So I'm guessing you don't think your kids should have an equal or better life than your because they are "latecomers" then? I would really like to see if you really go into foreclosure out of spite if the credit were extended. When you buy things sometimes there are better deals down the road. There is no point in getting upset that another person got a better deal than you because they were patient and waited. I mean, I bought my Wii for $250, but if another person bought it for $150 I wouldn't smash my Wii. Anyway, all I am saying is that it is great for you if you did take advantage of the credit. Personally I think the only people who should be upset are those who cannot or do not want to use the credit, because the money is collectively coming out of their pockets.
There is this awesome $5 million house in PAcific Heights my friend has been eyeing. He makes over $1million a year and is hoping the tax credit will be extended so he can use the money to do some landscaping at his new house if he buys it!
This is the goal of providing employees with equity as part of their compensation. Evern since I got equity 10 years ago, I've thought like an owner because technically I am an owner. I focus on costs and profitability for the longest time, and I've been loyal to my firm for almost 10 years now.
Ownership culture is key. It makes me want to pick up the trash in the hallways, and always keep striving for a greater good.
I find it ridiculous and hypocritical that Brent and Maxwell would be "pissed" or feel "cheated" if they increased the credit without making it retroactive. They were happy to take the first credit and not think twice, but now that others could "profit" more than them they suddenly feel outraged?!?
This whole thing is a BS scam and an outrage from the get-go. It doesn't matter if it's a tax credit or an interest free loan (like it was originally), it's still a horrible, horrible program.
I have one question for everyone who thinks this benefits anyone...if this credit soooo great then why not make the credit for $50,000? Or better yet, $100,000? Hell, let's just give everyone a home! Of course this is reductio ad absurdum but the point is that someone has to pay for this. And that someone will be the taxpayers.
This stimulus shenanigans has got to end sometime and when it does the game is up. No one knows for sure truly how much demand was brought forward but this Keynesian-clown program but what we do know is that demand will drop as soon as it's over.
Personally, I'm waiting for this to end so I can look at buying afterwards. Why? Because now, suddenly every home is worth $8,000 less. No free money program = no propped-up home prices.
We've got a decade of structurally high unemployment ahead with no growth drivers. The quicker we all realize the reality of the situation and take the pain, the quicker this will all be over with.
Another possibility is to switch to double-edged blades: they run as low as 9¢ per blade (and that's for an excellent blade), and a blade lasts about a week. As a bonus, traditional shaving is enjoyable: a pleasure rather than a chore. Do a search on "gourmet shaving" for more info. Introductory book at gourmetshaving.com.
Excellent post. But I'd like to follow up on what the first commentor said.
I have to agree that in large organizations the strategy might not work. What might happen is that you'll end up taking responsibility for the work of others and not get recognized for it. That can be a bottomless pit!
However, even if management doesn't notice or acknowledge your efforts, your coworkers will notice it, and when they leave the company they'll remember you fondly, and refer you for jobs in their new organizations. That's always worth the effort. People don't usually think of this, but your first effort/best at networking is to be good at what you do, and be someone who can be counted upon by others.
But that said, in a smaller organization, where you have regular interface with the owner(s) of the company, I believe the strategy outlined in the post is totally possible.
I just read up on the 2008 vs. 2009 credit yesterday.
In 2008 the tax credit was an interest free loan, paid back over 15 years. In 2009, no payback necessary as long as you're in the house and meet other criteria.
From what I can see this year's buyers are getting a sweet deal, but last year's was more sustainable from a federal budget balancing standpoint. It still gave home buyers a boost when they needed it: within a year after buying the home, when you just threw a big chunk of money into it and may want to do some renovation.
I have been saving for a 20% down payment for the last few years. I decided to make the leap into the market and made a purchase last month. I would have taken me an additional year to save the 8k I was being given in the tax credit. I felt like I would be walking away from a great opportunity. I now have to pay a monthly PMI fee but I also reached my goal a year or two early. If the credit goes to 15k and is not retro-active I don't know how I will feel about it. I am grateful for the 8k credit but I might feel kinda cheated if someone else gets almost double what I did. Human nature I guess.....
