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For example?? Without practical answers this reads like an old fart complaining about good old times. Texas might be the only reasonable alternative for home ow

by adave 3y ago

For example?? Without practical answers this reads like an old fart complaining about good old times. Texas might be the only reasonable alternative for home ownership, even then salaries are lower and we all know about their current situation especially in smaller localities.

nradov 3y ago
Texas is hardly the only reasonable alternative. Several other states make it much easier to own your own home. Look around and find somewhere you like. https://ipropertymanagement.com/research/homeownership-rate-by-state https://ipropertymanagement.com/research/homeownership-rate-...
- than3 3y ago
  I agree, its a tradeoff wherever you go and takes careful planning. You can either have high overall income taxes, or you have high property taxes (and low overall cost of living). Ironically, for those who won't retire before 2030, we'll probably never see social security benefits despite paying into it for most of our life (15% tax).
  - nradov 3y ago
    You will see some Social Security benefits. There will likely be some benefit cuts and perhaps a further increase in retirement age, but there is no political appetite to eliminate the program entirely. As long as you survive to retirement age you will receive something but it might be less than what you paid in.
    - than3 3y ago
      While it is true there is no political appetite to eliminate it, that has little to do with whether you'll get a reasonable amount of benefit from it. Currently, mandatory spending which includes Medicare and Social Security go over a cliff where the interest exceeds projected GDP ~2032 (before factoring in inflation; it gets worse with inflation). There was a congressman trying to bring attention to the issue for newly elected politicians who did a C-SPAN presentation on it. Link: https://www.youtube.com/watch?v=6ut1yQg2qA4&ab_channel=ForbesBreakingNews https://www.youtube.com/watch?v=6ut1yQg2qA4&ab_channel=Forbe...

by adave 3y ago

nradov 3y ago

Texas is hardly the only reasonable alternative. Several other states make it much easier to own your own home. Look around and find somewhere you like. https://ipropertymanagement.com/research/homeownership-rate-by-state https://ipropertymanagement.com/research/homeownership-rate-...

than3 3y ago
I agree, its a tradeoff wherever you go and takes careful planning. You can either have high overall income taxes, or you have high property taxes (and low overall cost of living). Ironically, for those who won't retire before 2030, we'll probably never see social security benefits despite paying into it for most of our life (15% tax).
- nradov 3y ago
  You will see some Social Security benefits. There will likely be some benefit cuts and perhaps a further increase in retirement age, but there is no political appetite to eliminate the program entirely. As long as you survive to retirement age you will receive something but it might be less than what you paid in.
  - than3 3y ago
    While it is true there is no political appetite to eliminate it, that has little to do with whether you'll get a reasonable amount of benefit from it. Currently, mandatory spending which includes Medicare and Social Security go over a cliff where the interest exceeds projected GDP ~2032 (before factoring in inflation; it gets worse with inflation). There was a congressman trying to bring attention to the issue for newly elected politicians who did a C-SPAN presentation on it. Link: https://www.youtube.com/watch?v=6ut1yQg2qA4&ab_channel=ForbesBreakingNews https://www.youtube.com/watch?v=6ut1yQg2qA4&ab_channel=Forbe...