jump to navigation

Housing Package: Some Sanity April 9, 2008

Posted by pf in Taxes, Uncategorized.
Tags: , , , , , , , ,
1 comment so far

Today I read an article from Newsweek entitled “Tax Breaks for Bubble Heads“. In it, the author, Daniel Gross outlines “Congress latest dumb idea to fix the housing crisis”. Although I think this thing has too much momentum to stop, I take some small consolation that there are voices of reason trying to be heard. If you share similar views, I encourage you to write about them…maybe the chorus will grow.

Advertisements

Housing Fix April 3, 2008

Posted by pf in Expenses and Savings.
Tags: , , , , , , , , ,
6 comments

Our federal government is moving at blazing political speed to finalize a $15 Billion band-aid to relieve some of the pressure wrought by the sub-prime mortgage mess. The potential provisions include the following:

  • Tax breaks for home-builders (up to 40% of the $15 billion cost)
  • Tax credits ($7,000) for purchasing homes already in or facing foreclosure
  • Additional property tax deductions for those who do not itemize their tax returns ($500 single / $1000 joint filers)
  • $4 billion for states to buy and rehabilitate homes
  • $100 million for counseling of homeowners at risk for foreclosure

While I can appreciate the difficult situation our politicians find themselves in (they gotta do something about this if they want to keep their office, don’t they?), I remain generally opposed to the whole thing.

(more…)

Some People Are in Bad Shape March 22, 2008

Posted by pf in Expenses and Savings.
Tags: , , , , , ,
2 comments

Today I ran across a piece on CNNMoney entitled America’s Money: In their own words.  It was 19 quick snapshots about different people’s current struggles with money.  In a word…depressing.

While it’s no secret that Americans are over their heads in debt and many are struggling financially, to read them and see their photos really brought it to life.  I read each and every one.  At the end, I found myself very thankful that:

  • I am gainfully employed
  • I have adequate health insurance
  • I have virtually no debt except for my mortgage

Although all financial hardships can not be avoided, it is clear that many situations are easily prevented.

SPEND LESS THAN YOU EARN.

Common sense, yes?  Unfortunately, the old saying that “common sense is not so common” rings loud and true in personal finance as in life.