I did my research and anyone who is buying a house should do their research. This is why I have not yet bought a home. At the very least, the $8G credit is def going to be extended, at least another 6 months. Worst case, if it expires- home prices will crash because if they're not getting sold with the credit, there's no way it's going to happen without the credit. I don't understand the rush right now. It's in everyone's best interest to wait and save... as long as the unemployment remains high.
I am a first-time buyer who has been saving for years for my downpayment. As a single person I finally have saved enough and earn enough to afford a home on my own. But according to this program I make too much to qualify for the entire credit. Maybe I'll marry some loser with no income to take part in the cash give-a-way!
I hope they just put an end to it and don't extend it. Even the 15K credit for any buyer should be taken off the table. Eventually we need to find the bottom of the market. This is just postponing it. Personally I'd rather wait this credit out and then look for a house. That way I can hve a lower payment for the next 30 years instead of 8K upfront (or 1700 in my case) that's fake money anyway and I'll be paying back through my increased taxes over the years.
End it, get it over with and let's find out where the market really is!
This is a wonderful article and reminds me so much of my own career. I play drums for a living. This includes teaching private lessons at a studio I rent out in New York City and lessons in peoples homes. I also perform regularly throughout New York City as a freelance drummer.
This past year, my group classes have really taken off and I've begun thinking about creating a marketing e-book aimed at music teachers. This is positive reinforcement for me.
Living in northern New England, our farmers are already facing the first frost. In order to keep eating healthy and well, like we do all summer w/the bounty of our beautiful but short growing season, we MUST relearn to freeze, dry and can, in other words - preserve. My grandmother did it so well!!! If only she were here now to guide me, thanks instead for the great links and short but succinct overview. Its cheaper, greener and healthier to preserve fresh food but remember its all about time, space and money. Which is easier and quicker for you to do without spending a lot - be wise!!!! But above all - just do it!!!!
What's the effect of this credit on prices? Right now, I still see wacky market conditions (in Los Angeles). Some areas have 10x more listings than sales. Sales uptick or not, there's lots of inventory... and some agents are pricing properties too high, perhaps in anticipation of sales growing as people learn how to get this free money.
Also, I thought this was a credit toward buying a NEW home, not buying a used home. That makes a big policy difference. If it only applies to new houses, then, maybe it's a necessary price support.
If the market can only afford to buy houses at below cost, the developers may go bankrupt.
That, alone, may be reason enough to eliminate this credit!
Great article - many thanks. However, I have to question this line:
"Mineral Oil – This seems to be one of the most effective oils to use, as it is also good for your skin."
Mineral oil good for your skin? Actually, it's rather the complete opposite. A number of studies have shown how bad mineral oils is for your skin - not to talk about environmental issues, as it's a petroleum product. It has been linked to arthritis, cancer, irritation and bioaccumulation.
Overdraft fees are just a way for the bank to scam you for money. The money one keeps in the bank is already enough for them to earn huge profits. Many foreign banks do not charge overdraft fees. I overdrew my foreign account with 2000 dollars once on a trip, paid it back a week later and did not have to pay a penny. I do not have to pay any fees except for my atm card and I also get some money from them for the interest I have accumulated during the year. Here in the U.S. the banks do what they want because none seem to know that it could be different. They treat you as the customer when really YOU ARE THE ONE LENDING YOUR MONEY TO THEM! I know go to my local bank and when they ask me which account to deposit it into I say no thank you Ill take cash.
Hey Diane I am interested in how things are working out for you I too am buying a concession trailer in just a couple days....and I thank all who have given all input, even those of you who wonder why does a can of soda cost $1.29 at 7-11 when I can get a 12 pack at Publix for $2.99. There is a reason they are called convenience stores, do you go to Outback Steakhouse and complain about the price of their steaks??....well yeah probably...I have been in restaurants for over 20 years and i know what it takes to run a successful business even a mobile one hard work, determination, lots of pre-planning and a good product...and I am with Wishtobe I am not in it to rape and pillage from those who have come to experience the Fairs or Festivals I will choose to work, rather provide a worthy product and service to all those who choose to patron my "Establishment". I do feel a little luckier than some on here, living in Florida we get to work year round if you're willing to travel enough, seeing as how i love to drive and drive it all works out.
Good Luck to all working on the same endeavors as I.