It makes sense that they would tell us it wasn't valid then, as all of us in the class were looking to buy in the Bay Area. Thanks for helping clear that up!
Oh, I beg to differ on shaving cream being for wimps! This is a woman's perspective: My hubby, who is in construction and by no means a wimp uses shave cream. Mostly he uses it is because I find there is nothing sexier than watching him lather up and shave. The smell of his face after is another turn-on. So, no it is not for wimps, it can be though for men to please their women! I buy the shave cream, and always get him one with skin conditioners. He works outside paving roads, and I have to say at 51 his skin is just as smooth as the day we met 28 years ago!
It depends on the agencies that give out FHA loans in your area. It is still available in all the following cities in Cali according to this new press release:
Hi, thanks for great tips. The bad thing for winter is we cannot let fruit and vegetables keep for long time. But you advice us to use canning is a good idea. I should try it anyway. Actually, some vegetables are relative easy to store compared with other vegetables.
Please keep on posting this kind of posts.
Nice article, but the contradiction of having the title be "Act like you own the place" with the next heading being "Don't act like the owner..." kinda made me want to quit reading through the rest. The title could have just been "think like the owner".
Of course, the skeptic in me (and 20 years experience) tells me that's all "good for the company", but personally you'll rarely if ever see any return on that investment. Maybe I was unfortunate in the companies I chose to work for, but I can't remember getting rewarded a single time for any savings, inventions, or improved efficiency. That's just "business as usual" I guess. Having been a small business owner for quite some time, I very much enjoy my clever ideas to create efficiency. Because that extra value being created is mine to keep and use as I see fit. (Extra cash for me, grow the business, etc.)
So the next level of that advice would be... "Don't think like the owner - BE the owner". Admittedly of a much smaller pie, in the beginning at least. But you get the idea.
Chris, the tax rate varies on how much money you make. A lot of people are not taxed at 33% and those who are have enough money that a penny really won't make a difference.
At 23, I'm focused on making more money. Of course I pay attention to my spending, but my long-term career plans are important and I'll spend the time and money I need to make sure I can get where I want to go. I have no problem investing in myself :)
If you work enough, you'll hardly even have time to spend your money foolishly. Though I hardly recommend that path for everyone ;)
So I was soon to be in the market for my first house. I was planning on mid 2010 to collect a 20% down payment. The government made a plan and said hey 8,000 on your taxes if you do it now. After calculating the PMI and risk levels I determined that buying this year would be the smartest. I'm guessing that many are in a similar mindset. Extending the program 6 months may be helpful since it wasn't even on a full year. But the number of homes bought per tax-dollar spent will get worse and worse. We stopped the crisis, the market bottomed out, the awake people that could, bought. Seems like it worked and that now its time to be done. If the tax credit goes up to 15K and is not retro-active I might just go into foreclosure out of spite.
My husband and I recently (two weeks ago) took a first time homebuyers class required to qualify for a FHA loan. It is not true that you can use the tax credit as a downpayment. That was something that was allowed earlier in the year, but it is no longer true.
If you don't need a perfect shave an electric shaver works pretty well. I've purchased two over 8 years at under a $100 each. The second one is still going strong.
Hi Brent,
So I'm guessing you don't think your kids should have an equal or better life than your because they are "latecomers" then? I would really like to see if you really go into foreclosure out of spite if the credit were extended. When you buy things sometimes there are better deals down the road. There is no point in getting upset that another person got a better deal than you because they were patient and waited. I mean, I bought my Wii for $250, but if another person bought it for $150 I wouldn't smash my Wii. Anyway, all I am saying is that it is great for you if you did take advantage of the credit. Personally I think the only people who should be upset are those who cannot or do not want to use the credit, because the money is collectively coming out of their pockets.
