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Re: Very Intersting RE Bubble Perspective - The Fool Strikes
Old 10-28-2006, 10:08 AM   #41
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Re: Very Intersting RE Bubble Perspective - The Fool Strikes

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Originally Posted by Zipper
I thought you were in Canada Bosco?

We do pay higher taxes here. You get what you pay for. Maybe you should be in Ontario.
I'm a dual citizen. I'm working in Alaska until 10/07 (seasonal, but this season keeps dragging on and on...). My house, wife, dog etc. is in British Columbia. In a typical year I am home about 5 months of the year. I've only been in this situation a couple of years. I have to understand the tax laws of both countries to keep from getting creamed. The laws as they relate to SS, CPP, OAS, etc. get complicated in cross-border situations.

The funny thing is, although the tax structure in Canada extracts more taxes out of you while you are working, it's a fairly tax-friendly place to retire.

Besides, if you consider the medical premium that you or your employer pays in the States to be part of your tax burden, I'm not even sure the taxes as that much higher in Canada for middle-class income rates.

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Re: Very Intersting RE Bubble Perspective - The Fool Strikes
Old 10-28-2006, 10:32 AM   #42
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Re: Very Intersting RE Bubble Perspective - The Fool Strikes

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Originally Posted by Texas Proud
I keep saying that the federal govmt need to balance the budget without using the extra SS money.... spend it on whatever you like, but just spend what you make.... will not happen in my lifetime...
As for the annual US federal budget, it already has. Back in the 90s we HAD a balanced budget.

However, even if we have a balanced budget again, I don't believe that we will have it balanced for more than 3 years in a row.
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Re: Very Intersting RE Bubble Perspective - The Fool Strikes
Old 10-28-2006, 02:37 PM   #43
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Re: Very Intersting RE Bubble Perspective - The Fool Strikes

Quote:
Originally Posted by Zathras
As for the annual US federal budget, it already has. Back in the 90s we HAD a balanced budget.

However, even if we have a balanced budget again, I don't believe that we will have it balanced for more than 3 years in a row.
IMHO, having a balanced budget would be nice, but the real problem is the national debt.
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Re: Very Intersting RE Bubble Perspective - The Fool Strikes
Old 10-28-2006, 06:06 PM   #44
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Re: Very Intersting RE Bubble Perspective - The Fool Strikes

Quote:
Originally Posted by jazz4cash
Statistics don't show it, but I seriously doubt prices are holding in DC. Builders reported very high cancellation rates here recently and most have standing inventory for the 1st time in 5 years or so. They are making concessions that are not reflected in the contract price. Existing home sales prices appear down a "bit", but that never factors in how long they sit prior to getting a contract.
Jazz - I hope you're right, as I'm in the market for a new place, but I still see prices holding. Builders seemed really worried a couple months ago, but now they believe demand is picking up again. Stuff has been on the market awhile (DOM 250+) but sellers dont want to reduce prices. It will break one way or the other, hopefully soon. The numbers came out this week as prices down / sales up and it's still 6.x% for a 30 year note (pretty cheap). In particular I know a whole bunch of people who had ARMs reset on them and refinanced into 6-7% 30 year fixed notes. I know there was a lot of speculation that by the time their ARMs reset the cheapest money would be 9-10%. My prediction is that if the Fed raises rates, prices will slip, and if they cut rates, prices will remain steady. Prices will probably hover where they are until the Fed makes clear which way it wants to head or until a recession hits.
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