I found this insightful video over on TJ Shelby's blog. I've had a lot of things lately which have kind of summed up thoughts I've been having, and this is one of those.
I think I'm about ready to give up on the idea of home ownership for a while. I guess I could be considered a home owner right now, but the reality is, that my soul is pretty much owned by Wells Fargo bank.
I think seeing the 11 minute time frame of the clip scares people away. It's too bad. It is totally worth it. I agree wholeheartedly with the home ownership thought too. We moved up to Utah about a year and a half ago with the intention of buying a home after a year or so, thinking it would take that long to decide where to live, get pre-approved, etc.
ReplyDeleteNow as we look around, we live in a sweet neighborhood. Our rent is about 28% of my net pay and it includes cable and high speed internet. A simple call to the landlord has resulted in a new dishwasher, new garbage disposal and a tune up of our air conditioner. Why would I be anxious to buy a home (where most people today spend 50% of their net pay to their mortgage) and all of the headaches associated with home ownership.
I know, I know. Investing in my own retirement, etc. But for right now, 28% is more appealing, especially with 4 kids.
The one big thing people assume is that we live in a capitalistic economy. We don't and have not for nearly 100 years now. Rather than think the government capable of regulating banks by handling other people's money, in a free market capitalistic society the banks would be regulated by people doing what they want with their own money.
ReplyDeleteThe primary reason why corrupt businesses and banks get away with their chicanery: they pay the government to take their side, often by regulating their competition out of business.
There's plenty of information on this and more at mises.org and lewrockwell.com
TJ - that 28% is definitely one of the big draws for me - that and not feeling like I'm beholden to anyone else.
ReplyDeleteDave... I'm going to both agree and disagree with you, but with the caveat that I know less that I should and haven't checked out either of those sites - but I will!
Yes, I don't think we live in a pure capitalist society. I would submit that the US System is a form of crony capitalism.
But... I think the current system is the natural result of a capitalism.
I could explain more if you would like, but I think ultimately we need a system which incorporates elements of capitalism, socialism, and no doubt several other isms, and we need to find some fool proof way of preventing fraud and corruption.
Of course, that is all easier said than done!
I fail miserably at forcing my life to fit into any system on a macro level...wholly buying into a plan that is supposed to work for everyone. I succeed beyond measure in focusing on the little things....my life....at the micro level.
ReplyDeleteThanks for the post Koda. I have spent more than a couple hours pondering this today. You're the man when it comes to provoking thought and I appreciate you for that!