Right on, you're about about finding tech solutions and discovering ways to increase everyone's efficiency. The heads will take notice. They will praise you in front of the others. :) thanks for sharing!
The correct tire pressue is in the manual or [erhaps on a sticker on the driver's side door end panel. The pressure printed on the tire is usually a maximum. I believe using the maximum may be dangerous in hot months due to expansion from the heat of the road and friction, driving the pressure significantly over the maximum. The effect would be lessened in cooler months, but on wet or icy roads, you don't want to risk loss of traction.
There is alo the issue of tread wear. Improperly inflated tires (over- or under-inflated) cause uneven tread wear, causing parts of the tire to wear more quickly.
Not suggesting that anyone not properly inflate tires, just be sure you know what proper inflation is.
On making money while watching college football, I think many people would like to know that as well! I'll mention that my nephew has figured out how to do this: he has a scholarship as a manager for a NCAA Div I team. Meanwhile I convinced my oldest son to take a journalism class in high school in hopes perhaps that he could land a job in sports journalism (specifically, ESPN broadcasting); not sure where that will take him but his writing and grammar have improved.
Hi Lisa - Why would you be upset if you bought a house and sold it a year later in 2007? Wouldn't selling the house just a year later so soon mean you don't want to buy another house? Sorry, just don't get it, I'm pretty slow :)
Xin, I think you will love the Hildebrandt's post I wrote today. I sent a shout out to you and Wise Bread. Long live America!
My husband and I are going to be purchasing a new home soon and of course it is upsetting we do not qualify for the tax credit because we owned a home for a year and sold it July of 2007. This credit could really get us going, because with this new home we plan on purchasing a new bedroom and livingroom set but of course we have to charge it. We don't have $7,000.00 just lying around so this tax credit if extended to all homebuyers could really help us get our furniture and help the economy by putting the money back out there!
Great you are doing what you love One of the most popular successes here in San Francisco is "Kara's Cupcakes." The cupcakes are the best, and Kara is doing great while working at what she loves.
If only there was a good business to make money while watching college football! :)
The program is expensive for sure, but where would the market be without it? It's fair to say the $8,000 tax credit has impacted the Real Estate Market by resulting in more home sales. There's no doubt the majority of first time buyers who bought homes in 2009 were better qualified to purchase than many first time buyers between 2001-2007. This is good news because we can expect less foreclosures moving forward.
As far as an extension, how about a tax credit for less? This time not just for first timers, but for everyone. If the ultimate goal is $0 tax credits, lowering the amount would lead the market in that direction without a total market shock.
I really got inspired of this article. You are doing what you love but at the same time you are dividing your business into many sources of income.
I really think that this can be implemented in many businesses. You you like to bake cakes, you can earn money on selling cakes, you can sell accessories so that other people can bake cakes. You can also hold a backing course, both online and offline. You can also hold a business and marketing class for cake bakers :) Many sources of income.. sweet.
I agree with you, Financial Samurai and Olivia, this will cost us (or our children) in the future. And again, I think people who were already planning to purchase a house within the next year are going to do so with or without a tax credit.
One of the previous comments mentioned something about how the tax credit incentive is making the housing market spike up a bit because of bidding wars. So, I guess I'd prefer to not have the tax incentive if that means keeping the list price of the house the actual list price and not $50,000 or $100,000 more due to bidding wars. I see this happening in my neighborhood: a house is listed for $250.000 (a real fixer-upper). Then, once it sells, it sells for $300,000 or more! If this continues, my husband and I will again be in a situation where we can't afford a house.
this is a great post. the points that you put across are similar to the book that napoleon hill wrote about the secrets of the self made millionaire. the it means that the things that one has to do to be successful are the same universally. great post btw
how can t-bills impact on the poor and the developing countries?
l am in a part of the world where income level is low and culture of saving.
thanks
sammy
All I can think about is how our kids will be saddled with yet another heavy tax load down the line. Some one has to pay. And it's not just actual money, but the additional costs of administrating a program as well.
I did my research and anyone who is buying a house should do their research. This is why I have not yet bought a home. At the very least, the $8G credit is def going to be extended, at least another 6 months. Worst case, if it expires- home prices will crash because if they're not getting sold with the credit, there's no way it's going to happen without the credit. I don't understand the rush right now. It's in everyone's best interest to wait and save... as long as the unemployment remains high.
pledge did the job for me on my xbox 360 gears of war disc, i have too keep applying but if it saves me 15 quid i am happy .
