vania-janet/multiturn-rag-retrieval-data huggingface dataset:
"This is the best tl;dr I could make, [original](http://www.slate.com/articles/business/moneybox/2017/07/why_can_t_americans_get_a_raise.html) reduced by 94%. (I'm a bot) ***** &gt; While several states raised the minimum wage, the federal wage floor remained stuck at $7.25.  &gt; Someone out of work for a year-and who had difficulty making mortgage payments as a result-is more likely to take the first job he could get, try to hold on to it for dear life, and accept poorer wages because the alternative to not having the job is difficult to imagine.  &gt; Policy can certainly help: The $15 minimum wage movement we&amp;#039;re seeing in many cities and states will certainly push some employers to raise wages.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/6ncd7p/what_westaboos_dont_wanna_see_why_cant_americans/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~166969 tl;drs so far."") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **wage**^#1 **work**^#2 **job**^#3 **company**^#4 **American**^#5"
The time horizon is usually very short for a home down payment. I would use Certificates of Deposit (CDs) with a short maturity (in the horizon of your intended use) or Money Market accounts. Depending on what the interests rates are where you are looking. You don't want the money in the market 100% (i.e. stocks) as the fluctuations might be too wide around the time you intend to pull the money out (and that will be soon).
You are kicking butt and taking names, especially compared to most people in your age bracket. I wish I'd had the opportunity (and the sense) to live rent-free and max out my 401(k) when I was 23. Keep doing what you're doing and you'll be able to pull off a Mr. Money Mustache style retirement.  I think you might have misunderstood the question and answer nature of this site. Typically, questions aren't laden with answers, explanations, and suggestions; it should just be the question! You can always ask the question and answer it yourself down below, as some SEers do. To answer your questions towards the end of the post: Good luck, and again, keep doing what you're doing!
Since you're a minor, this would come down to your sister lending you the money, possibly taking out a loan herself to do so.  If you can't wheedle her into doing so, then the only help she can give you is to help wheedle your parents.
"There are far more questions to be addressed here than one answer can address. Let me work backwards, and start with the easy part - ""I make $120K/yr, what can I afford?"" You are making $10K/mo. A great income. A well written mortgage will allow you to use 28% for housing, that's the mortgage, property tax, insurance, and HOA. On $2800, let's take out $500 for prop tax, and just $300 for insurance. I'll even ignore HOA for now. The remaining $2000/mo will fund a mortgage of $400K. That's not close to a $700K condo.  A $550K mortgage would cost $2800/mo, and $3600 with tax and insurance, $4100 with HOA. Over 40% of your gross and a sign that you are in over your head.  The real question is why you'd want to do this. $1600/mo rent means you can save $2000/mo in addition to what you already save if you stay put."
"&gt; why we should compare the minimum wage with the average rent is unknown.  Um, because, since the 60's, ""poverty"" in the U.S. is measured against expenses and ""the cost of living,"" of which housing is a major component? Because the ""30%"" rule has been around for decades? Whether you agree with the ""30%"" line or not, pleading ignorance of it only serves to show that you absolutely do not know what you are talking about, and your piece is worthless nonsense which serves only to muddy the waters."
sheegaon's reply looks fine to me, a HELOC can usually be set up for a minimal ($50?) fee, and is currently a pretty low rate, mine is 2.5%.  If this doesn't appeal to you, my other suggestion is a 401(k) loan. While this is usually a last resort and 'not' recommended, a short term use may make sense. The rate is low, and you can pay in back in full after moving into the new house.
Subprime lenders who are also known as high risk home mortgage lenders offer service to people having poor credit. Through the website of the lenders such as http://www.highlandsmtg.com/, you can ask for quotes by just asking few simple questions. These quotes will help you in narrowing down your list of mortgage lenders who can be finally approached.
"A short-sale seems like an extreme and unethical course to take.  You should read your mortgage documents or work with your attorney to read the mortgage and determine whether it is an ""assumable"" mortgage. If so, you might be able to get the former owner to take over the mortgage."
Was minimum wage ever thought of a livable wage? It was low 18 years ago. I lived at home, had no skills and worked at McDonalds.  From there I gained skills and work experience to use at the next job which was not minimum wage.
