The Affluent Homeless

Discussion in 'Politics, Religion, Social Issues' started by jkcerda, Apr 25, 2019.

  1. jkcerda macrumors 6502a

    jkcerda

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    #1
    https://www.npr.org/2019/04/23/7151...o1qSkbBgnGLarf3EJ5V21hOFJloroEZcmFhc7GgTbRyLo
    CA rents suck . so I can see why many can't really rent or move out of their parents home, it's a mess out there. keep bringing illegals in, making sure rent stays high as hell :mad:
     
  2. VulchR macrumors 68020

    VulchR

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    #2
    Sigh - so poor people who hardly having anything, who come to the US with virtually no money, who are mostly confined to the lowest paying of jobs are driving up rents? It's not middle class people who do not want to commute but oppose taxes for public transport or rich people investing in retail properties?

    Getting back to the story, this no-possession stage in these young people's lives will end the day they learn they're about to have kids.
     
  3. lowendlinux Contributor

    lowendlinux

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    #3
    I read this article this morning and I thought the idea is pretty cool.
     
  4. NT1440 macrumors G5

    NT1440

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    #4
    God NPR is the “liberal” mouthpiece for corporate power. Leave it to them to always frame people adapting to the current state of economics as if it’s a choice or “opting in”. These are the same people that constantly report on how young people are “choosing” to live with their parents longer. Nobody in their 20’s WANTS to live at home, it’s a necessity when paying back student loans and making less than their parents did (adjusted for inflation) at their age.
     
  5. Chew Toy McCoy macrumors regular

    Chew Toy McCoy

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    #5
    Maybe it's different in SoCal, but in NorCal it’s the Chinese and Indians that are driving up the cost of living. The tech industry has their own “let them all in” policy that has nothing to do with the southern border. Central Americans are barely a blip up here.
     
  6. jkcerda thread starter macrumors 6502a

    jkcerda

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    #6
    $15-$18 an hour does not get you much, goes along with that $500-600 car payment :(
     
  7. Mousse macrumors 68000

    Mousse

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    #7
    I'm opting in to the lifestyle of a divorced father, even though I'm still married and living with my wife and kids. I own 5 pairs of pants and 6 shirts and one pair of shoes. The Missus gets half my paycheck and I drive around in an old Dodge. And every time I go to the bank, the teller calls other bankers so they can have a good laugh at a checking account with only $28 in it. OMG, I've become just like my hero, Al Bundy.o_O
     
  8. Solver macrumors 6502a

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    #8
    No personal ownership. No personal responsibility. Looks like Utopia is just around the corner.
    /s
     
  9. cube macrumors P6

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  10. lowendlinux Contributor

    lowendlinux

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  11. pshufd macrumors 6502a

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    #11
    I own 6,000 shares of a business development company. It pays me $1,200 a month in dividends and often has one or two special dividends a year where it pays more. What could you do with an extra $1,200/month (net taxes of course)?

    Why is it nice to own a house instead of renting? The question of owning vs renting is more of a question of valuation. Sometimes owning makes more sense and sometimes renting makes more sense. I know many people that sold their homes and rented in 2005-2007. We had the housing crash and then they bought homes when prices collapsed. There's are various calculations to determine which one is better but it's difficult because real-estate is generally illiquid.

    I mentioned The Millionaire Next Door in another thread. One aspect of building wealth is to favor capital spending over leasing things. An example would be a cable modem/router. I had the option to buy my own for $170 or pay $8/month to rent it from Comcast. I bought the modem-router back in 2011 and have been using it since then. So payback was around two years.

    A first course in finance teaches you to look at valuing things differently.
     
  12. yaxomoxay macrumors 68040

    yaxomoxay

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    #12
    Is that the Ramsey associate’s book ?
     
  13. lowendlinux Contributor

    lowendlinux

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    #13
    You're trading wealth building for flexibility.
    --- Post Merged, Apr 25, 2019 ---
    I don't think so, I'm pretty sure he's been around longer than Ramsey.
     
  14. jkcerda thread starter macrumors 6502a

    jkcerda

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    #14
    Ramsey bolton is dead, his economic plan and overall means of taking over are not what I would like to see practiced by MY kids o_Oo_Oo_O
     
  15. pshufd macrumors 6502a

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    #15
    No. Main Street Capital. Ticker is MAIN.

    You can see a detailed analysis of the company at https://seekingalpha.com/article/42...ed-nii-decrease-nav-increase-includes-current (registration required). Scott Kennedy analyses a number of Business Development Companies and mortgage Real Estate Investment Trusts and is nice enough to provide them for free. These typically yield from 5% to 12% a year.
     
  16. lowendlinux Contributor

    lowendlinux

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    #16
    Had to google that..If it's not on Netflix or Motor Trend on demand I haven't seen it
     
  17. jkcerda thread starter macrumors 6502a

    jkcerda

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    #17
    try TenchisTV................Kody.................
     
  18. lowendlinux Contributor

    lowendlinux

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    #18
    Don't confuse can't and haven't tried with don't give a chit anymore.

    In all seriousness I don't watch enough TV to want any more, I can watch racing and shows on motor trend and documentaries and stuff on Netflix. When I want to nerd out most of the open source stuff is available through other channels.
     
  19. pshufd macrumors 6502a

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    #19
    You have to pay for TV these days too.
     
  20. lowendlinux Contributor

    lowendlinux

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    #20
    It isn't the pay part I have an expensive internet connection and have to pay my subscriptions it just that there really isn't anything compelling on normal TV that I want.
     
  21. pshufd macrumors 6502a

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    #21
    You pay in time and money.

    I was able to talk Comcast down 33% on ISP rates and it's quite reasonable. It just took about 90 minutes on the phone. $25/month or $600 for a two year contract is worth 90 minutes.
     
  22. lowendlinux Contributor

    lowendlinux

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    #22
    I don't want the contract on that or my cell phone..

    Remember the wealth v flexibility I brought up earlier, that's part of it.
     
  23. pshufd macrumors 6502a

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    #23
    With Comcast, moving isn't a problem - if you move somewhere else with Comcast, they do expect you to go with them. If not, I think that they let you out of it. I prefer contracts for the certainty.

    With MAIN, I do have flexibility. I can sell all of my shares in ten seconds with a market order for a $4.95 commission. In fact I do have a price target at around $42.55. If it gets there, then I am gone. Only to get back in if it drops back into the mid-30s.
     
  24. lowendlinux Contributor

    lowendlinux

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    #24
    I'm largely unconcerned with your stocks it's not something you have to carry with you and most of us have them in one form or another..

    When I leave it'll be back to overseas where there is no Comcast, I'd rather just call them pay my last bill toss the router in the trash and be on my way.

    Like I've said in past threads about stuff like this..if it doesn't fit in my Jeep I won't own it. Or some of the more extreme if it isn't on you when you run you don't own it.
     
  25. pshufd macrumors 6502a

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    #25
    I take it you don't maintain residences in other countries.
     

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26 April 25, 2019