I am a first-time buyer who has been saving for years for my downpayment. As a single person I finally have saved enough and earn enough to afford a home on my own. But according to this program I make too much to qualify for the entire credit. Maybe I'll marry some loser with no income to take part in the cash give-a-way!
I hope they just put an end to it and don't extend it. Even the 15K credit for any buyer should be taken off the table. Eventually we need to find the bottom of the market. This is just postponing it. Personally I'd rather wait this credit out and then look for a house. That way I can hve a lower payment for the next 30 years instead of 8K upfront (or 1700 in my case) that's fake money anyway and I'll be paying back through my increased taxes over the years.
End it, get it over with and let's find out where the market really is!
This is a wonderful article and reminds me so much of my own career. I play drums for a living. This includes teaching private lessons at a studio I rent out in New York City and lessons in peoples homes. I also perform regularly throughout New York City as a freelance drummer.
This past year, my group classes have really taken off and I've begun thinking about creating a marketing e-book aimed at music teachers. This is positive reinforcement for me.
Living in northern New England, our farmers are already facing the first frost. In order to keep eating healthy and well, like we do all summer w/the bounty of our beautiful but short growing season, we MUST relearn to freeze, dry and can, in other words - preserve. My grandmother did it so well!!! If only she were here now to guide me, thanks instead for the great links and short but succinct overview. Its cheaper, greener and healthier to preserve fresh food but remember its all about time, space and money. Which is easier and quicker for you to do without spending a lot - be wise!!!! But above all - just do it!!!!
What's the effect of this credit on prices? Right now, I still see wacky market conditions (in Los Angeles). Some areas have 10x more listings than sales. Sales uptick or not, there's lots of inventory... and some agents are pricing properties too high, perhaps in anticipation of sales growing as people learn how to get this free money.
Also, I thought this was a credit toward buying a NEW home, not buying a used home. That makes a big policy difference. If it only applies to new houses, then, maybe it's a necessary price support.
If the market can only afford to buy houses at below cost, the developers may go bankrupt.
That, alone, may be reason enough to eliminate this credit!
Hi,
Great article - many thanks. However, I have to question this line:
"Mineral Oil – This seems to be one of the most effective oils to use, as it is also good for your skin."
Mineral oil good for your skin? Actually, it's rather the complete opposite. A number of studies have shown how bad mineral oils is for your skin - not to talk about environmental issues, as it's a petroleum product. It has been linked to arthritis, cancer, irritation and bioaccumulation.
See here:
http://www.cosmeticsdatabase.com/ingredient.php?ingred06=703977¬hanks=1
and here:
http://www.organicconsumers.org/bodycare/toxic_cosmetics.cfm
A great natural alternative is Jojoba oil - it is actually a liquid wax that will not go rancid.
Thank you!
Agree Chase Sucks
Overdraft fees are just a way for the bank to scam you for money. The money one keeps in the bank is already enough for them to earn huge profits. Many foreign banks do not charge overdraft fees. I overdrew my foreign account with 2000 dollars once on a trip, paid it back a week later and did not have to pay a penny. I do not have to pay any fees except for my atm card and I also get some money from them for the interest I have accumulated during the year. Here in the U.S. the banks do what they want because none seem to know that it could be different. They treat you as the customer when really YOU ARE THE ONE LENDING YOUR MONEY TO THEM! I know go to my local bank and when they ask me which account to deposit it into I say no thank you Ill take cash.
Hey Diane I am interested in how things are working out for you I too am buying a concession trailer in just a couple days....and I thank all who have given all input, even those of you who wonder why does a can of soda cost $1.29 at 7-11 when I can get a 12 pack at Publix for $2.99. There is a reason they are called convenience stores, do you go to Outback Steakhouse and complain about the price of their steaks??....well yeah probably...I have been in restaurants for over 20 years and i know what it takes to run a successful business even a mobile one hard work, determination, lots of pre-planning and a good product...and I am with Wishtobe I am not in it to rape and pillage from those who have come to experience the Fairs or Festivals I will choose to work, rather provide a worthy product and service to all those who choose to patron my "Establishment". I do feel a little luckier than some on here, living in Florida we get to work year round if you're willing to travel enough, seeing as how i love to drive and drive it all works out.
Good Luck to all working on the same endeavors as I.