There is this awesome $5 million house in PAcific Heights my friend has been eyeing. He makes over $1million a year and is hoping the tax credit will be extended so he can use the money to do some landscaping at his new house if he buys it!
Bailouts for all!
Financial Samurai
This is the goal of providing employees with equity as part of their compensation. Evern since I got equity 10 years ago, I've thought like an owner because technically I am an owner. I focus on costs and profitability for the longest time, and I've been loyal to my firm for almost 10 years now.
Ownership culture is key. It makes me want to pick up the trash in the hallways, and always keep striving for a greater good.
Financial Samurai
Why not wait till the extend and up a third time it might reach 20K... the whole point being that you should not reward latecomers.
I find it ridiculous and hypocritical that Brent and Maxwell would be "pissed" or feel "cheated" if they increased the credit without making it retroactive. They were happy to take the first credit and not think twice, but now that others could "profit" more than them they suddenly feel outraged?!?
This whole thing is a BS scam and an outrage from the get-go. It doesn't matter if it's a tax credit or an interest free loan (like it was originally), it's still a horrible, horrible program.
I have one question for everyone who thinks this benefits anyone...if this credit soooo great then why not make the credit for $50,000? Or better yet, $100,000? Hell, let's just give everyone a home! Of course this is reductio ad absurdum but the point is that someone has to pay for this. And that someone will be the taxpayers.
This stimulus shenanigans has got to end sometime and when it does the game is up. No one knows for sure truly how much demand was brought forward but this Keynesian-clown program but what we do know is that demand will drop as soon as it's over.
Personally, I'm waiting for this to end so I can look at buying afterwards. Why? Because now, suddenly every home is worth $8,000 less. No free money program = no propped-up home prices.
We've got a decade of structurally high unemployment ahead with no growth drivers. The quicker we all realize the reality of the situation and take the pain, the quicker this will all be over with.
Another possibility is to switch to double-edged blades: they run as low as 9¢ per blade (and that's for an excellent blade), and a blade lasts about a week. As a bonus, traditional shaving is enjoyable: a pleasure rather than a chore. Do a search on "gourmet shaving" for more info. Introductory book at gourmetshaving.com.
The original problem was giving loans to people who couldn't afford it. A tax credit has nothing to do with or fixing stupid lending policies.
I tried the oil submersion trick, and it was awful--dragging oil all over my skin each morning was a greasy mess.
I'm using alcohol now, and am much happier.
Excellent post. But I'd like to follow up on what the first commentor said.
I have to agree that in large organizations the strategy might not work. What might happen is that you'll end up taking responsibility for the work of others and not get recognized for it. That can be a bottomless pit!
However, even if management doesn't notice or acknowledge your efforts, your coworkers will notice it, and when they leave the company they'll remember you fondly, and refer you for jobs in their new organizations. That's always worth the effort. People don't usually think of this, but your first effort/best at networking is to be good at what you do, and be someone who can be counted upon by others.
But that said, in a smaller organization, where you have regular interface with the owner(s) of the company, I believe the strategy outlined in the post is totally possible.
I just read up on the 2008 vs. 2009 credit yesterday.
In 2008 the tax credit was an interest free loan, paid back over 15 years. In 2009, no payback necessary as long as you're in the house and meet other criteria.
From what I can see this year's buyers are getting a sweet deal, but last year's was more sustainable from a federal budget balancing standpoint. It still gave home buyers a boost when they needed it: within a year after buying the home, when you just threw a big chunk of money into it and may want to do some renovation.
I have been saving for a 20% down payment for the last few years. I decided to make the leap into the market and made a purchase last month. I would have taken me an additional year to save the 8k I was being given in the tax credit. I felt like I would be walking away from a great opportunity. I now have to pay a monthly PMI fee but I also reached my goal a year or two early. If the credit goes to 15k and is not retro-active I don't know how I will feel about it. I am grateful for the 8k credit but I might feel kinda cheated if someone else gets almost double what I did. Human nature I guess.....
It makes sense that they would tell us it wasn't valid then, as all of us in the class were looking to buy in the Bay Area. Thanks for helping clear that up!
