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"Brutal Choice in Houston: Sell Home at a Loss or Face New Floods"

By HEYYOU following x   2018 Apr 5, 11:01pm 613 views   9 comments   watch   sfw   quote     share    


No housing bubble! Get a Trump deal.

Republicans in Red State Texas would never let this happen to their fellow Republicans.

https://www.nytimes.com/2018/03/30/us/hurricane-harvey-flooding-canyon-gate.html?ref=oembed
1   drB6   ignore (1)   2018 Apr 6, 8:08am   ↑ like (0)   ↓ dislike (0)   quote        

House can be jacked up 4 feet, which will make neighbors house flood next time. This is RED STATE REPUBLICAN solution.
2   Tenpoundbass   ignore (11)   2018 Apr 6, 8:25am   ↑ like (2)   ↓ dislike (0)   quote        

Houses on a 100 year flood plane shouldn't be any more than $120K for a 2100 sqft house.

Smaller houses even less. Price is the only reason to live in a flood zone, only moron self serving city Liberal property appraisers would allow it do so otherwise.

Quit being greedy, the median home price in America should be $100K or less anyway. It will be when we get rid of the 11 million illegals putting undo price pressures on our lives.
3   drB6   ignore (1)   2018 Apr 6, 8:29am   ↑ like (1)   ↓ dislike (0)   quote        

Tenpoundbass says
ouses on a 100 year flood plane shouldn't be any more than $120K for a 2100 sqft house.

It is more complicated. In last floods, many places which were not in 100 yr flood plain were flooded. Many that were not in 100 yr flood plain did not flood, which somehow makes me doubt the accuracy of these flood plain surveys.
4   P N Dr Lo R   ignore (0)   2018 Apr 6, 8:33am   ↑ like (0)   ↓ dislike (0)   quote        

drB6 says
100 yr flood
That happens every four or five years. They have to keep resetting the century start date.
5   CBOEtrader   ignore (2)   2018 Apr 6, 9:15am   ↑ like (1)   ↓ dislike (0)   quote        

Buy flood insurance then deal w it. Problem solved.
6   HEYYOU   ignore (13)   2018 Apr 6, 9:31am   ↑ like (0)   ↓ dislike (0)   quote        

Socialist Federal flood ins. that Rep/Cons love.
Taking Rep/Con tax dollars,who aren't in flood plains and handing it to Rep/Cons that are stupid enough to live in flood plains.

"The National Flood Insurance Program (NFIP) is a key component of the federal government’s efforts to limit the damage and financial effect of floods. However, it likely will not generate sufficient revenues to repay the billions of dollars borrowed from the Department of the Treasury (Treasury) to cover claims from the 2005 and 2012 hurricanes or potential claims related to future catastrophic losses. This lack of sufficient revenue highlights what have been structural weaknesses in how the program is funded. Since the program offers rates that do not fully reflect the risk of flooding, NFIP’s overall rate-setting structure was not designed to be actuarially sound in the aggregate, nor was it intended to generate sufficient funds to fully cover all losses."

https://www.gao.gov/highrisk/national_flood_insurance/why_did_study
7   Evan F.   ignore (0)   2018 Apr 6, 10:33am   ↑ like (0)   ↓ dislike (0)   quote        

Tenpoundbass says
Houses on a 100 year flood plane shouldn't be any more than $120K for a 2100 sqft house.

Smaller houses even less. Price is the only reason to live in a flood zone, only moron self serving city Liberal property appraisers would allow it do so otherwise.

Quit being greedy, the median home price in America should be $100K or less anyway. It will be when we get rid of the 11 million illegals putting undo price pressures on our lives.

can't tell if joking? otherwise:
8   Tenpoundbass   ignore (11)   2018 Apr 6, 11:50am   ↑ like (0)   ↓ dislike (0)   quote        

Evan F. says
can't tell if joking? otherwise:


No you heard me right Jose.
I make no apologies for being American.
9   deepcgi   ignore (0)   2018 Apr 6, 12:46pm   ↑ like (0)   ↓ dislike (0)   quote        

After my father died, my mother had housing issues in Houston. They had paid off the mortgage years earlier, but the home had since quadrupled in value. Unfortunately, so had the Texas property taxes. Her yearly taxes were $5500, so along with the utilities and maintenance in frying-hot Houston, she had to have a thousand dollars a month to continue living in the house she had no mortgage on.

The irony here is that this was 36 years ago! The oil-boom property bubble in Houston burst around that time, so while the housing values had quadrupled, and the property taxes were raised to match, after home prices fell again, BY 60 PERCENT, the taxes of course were not lowered to match! So she ended up having to sell the house for half what it had been tax-appraised for.

Now that same house flooded along with the whole neighborhood in the recent bad news. I see that the current owners paid $7100 in taxes last year, and that homes in the area are struggling in sales.

When I think of how much money in taxes the local government has pulled in on those Houston neighborhoods for the past 35 years, it looks like more and more of a crime that will go unpunished. How much of a home and a lot will 7100 dollars get you in Seattle or Portland or Reno or Madison, today, I wonder? All that tax money, at percentages twice as high as many other places in the country, and yet it avails nothing.

Oh, and they bought the house in 1973. It had never flooded until the hurricane last year.




The Housing Trap
You're being set up to spend your life paying off a debt you don't need to take on, for a house that costs far more than it should. The conspirators are all around you, smiling to lure you in, carefully choosing their words and watching your reactions as they push your buttons, anxiously waiting for the moment when you sign the papers that will trap you and guarantee their payoff. Don't be just another victim of the housing market. Use this book to defend your freedom and defeat their schemes. You can win the game, but first you have to learn how to play it.
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