the people have spoken lets frack Yougstown.
November 7, 2013 at 12:28 p.m.
The people have spoken!
November 7, 2013 at 12:25 p.m.
Youngstown has already been destroyed.
October 18, 2013 at 11:53 a.m.
Golan Heights - Who cares! those people are still blowing each other up.
I do find a paricular quote in this article funny and can't seem to take it seriously
"If we want to attract people to this area to live, we need to promote clean air and clean water.”
People everywhere want to move to Youngstown for its Clean Air! Jobs and Stable economy? naw people don't look for that kind of stuff when they move do they?
October 17, 2013 at 4:13 p.m.
76-as i said before i'd rather own than rent. So i think your just debating that with yourself.
1984 you probably got a 12+% interest rate. If you refinanced your house it would be reappraised and taxes would go up with that new appraisal.
Your taxes and insurance are not that low if you house is worth $1M, so it appears that you have fudged the value. taxes and insurance are based on land/improved value. If it is worth that much may be due to large acreage and that fuel underneath it. (which is the basis of this topic)
You didn't account for the 82% inflation between 1984-2013
450/month over 30 years $162k
not gonna do all the math/ (F given P) for you, i try not to work for free. but you won't becoming out that far ahead for a 30yr+ investment.
oh yeah and theres the 65K realtor fee.
but to the bottom of it
You are not renting your house out for $3500. Hence no income form it-->
Borrow against the reverse mortgage, Your just getting back money you already spent and paying interest on it again.
Truthfully i think we just have different ideas of what an asset it. To you guys its anything you own. Garbage cans, telephones, tuna sandwiches, fishing boats, pets.
To me an asset is something that pays for itself or puts money in my pocket.
October 10, 2013 at 5:04 p.m.
Gm cars are junk, I've owned almost everyone of them growing up, cavalier, sunbird, cobolt, corsica, grand am. olds 88 and olds alero, Mind you i didn't buy many of these new. and i have a lot of family that works in lordstown. You get what you pay for. I do love the Silverado though.
October 10, 2013 at 12:15 p.m.
an asset isn't just something you own, an asset is something that puts money in your pocket, stocks, bonds, rentals, businesses. A liability is something that takes money out of your pocket. Houses you live in are liabilitys...
You pay taxes, interest, upkeep utilities ect.
While i agree i'd rather rent than own because of being able to get some equity out of my payments the fact is it just takes money out of your pocket, even when it paid off.
That $100,000 house you bought? you actually paid around $250,000 for it. the interest on the loan usually cost more than the house does at 6% apr, plus property taxes over 30 years is about 45k plus upkeep and insurance etc.
so even if your property value doubles over 30 years to $200,000 your still in the hole $50k. while You have to have a place to live, i wouldn't consider your home to be a good asset.
October 10, 2013 at 12:06 p.m.
Im not much one to one up people, because money is not what makes you rich, but trust me cambridge i could. But anyone that has any idea of what their doing in the realestate market knows that their house is not really an "asset" but more of a liability.
October 7, 2013 at 11:08 a.m.
Oh my, none of you, for or against, should argue anything on this seeing as how little educated you are on the subject. Locally speaking the mills have done 1000's x more environmental damage to the area.
October 7, 2013 at 10:57 a.m.
76Ytown- I think you give College professors a bit too much credit. Most professors have spent their lives getting their education and reading books. There are a some that do research but still spend very little time if any anywhere near a drill sight or in the field for that matter. If Someone is an expert in this field, they will most likely not be a professor. They will be working for an energy company because the difference between 80K and 225K salary is too great and their expertise is more valueable to the private sector than in the acadamia community. just my opinion based on the numerous professors and professionals i've worked with.
October 1, 2013 at 10:36 a.m.