Still think TITNC3: Return of the Iceberg was peak

Philosophically, I encourage people to view their housing as a cost, not a financial investment.

That said, if it decides to appreciate absurdly, I will not complain. Unexpected things occur sometimes, extra options never hurt.

 

A house isn't a cost it's an asset. If your renting then by all means it's a cost.

I agree you should not look at is an investment if you do own. My retirement plan does not include my home. When I tally up my net worth I do include the house in that.

 

moass imminent

 

What if you bought a brand new house in Eastern Germany in 1938?

Or, more relevant, a house at sea-level in florida today. Poor ROI in both cases.

 

Agreed, it's an asset with carrying costs and can absolutely be a net cost even fully owned.

There are houses in Detroit that can't be sold for a dollar. They absolutely cost more at initial purchase.

Property tax, maintenance, and insurance (should you choose to have it) are eternal costs regardless of what the house value does.

 

You know, that's the one thing that particularly irks me about our land ownership system. You never truly "own" it. You're paying property taxes on it in perpetuity. You're essentially leasing it from the .gov even though your name is on the deed.

 

For tax purposes? Absolutely, please.

When it comes to my personal financial planning, GAAP takes a backseat to practical reality if they differ

 

Interesting.

But that’s just me.

I’m sure “others” will have more to say.

 

Yep. Since the dark ages modern societies have been building a better fiefdom. lol

 

I'm so weary of being a peasant.

 

Kind of. Property tax bothers me least of all types of tax. You live somewhere, you help pay the cost of public goods in that area.

It's worth noting that while there are penalties for nonpayment of tax in the US, if you keep your taxes current your property rights are unimpeded. That's a very important distinction from a lease.

You can probably get untaxed property ownership in areas like rural Somalia...if you can defend it from the local warlords.

Stable, effectively governed societies require some tradeoffs of freedom. Property tax is a small price to pay for living in one of the most comfortable, stable, and economically dynamic countries in history.

 

I on the other hand have ancestors from England, and there is a castle bearing the family name.

My theory is my ancestor was a grounds keeper there and stole the name as he left for America.

 

I would like to have the option to buy a piece of land that's not dependent on public services, i.e. no power, water, direct road to it and not pay taxes on it.

If I buy 10 acres in Alaska that's only accessible by hiking or float plane, I think it's fair it shouldn't be taxed. Of course, the argument can always be made you're being taxed for our defense infrastructure.

 

Go reclaim your castle! I'll bring beer and sausages

 

And the courts and public offices that protect and record said ownership along with all your other rights as a US citizen.

Trust me, it would be an easy tithe to manage - if you're doing an off-the-grid cabin on a staked claim in Nowhere, Alaska your property value assessment for tax purposes will be...low.

 

My Tacoma is my castle now, you know that. Beer and sausages still welcome though! Great view of the river!

 

So what I'm hearing is, I should acquire my own nation-state. brb, island shopping. Is a small fishing boat with a pistol enough to be considered as having a navy?

 

And a flag.

 

So i've been busy, what did I miss?

How's everyone doing???