Delete comment from: Captain Capitalism
Owning a home certainly isn't an investment. I had to learn that the hard way. And Minneapolis taxes (of all kinds including property and "fees") are a stone cold bitch.
But lets say I get to retirement age (ha, ha, I know but imagine with me). Paying inflated $$ rent out of non-inflated fixed income $$ looks pretty scary. I'm not making money on the house, and I could certainly get taxed out of it (we're working to sell and move into less a tax stupid jurisdiction), but not having the rent payment at all in 13 years feels like a good position to be in...
I've always wondered why sales tax wasn't good enough. I know it's because the up front number would kill too many deals, but at least "doing business" in a tax jurisdiction has some basis in the value add of where you're doing the business.
Aug 1, 2012, 12:41:27 AM