You can get a credit line and keep it at zero, and it's there for emergencies. Pretty much walk up to a bank and ask. If you have a heart beat you should be able to get one. I got one around the same time I bought my house so I can have a buffer if anything comes up.
Wages are fine, it's the costs of living that's the problem, it keeps going up each year which means that even a good wage doesn't go as far anymore. I mean, sure it would be nice if megacorporations paid their employees like 60 bucks an hour just because they can afford it, but guarantee they would still raise their prices which in turn just refuels inflation even more. Increasing wages is not the answer, reducing the costs of living is. It would be nice if you could actually save like half the money you make instead of like 95% of it going towards basic costs of living. Lowering taxes, eliminating CPP, EI and all the other deductions would help a lot too as that is the biggest cost of living we have. Look at your gross pay cheque, imagine actually getting to pocket all of that money.
Won't have anything like a subprime mortgage failure with the causes for that being regulated. Some other form of consumer credit/loan crisis, maybe. The data is lining up.
Auto loan delinquencies are also up year over year. People taking out loans with monthly payments out of line with monthly income at crazy rates and duration.
lolfuck how god damn ignorant can you be?
I think going through twenty years of negative real interest rates on savings accounts soured people on them. With the Fed handing out free money to the banks, the banks saw no reason to offer anyone interest.A line of credit also helps keep people in debt. An emergency fund in a money market or high yield savings is obviously the way to go. You'll earn money just letting it sit.
A line of credit also helps keep people in debt. An emergency fund in a money market or high yield savings is obviously the way to go. You'll earn money just letting it sit.
He's on a quest to answer that exact question! Doing a bang-up job, too.lolfuck how god damn ignorant can you be?
I don't see how its the average working class person's fault that housing is ridiculously price gouged.The average middle-class person in the US is getting squeezed from every angle with mortgage, auto loans, and credit cards. Most of it being their own fault. It's not sustainable.
So what I'm seeing is a) there is a massive housing shortage b) capitalists are fucking ghoulsOne of my wife's many hats is on our section 8 housing authority board, in podunk S.C. The powers that be (government, I assume) said they weren't giving enough $ on vouchers, peeps couldn't find places to rent. The new rate was raised to $1200/mo. And rent in the poorer areas went to....$1200/mo. Imagine that? Now, peeps with no assistance are doubly fucked.
My personal experience has been that I have never had (or been offered) a line of credit that is free, in fact I have noticed a whole lot of hidden/buried costs in the ones I've looked into. OTOH getting a totally free credit card is super simple and passes your heartbeat test. The trick is personal discipline-keep that card and don't use it except a purchase every few months to keep it alive (and pay in full every month which goes without savings).If you have extra money this is the way to go, but if you don't, a credit line is still better than a credit card. But you also need to be disciplined. Just because you have credit available doesn't mean you should go out and spend it on something you don't need.
I've had section 8 rentals 20 years ago. Won't do that again. Tenants don't give a shit when they have no skin in the game. So they fuck it up and the owner has minimal recourse in SC. Ghouls renting to section 8? More like gluttons for punishment, imo.So what I'm seeing is a) there is a massive housing shortage b) capitalists are fucking ghouls
I was talking to my brother in law about renting my house if I moved. I'd charge basically the bare minimum (costs + maintenance ).
Because if I wanted to turn it into meaningful passive income, I'd be contributing to housing sustainability problems.
I spent a lot of my time growing up in military housing (for the enlisted, not officer's housing), and have seen the inside of quite a few barracks, and I think most of them were pretty decent.The distinction between public and private is really a false dichotomy when it comes to real property. Whoever is the "owner" is under an implicit legal obligation to make that property economically beneficial to the state. As such, adverse possession and squatting are concepts that legally compel people to make sure they just don't leave things sitting around. Then there's off-the-record crimes like vandalism committed by those in the know to speed up the process, by government employees' associates or friends of realtors.
The government as landlord shows its worst in military base barracks.
and this is in the constitution or CFR where?The distinction between public and private is really a false dichotomy when it comes to real property. Whoever is the "owner" is under an implicit legal obligation to make that property economically beneficial to the state. As such, adverse possession and squatting are concepts that legally compel people to make sure they just don't leave things sitting around. Then there's off-the-record crimes like vandalism committed by those in the know to speed up the process, by government employees' associates or friends of realtors.
The government as landlord shows its worst in military base barracks.
Not true. Your city/county can claim eminent domain.and this is in the constitution or CFR where?
as long as you pay your taxes, you don't have to do shit with your property.
Hey, I'm the asshole around here.lolfuck how god damn ignorant can you be?
Not true. Your city/county can claim eminent domain.
eminent domain is the exception, not the rule.Not true. Your city/county can claim eminent domain.
Welcome to the jungle....
Side story, company wanted to run a gas line across SC to the coast. Previously, they had a major leak, so the peeps weren't in favor. It was already mapped to run through my in-laws farm. Sis in law asks about the graveyard. What? Yeah, the family graveyard that you want to run through....the project was cancelled, not from 1 graveyard, but prolly 100s. In SC, you can designate a part of your land to be a graveyard and that's the end of that.
Don't know why you're being condescending when what I said is true. Getting a credit line is not some weird process that's only obtainable to few. It's easy. I literally parked my car at the bank, walked in, asked to open an account, a credit line being one of those accounts, and had everything settled in less than half an hour. It's really not that complicated.