Right on, you're about about finding tech solutions and discovering ways to increase everyone's efficiency. The heads will take notice. They will praise you in front of the others. :) thanks for sharing!
-Mig
The correct tire pressue is in the manual or [erhaps on a sticker on the driver's side door end panel. The pressure printed on the tire is usually a maximum. I believe using the maximum may be dangerous in hot months due to expansion from the heat of the road and friction, driving the pressure significantly over the maximum. The effect would be lessened in cooler months, but on wet or icy roads, you don't want to risk loss of traction.
There is alo the issue of tread wear. Improperly inflated tires (over- or under-inflated) cause uneven tread wear, causing parts of the tire to wear more quickly.
Not suggesting that anyone not properly inflate tires, just be sure you know what proper inflation is.
Try baking a packet of Betty Crocker's corn bread (makes an 8 x 8 pan) and serving it with heated canned chili.
A baked potato with chili and grated cheese is also good.
On making money while watching college football, I think many people would like to know that as well! I'll mention that my nephew has figured out how to do this: he has a scholarship as a manager for a NCAA Div I team. Meanwhile I convinced my oldest son to take a journalism class in high school in hopes perhaps that he could land a job in sports journalism (specifically, ESPN broadcasting); not sure where that will take him but his writing and grammar have improved.
Hi Lisa - Why would you be upset if you bought a house and sold it a year later in 2007? Wouldn't selling the house just a year later so soon mean you don't want to buy another house? Sorry, just don't get it, I'm pretty slow :)
Xin, I think you will love the Hildebrandt's post I wrote today. I sent a shout out to you and Wise Bread. Long live America!
My husband and I are going to be purchasing a new home soon and of course it is upsetting we do not qualify for the tax credit because we owned a home for a year and sold it July of 2007. This credit could really get us going, because with this new home we plan on purchasing a new bedroom and livingroom set but of course we have to charge it. We don't have $7,000.00 just lying around so this tax credit if extended to all homebuyers could really help us get our furniture and help the economy by putting the money back out there!
Great you are doing what you love One of the most popular successes here in San Francisco is "Kara's Cupcakes." The cupcakes are the best, and Kara is doing great while working at what she loves.
If only there was a good business to make money while watching college football! :)
The program is expensive for sure, but where would the market be without it? It's fair to say the $8,000 tax credit has impacted the Real Estate Market by resulting in more home sales. There's no doubt the majority of first time buyers who bought homes in 2009 were better qualified to purchase than many first time buyers between 2001-2007. This is good news because we can expect less foreclosures moving forward.
As far as an extension, how about a tax credit for less? This time not just for first timers, but for everyone. If the ultimate goal is $0 tax credits, lowering the amount would lead the market in that direction without a total market shock.
I really got inspired of this article. You are doing what you love but at the same time you are dividing your business into many sources of income.
I really think that this can be implemented in many businesses. You you like to bake cakes, you can earn money on selling cakes, you can sell accessories so that other people can bake cakes. You can also hold a backing course, both online and offline. You can also hold a business and marketing class for cake bakers :) Many sources of income.. sweet.
Thanks again
-Thomas
I agree with you, Financial Samurai and Olivia, this will cost us (or our children) in the future. And again, I think people who were already planning to purchase a house within the next year are going to do so with or without a tax credit.
One of the previous comments mentioned something about how the tax credit incentive is making the housing market spike up a bit because of bidding wars. So, I guess I'd prefer to not have the tax incentive if that means keeping the list price of the house the actual list price and not $50,000 or $100,000 more due to bidding wars. I see this happening in my neighborhood: a house is listed for $250.000 (a real fixer-upper). Then, once it sells, it sells for $300,000 or more! If this continues, my husband and I will again be in a situation where we can't afford a house.
-Little House
... to suggest that business don't set prices based on greedy.
Are you sure this was approved by the Wise Bread editors?
this is a great post. the points that you put across are similar to the book that napoleon hill wrote about the secrets of the self made millionaire. the it means that the things that one has to do to be successful are the same universally. great post btw
how can t-bills impact on the poor and the developing countries?
l am in a part of the world where income level is low and culture of saving.
thanks
sammy
All I can think about is how our kids will be saddled with yet another heavy tax load down the line. Some one has to pay. And it's not just actual money, but the additional costs of administrating a program as well.
I use Ozeoil from Australia, it is fantastic! It has natural oils in it and my Fusion blades last months. Check them out at ozeoil.com
B