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Originally Posted by JJRousseau
Totally agree. But most politicians earn less than the average doctor  and so are not in that higher group.
I do believe, conspiracies aside, that there is a much higher group of individuals who have the enough money to effect social policy and do so simply do create more money for themselves. |
*nod*, to increase their high score. I wonder if the collapse of inflation has caused the high-score craving rich to start manipulating politics in ways that allow their score to keep climbing?
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Mr Russell is a well known Libertarian.
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Heh, not by me. The little I quickly read made him sound like a pontificator, I couldn't tell of what flavour.
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A perfect world - IF the general will is derived from a community of like-minded Libertarians.: " a form of association which defends and protects with all common forces the person and goods of each associate, and by means of which each one, while uniting with all, nevertheless obeys only himself and remains as free as before."
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Oh wow, this guy is on crack. He expects societies of people to govern by consensus? Didn't he pay any attention to the failure of large-scale commune-based government?
Consensus is hard to manage on a single family level -- hell, on a couple level.
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Yes, my family comes first.
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My point is, benefits to "my family" can
become benefits to "me".
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My comment wrt to rent to own was in reference to the inability of many people to be able to save up the down payment to qualify for a mortgage. So you have to either live for free (understanding parents) or save down payment $$ while paying rent in order to get the 25 % dp required to get a mortgage. So it may be a long term loan, but at least y oiu would be building equity as you went along. Similar to mortgages, but more time involved.
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You would be building equity as you save up your down payment while paying rent.
I suspect part of the down payment requirements are there to place some of the real-estate downside risk on the property owner, instead of squarely on the bank's shoulders.
If you bought a house with 0 down payment, and the price of the house dropped by 25% the next day, you could get almost scot free by going bankrupt. If you have folded a huge chunk of change into the house, your expose to real estate downturn risk is larger, which makes the bank feel happy fuzzy joy joy.
But, that's just a guess asto why.
I do know in Canada you can make do with extremely small down payments if your income stream and credit is good enough. There is the annoying extra 'morgage insurance' you have to buy in that case (which is about 1% of house value -- a rather large chunk of change). As low as 5% down.
I have heard that the encumberance of your down payment (ie, getting your down payment by making yet another loan) is less of a problem nowadays than it was in the past.