wrong type of wealth, (i.e. monetary) which doesn’t necessarily follow from buying a home btw.

We should be trying to build political capital rather than anything fiscal. You see, people always think that money is power, but it’s just the opposite, power is money (you have to understand the linguistic properties of identity to understand that the statement I just made isn’t the same), but let me explain what I’m saying. It doesn’t matter where you live, or if you own that residence or not, what matters is how you live. Being stuck under a burdensome mortgage for 20-30+ years is not the way to go.  However, owning a solid stock portfolio is, having the mobility to get up and leave a particular political district or economy is as well. 

Just think if black people instead of putting 30 to sometimes 60/80% of their income into buying a house were to invest that money into something that helps us all. Like black businesses, black banks…Africa!

Of course there are exceptions, but buying a home is so secondary.

[Statistic]

official - what are you doing in the UK?

[HBCU.EDU]

  And you said that *&^% with a modicum of sincerity!

Let me jump in on this one.

I have to disagree on the whole American dream/buy a house theory. I’m against buying homes to “build wealth,” as far as helping black people goes. I think the discussion so far has been talking about the wrong type of wealth, (i.e. monetary) which doesn’t necessarily follow from buying a home btw.

We should be trying to build political capital rather than anything fiscal. You see, people always think that money is power, but it’s just the opposite, power is money (you have to understand the linguistic properties of identity to understand that the statement I just made isn’t the same), but let me explain what I’m saying. It doesn’t matter where you live, or if you own that residence or not, what matters is how you live. Being stuck under a burdensome mortgage for 20-30+ years is not the way to go.  However, owning a solid stock portfolio is, having the mobility to get up and leave a particular political district or economy is as well. 

Just think if black people instead of putting 30 to sometimes 60/80% of their income into buying a house were to invest that money into something that helps us all. Like black businesses, black banks…Africa!

Of course there are exceptions, but buying a home is so secondary.