Same here. The people who do all the work have to drive a long way to do work here.

They are talking about putting "workforce housing" in a new development in our area. People are upset because they think its going to be low income housing. But, you will have to earn $60K-$80K to afford the rent. Thats low income housing now.

I'm assuming this is probably happening in a lot of places here in the USA not just in your and my areas.

All debt is still bad
Credit Card use is OK as long as you never carry a balance. If you carry a balance you should be using cash or debit cards as you are not disciplined enough to use credit.

Everyone’s situation is different. So credit card use is different for everyone as well. You can’t place what works for you and state that’s what everyone should do as well. It’s silly. You are assuming that because someone doesn’t pay off their credit card bills monthly means that they are undisciplined. Again, that is just not correct. I don’t like carrying credit card balances, but that’s my situation and what works for me.

2.5% mortgage rate.

Not bad debt as I put 25% of my salary into investment accounts.

$6k down on a $200k house. Now worth about $500k. Such bad debt.

https://c.tenor.com/80zMDyE85hAAAAAM/money-crying.gif

Math isn't for everyone.

Yeah, that’s just ignoring math. He assumes all people don’t understand how to
manage debt. I have a $2MM commercial line of credit with my bank. I could use my money to manage my business, but why would I? My interest rate to borrow vs what I can make on my money in the market is a wide spread.

He’s swallowing far too much Dave Ramsey, which is primarily good for people that can’t manage (or understand) debt.

Yeah, if I didn't use leverage I'd probably farm like 500 acres. And own none.

Dave Ramsey is unequivocally not applicable to business.

He's a truck driving Raiders fan. Cut him some slack, you savage.

Yup and imagine the folks who bought rental investment properties and literally had other people paying off the mortgage to build their equity along with tax write off, depreciation and finally selling for more appreciated value in a sellers market?

Ditto. I just use borrow money for business purposes which is smart business and tax wise.

Ok, so say the Raiders needed to buy moving trucks.

They could just save up the money for these moving trucks, but that could take time.

So, what if you financed these moving trucks at say 3%. After all, the Raiders are return customers and provide good business, so despite having a residence history longer than a CVS receipt, they would get a decent rate.

And now you could move sooner and start swindling an entirely new fan base in no time. Your rate of return in this new market is through the roof, far greater than the 3% being spent on moving truck interest.

And guess what, you now have the option of paying off the trucks sooner with the profit from the new location instead of digging into existing funds, while still making money that never would have been made had you waited to save for the trucks in full, AND now you'll be that much further ahead and could even pay for new trucks AND upper deck tarps when you have to skip town for Oakland in a few years.



...does that help? :shrug: