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View Diary: Morning Feature: Low Taxes: Pennywise and Pound Foolish? (155 comments)

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    NCrissieB

    If you want me to go into it.  You have a domicile you bought (or was assessed for) about $725K, in the Chicagoland area, depending on where you are.  That is seven times your income, which is, how to put it, risky in today's environment. It may be a condo. You may have had this for a long time, or you may be close to underwater.  Either way, you chose to take permanent equity out of your house to pay for a temporary thing (cars don't last forever).  This is an odd time to leverage something like that.  Also, you misrepresented your numbers by not mentioning you had drawn against equity - but we all saw though that.  It's a little weird to whine about your taxes when you're spending like someone that makes much more than you.

    Contrast that with what I'm doing - I bought a duplex in the fun part of Milwaukee with a total value of twice mine+my spouses income, and our housing expense is down around 15% of our income... we don't make what you do, but I'm able to do smart things like buy the cars I like outright.  It's called living within your means.  So, yeah, I think people like you helped cause the housing bubble/collapse.  Good job!

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