Oh, I beg to differ on shaving cream being for wimps! This is a woman's perspective: My hubby, who is in construction and by no means a wimp uses shave cream. Mostly he uses it is because I find there is nothing sexier than watching him lather up and shave. The smell of his face after is another turn-on. So, no it is not for wimps, it can be though for men to please their women! I buy the shave cream, and always get him one with skin conditioners. He works outside paving roads, and I have to say at 51 his skin is just as smooth as the day we met 28 years ago!
Great tips, especially drying razor. To save even more money, folks should get back to wet shaving, here's my guide:
http://www.scordo.com/2009/02/how-to-shave-single-blade-shaving-products...
Best,
Vince
It depends on the agencies that give out FHA loans in your area. It is still available in all the following cities in Cali according to this new press release:
http://www.prweb.com/releases/2009/09/prweb2884044.htm
Those cities are all in SoCal, though. Anyway in the Bay Area $8k doesn't go very far.
Some other states also have similar programs so it is not completely gone for everyone.
Hi, thanks for great tips. The bad thing for winter is we cannot let fruit and vegetables keep for long time. But you advice us to use canning is a good idea. I should try it anyway. Actually, some vegetables are relative easy to store compared with other vegetables.
Please keep on posting this kind of posts.
Thanks,
G
Member of Amazon Coupons.
I'm in California, we were specifically told that it was no longer valid. I'm also in the Bay Area if that helps.
Nice article, but the contradiction of having the title be "Act like you own the place" with the next heading being "Don't act like the owner..." kinda made me want to quit reading through the rest. The title could have just been "think like the owner".
Of course, the skeptic in me (and 20 years experience) tells me that's all "good for the company", but personally you'll rarely if ever see any return on that investment. Maybe I was unfortunate in the companies I chose to work for, but I can't remember getting rewarded a single time for any savings, inventions, or improved efficiency. That's just "business as usual" I guess. Having been a small business owner for quite some time, I very much enjoy my clever ideas to create efficiency. Because that extra value being created is mine to keep and use as I see fit. (Extra cash for me, grow the business, etc.)
So the next level of that advice would be... "Don't think like the owner - BE the owner". Admittedly of a much smaller pie, in the beginning at least. But you get the idea.
Guest, the program for using the credit towards the 3.5% FHA is by state. In many areas of California it's still valid.
Wow i did not know any of these tips. Will definitely keep my razor blades even longer now.
Thank you
Chris, the tax rate varies on how much money you make. A lot of people are not taxed at 33% and those who are have enough money that a penny really won't make a difference.
At 23, I'm focused on making more money. Of course I pay attention to my spending, but my long-term career plans are important and I'll spend the time and money I need to make sure I can get where I want to go. I have no problem investing in myself :)
If you work enough, you'll hardly even have time to spend your money foolishly. Though I hardly recommend that path for everyone ;)
So I was soon to be in the market for my first house. I was planning on mid 2010 to collect a 20% down payment. The government made a plan and said hey 8,000 on your taxes if you do it now. After calculating the PMI and risk levels I determined that buying this year would be the smartest. I'm guessing that many are in a similar mindset. Extending the program 6 months may be helpful since it wasn't even on a full year. But the number of homes bought per tax-dollar spent will get worse and worse. We stopped the crisis, the market bottomed out, the awake people that could, bought. Seems like it worked and that now its time to be done. If the tax credit goes up to 15K and is not retro-active I might just go into foreclosure out of spite.
The credit pushed my wife and I from "maybe get a house" to "get a house". We were moving anyways, and it was close in our rent vs. buy decision.
My husband and I recently (two weeks ago) took a first time homebuyers class required to qualify for a FHA loan. It is not true that you can use the tax credit as a downpayment. That was something that was allowed earlier in the year, but it is no longer true.
If you don't need a perfect shave an electric shaver works pretty well. I've purchased two over 8 years at under a $100 each. The second one is still going strong.