yeah, that's what I keep telling my kids. But they say things are too unsettled and they're not sure they want to continue living where they are living and they may have a job offer clear across the country somewhere. The days of buying and selling if you get transfered seem to be over for now. Back then you never heard anybody say IF I can sell my house. In my county some houses have been for sale for years.
anyone in there 20's or 30's would be better off buying a multiple unit property and let the tenants pay off your mortgage
Yuppers, gives you something to do for 10, 20 years till the taxes are greater than the mortgage payment, then you can sell and pay taxes on the depreciation and buy a canoe with the left over forced savings and finance the paddles.
You don't pay property taxes? You're the smartest person in the world. Don't even bother. I'm sick of hearing your brain-dead replies.
In the past recessions, the Fed could stimulate the economy just by lowering interest rates since these recessions were brought on by supply disruptions/labor costs/etc. However, we are dealing with a different beast here. Demand destruction. The overall pubic in developed countries have seen a sharp drop in demand similar to the drop in Japan in the 90's. You can not stimulate a pubic to buy stuff they don't want anymore just because it is cheaper to borrow money to buy it. This is why none of the stimulus has or will work. Time and lowering overall tax rates will be the only thing that fixes demand destruction. All we did was not let any of the supply in the economy fail and now the profits left will be shared between too big of a group. People need to fail and bad loans need to be written off before we recover. If we don't do this, welcome to Japan.