So, if they sell, where will they live? Apartment? Rent is more than house payments.
December 1,2014 watchtower saying buying house is bad
by hoser 67 Replies latest watchtower beliefs
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eyeuse2badub
Why not just RENT buildings that already completed for the new World Wide WTBTS {jw.org.} headquarters. Think of the hundreds of thousands of man hours that are being spent building a new facility for the GB/WTBTS. Those are hours that could be spent preaching the goood news not erecting buildings that will probably be destroyed at the big A. LOL
Everyone should rent except the WTBTS/GB, they should build. It's like the movie "Field of Dreams"-----'build and they will come'.
What a bunch of hypocrits!
just saying
eyeuse2badub
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frankiespeakin
There is a lot of compartmentalizing going on in the writer's mind of this paragraph.
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Oubliette
My next door neighbors live in an identical condominium unit. They rent, we own. Their monthly payments are 75% higher than mine. (This is NOT including any tax benefits of homeownership).
I know this is not true in all housing markets, and their are often good reasons to rent rather than purchase a home, but those are generally shorter term concerns (3-5 years). Over the long run, it is always better to buy!
Also, at least in the United States, the interest portion of a home loan is tax deductible. This further reduces the effective cost of an individual's or family's housing expense. For example, if my mortgage is $2,100/month and my federal tax rate is 30%, then my effective housing cost is only $1,400/month.
When you factor this into the comparison with my next door neighbors, it actually turns out that they are paying 130% more per month to live in an indentical home! That's crazy!!!
Now I understand why many people do this, most cannot come up with the 30% down to qualify for a home loan. And so, the longer they rent, the behinder they get financially.
The WTBTS does NOT want its members to be independent in any way, shape or form. Like an abusive husband, they want their followers as dependent as possible.
Let's review: It's a cult!
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4thgen
The Asia real estate market is in the crapper. What happened to those poor people in the article was what happened to so many people worldwide.....They timed the real estate market wrong....they had poor financial planning and they chose buy a house they couldn't afford and borrowed the downpayment. This does not equate to lack of spirituality, it is the result of the economy and a lack of FINANCIAL EDUCATION. They needed more education to make real estate work for them...
Maybe if they took a class or two at the local college (heavens no!) instead of knocking on doors, they would be alright today! Or, if they had the genious real estate/financial planners of the WT, they would do better. But of coure the WT has to spin it all and make it look like they are unspiritual. What a bunch of crap.
They teach: "Preach....don't get an education". So, JW's make poor decisions because of the lack of education...then when things go wrong, instead of blaming the lack of knowledge, they say that it was because they are bad unspiritual people....so stupid!!!!!!!!!!!!!!!! Grrrrrrrr
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Oubliette
4thgen: those poor people in the article ... had poor financial planning and they chose buy a house they couldn't afford
While the article might imply that, it absolutely does not say that they could not afford it.
That being said, I agree that most JWs, in fact most people period, do not know how to manage their finances and plan accordingly.
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Oubliette
4thgen: If they had to borrow the downpayment, they didn't have the 20-25% saved to put as a downpayment.
But the article actually says, "So they decided to buy one with their savings and money borrowed from a bank and relatives."
There is no indication given how much they borrowed from their relatives. It could have been a lot, it could have been a little.
4thgen: Therefore, they could not really afford it.
The arrticle also does not say that. You are concluding what the WT writers want you to conclude even though they did not explicitly say this.
Many people can afford monthly payments on houses they can't purchase simply for lack of the downpayment. My neighbors, for instance, pay more than twice what I pay each month for the pleasure of living in an identical townhome. I'm sure they'd rather pay what we pay.
4thgen: They got in over their heads, as was shown by the outcome.
It also does not say this. It says, "Soon, however they began to feel the burden of high monthly payments."
Define "high."
You should keep in mind that "the outcome" of this contrived situation was deliberately designed by the writer of this article to lead you to the foregone conclusion which they have already drawn for you.
The important thing for us to learn here, is that WT writings are carefully crafted propaganda designed to reinforce their selfish goals and manipulate you into believing and thereby acting as they wish. It is important to develop the cognitive skill to recognize when you're being had.
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Oubliette
Another very important point to keep in mind when comparing home ownership versus renting is that homeowners build equity.
Every time I make a mortgage payment I own a little more of my house. Also, even taking economic cycles into consideration, property values increase over time.
Again, comparing my situation to my next door neighbors, in the 5 or so years that we've lived next to each other, my equity has increased nearly 60% of its value for that time period.
Add the increase in equity (personal net worth) to the amount I've saved in comparison to my neighbors (actual monthly payments plus income tax deductions) and it is as if I am making 70% more personal income than if I was renting as they are.
There's a terrific adage that applies in this situation: Work smarter, not harder.
The WTBTS only wants you to work for them, their way, no questions asked.
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new hope and happiness
Actually it would appear that had had a healthy deposit. Property rises invalue. Mortgages are paid off. Buying a house is usually the biggest and safest INVESTMENT a person makes.