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Author Topic: Home Ownership and Wealth Building  (Read 112515 times)

official2008

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Re: Home Ownership and Wealth Building
« Reply #80 on: May 16, 2005, 03:21:08 PM »
Msjay, youíre right, my family did rentÖ until they could afford to, and it was the right to, buy a home; we got three now.  ;)


Anyway, I can only assume that I presented the argument poorly, as it is not really as controversial as you make it out to be. Economists have been saying this for years.

Itís my fault though, i should have realized that I canít discuss this with non-economists and closed-minded people without backing it up.


So, listen to the economics editor of the Economist Magazine, this Harvard economist, and another smart economist touch on what I failed to get across.

http://www.npr.org/templates/story/story.php?storyId=4624307&sourceCode=RSS


http://www.npr.org/templates/story/story.php?storyId=4531732




Iím going to get some numbers for yíall too.

Be easy.
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One Step Ahead

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Re: Home Ownership and Wealth Building
« Reply #81 on: May 16, 2005, 03:25:13 PM »
Msjay, youíre right, my family did rentÖ until they could afford to, and it was the right to, buy a home; we got three now. ;)


Anyway, I can only assume that I presented the argument poorly, as it is not really as controversial as you make it out to be. Economists have been saying this for years.

Itís my fault though, i should have realized that I canít discuss this with non-economists and closed-minded people without backing it up.


So, listen to the economics editor of the Economist Magazine, this Harvard economist, and another smart economist touch on what I failed to get across.

http://www.npr.org/templates/story/story.php?storyId=4624307&sourceCode=RSS


http://www.npr.org/templates/story/story.php?storyId=4531732




Iím going to get some numbers for yíall too.

Be easy.


damn, why do half the people on this board have parents banking it like that?  idea for a poll, how many homes/properties do your parents own?   :-\

_BP_

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Re: Home Ownership and Wealth Building
« Reply #82 on: May 16, 2005, 03:42:57 PM »
Msjay, youíre right, my family did rentÖ until they could afford to, and it was the right to, buy a home; we got three now.  ;)


Anyway, I can only assume that I presented the argument poorly, as it is not really as controversial as you make it out to be. Economists have been saying this for years.

Itís my fault though, i should have realized that I canít discuss this with non-economists and closed-minded people without backing it up.


So, listen to the economics editor of the Economist Magazine, this Harvard economist, and another smart economist touch on what I failed to get across.

http://www.npr.org/templates/story/story.php?storyId=4624307&sourceCode=RSS


http://www.npr.org/templates/story/story.php?storyId=4531732




Iím going to get some numbers for yíall too.

Be easy.

.

You posted a link from an economist backing up your claim, while ignoring the overwhelming economic data and analysis that hammers home the opposing view.  If a single viewpoint can be held out as proof against a mountain of conflicting evidence, then hereís a link to a scientific study outlining why global warming does not exist.  I guess that settles it...

http://www.marshall.org/article.php?id=149
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official2008

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Re: Home Ownership and Wealth Building
« Reply #83 on: May 16, 2005, 03:48:44 PM »
that's one way to do it; just discredit anything counter to your beliefs. you're never wrong that way...
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blk_reign

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Re: Home Ownership and Wealth Building
« Reply #84 on: May 16, 2005, 04:10:47 PM »
Hold on Official.. you think we're closed minded because we don't agree with you? ???

I'm speaking from my experiences.. renting for 4 yrs.. owning for 1..

so since your family owns three homes now.. do they regret ownership? are they planning on going back to renting??
We're not accepting this CHANGE UP in the rules. Period. American presidents have been in the bed with organized crime, corporate pilferers, and the like for years. And all u want to put on this man is that his pastor said "Gotdamn America?" Hell, America.U got off pretty damn well, if you ask me...

faith2005

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Re: Home Ownership and Wealth Building
« Reply #85 on: May 16, 2005, 04:23:18 PM »
i hate to say it, but after reading this thread, i find it really hard to believe that a black man whose parents own three homes would be discouraging other young black people from buying a home. i am not planning to buy a home right now, but i have seen other people do it who are 35 and under, and none of them regret the decision. i mean its almost guaranteed that if you own a home and rent it out, the renters are paying the mortgage plus extra. and even if its in a neighborhood where the property values are falling, the rent might be low, but its still probably going to cover the mortgage plus some. i see it here in b-more, as the neighborhood changes, white people are buying the houses, sometimes its their second/third, but one landlord i met actually lives in florida and owns a home in baltimore broken up into apts. and with a 2 family, even if you don't rent out the other half, you can split it with family and pool your resources in terms of child-care/property maintenance and everything else. i think that book rich dad/poor dad talks alot about this issue. the man made millions off of home ownership and he didn't start off wealthy at all.

blk_reign

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Re: Home Ownership and Wealth Building
« Reply #86 on: May 16, 2005, 04:50:53 PM »
yeah Faith..you know when he said that his parents owned 3 houses...I was dying :D.. then he said "we".. like his name was on the deed  :D

i can see it now..

official: mom/dad you know it's better to rent it gives you the security to live wherever you want and beat to your own drum

official's parents: *smack*

official: getting up off the floor but mom :'( :-\  check out this link on NPR it will substantiate my claim

official's parents: to his younger siblings don't listen to a damn thing your bro says >:(
We're not accepting this CHANGE UP in the rules. Period. American presidents have been in the bed with organized crime, corporate pilferers, and the like for years. And all u want to put on this man is that his pastor said "Gotdamn America?" Hell, America.U got off pretty damn well, if you ask me...

_BP_

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Re: Home Ownership and Wealth Building
« Reply #87 on: May 16, 2005, 05:33:22 PM »
yeah Faith..you know when he said that his parents owned 3 houses...I was dying :D.. then he said "we".. like his name was on the deed  :D

i can see it now..

official: mom/dad you know it's better to rent it gives you the security to live wherever you want and beat to your own drum

official's parents: *smack*

official: getting up off the floor but mom :'( :-\  check out this link on NPR it will substantiate my claim

official's parents: to his younger siblings don't listen to a damn thing your bro says >:(

 :D, I can see you've been hanging around HBCU;)  haha, I hope official gets the irony of his position.
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Intuition

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Re: Home Ownership and Wealth Building
« Reply #88 on: May 16, 2005, 05:38:33 PM »
yeah Faith..you know when he said that his parents owned 3 houses...I was dying :D.. then he said "we".. like his name was on the deed  :D

i can see it now..

official: mom/dad you know it's better to rent it gives you the security to live wherever you want and beat to your own drum

official's parents: *smack*

official: getting up off the floor but mom :'( :-\  check out this link on NPR it will substantiate my claim

You forgot...offical's parents: *smack* (for the backtalk)

official's parents: to his younger siblings don't listen to a damn thing your bro says >:(

ROFL

Statistic

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Re: Home Ownership and Wealth Building
« Reply #89 on: May 16, 2005, 05:39:24 PM »
yo - Official - I have to ask: Is that a gold chain?
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