"Yes, it's unreasonable to think the prices will drop 10-20% in that time frame. Housing prices are not an equation that can can be solved to ""home prices are X% overvalued."" You have 3 answers so far, Quanty's ""prices are inversely proportional to rates,"" Rob's ""there's no strong correlation between interest rates and house prices,"" and MB's, ""rising interest rates create downward pressure on housing prices."" Any research into price history had better take every other variable into account. Articles that look at rates vs price don't always address a key item, income. Say we agree that the data show your city to be 10% too high. But if sellers like their high price and have some 'dig my heels in' power, prices won't drop. The seller simply stays put, and the supply/demand curves result not in a lower price, but in less supply. And the effect is to change the demographic of that area, i.e. attracting higher income earners. Rob linked to an article with a nice set of charts. One chart showing the US30 yr fixed rate and 'Real House Prices'. What results is a chart that can refute the relationship between rates and prices. But that would ignore an historical point that's too important to forget. The tumble that started in Jan '06 had nothing to do with the 30 year rate. It was the result of a series of insane financial products including 'interest only option ARMs' which permitted buyers to get approved for a purchase based on a payment that wasn't fixed, and would change to a fully amortizing mortgage at a higher rate that was unaffordable. A product that was a financial time bomb. Canada Banks offered no such product, and when the US market got pneumonia, Canada experienced a mild cold. With respect to any answers that offer US centric data to prove any hypothesis, I don't feel such comparisons are appropriate. Correlations, and the data used to prove them are an interesting thing. I can suggest that you take the US 30 year rate, along with our median income, or rather 25% of monthly median income. Calculate the mortgage that results.
Taking a slightly different approach, I would have the following priorities: I'm not sure it's worth the hassle to renogotiate either the HELOC or the mortgage if you think you are only going to have them for a year. If you can renegotiate the HELOC with the same lender that might be worth it.
&gt;The Great Recession -- including the housing and stock market collapses -- wiped out nearly 30 years of net worth gains for the typical household.  So, stock market drops, rich get richer. Banks crash, rich get richer. Wars rage on, rich get richer. But the middle class loses 30 years. Hmm.
The RRSP is like our 401(k), right? money goes in pre-tax?  I'd go with that. Over time, you stand a near certain chance to get a better return than your mortgage rate.
The cost of an extra 30 days is $1459.80
As others have stated, it will be very difficult for you to turn your friend around. He has already demonstrated great commitment. What can I do? There may be other people (perhaps mutual friends of you and this man) who are in danger. He may try to get them into this (as he apparently tried to with you). If this was me, I would try to warn the mutual friends of me and him. It's easier to get to them before they have been exposed to the brainwashing. So I would: Yes, I realize this means you're going behind his back, talking to his friends, etc. But I believe these people also deserve to be warned. They are in danger of being adversely affected by what he is doing.
I would go see a Lawyer no matter what. It's a form of a scam your parents are doing. Make sure it's YOUR name only on the title of the building if it is, then you have a MAJOR case against them. This is a form of Equity scam, in where you aren't really going to make hardly any money. Once you pay them that money towards the loan legally their stake needs to decrease according to what you said. ABSOLUTELY CONSULT A LAWYER!
With Mint you are without a doubt telling a third party your username and password.  If mint gets compromised, or hires a bad actor, technically there isn't anything to stop shenanigans.  You simply must be vigilant and be aware of your rights and the legal protections you have against fraud. For all the technical expertise and careful security they put in place, we the customers have to know that there is not, nor will there ever be, a perfectly secure system. The trade off is what you can do for the increased risk.  And when taken into the picture of all the Other* ways you banking information is exposed, and how little you can do about it, mint.com is only a minor increase in risk in my opinion. *See paypal, a check's routing numbers, any e-commerce site you shop at, every bank that has an online facing system, your HR dept's direct deposit and every time you swipe your debit / credit card somewhere. These are all technically risks, some of which are beyond your control to change.  Short of keeping your money in your mattress you can't avoid risk.  (And then your mattress catches fire.)
You can do many things: Risk free: Risk of losing:
"People have lost money buying houses in good to great neighborhoods.  It's a pretty large red flag that you state this so clearly ""the neighborhood is pretty bad."" I'd rather buy a bad house in a great neighborhood, and spend my weekends fixing it up, turning sweat equity into real equity. A two year bet? I'd pass.  Close to the school, high demand area, and my answer might change.  (And, ""welcome, stranger"")"
"My bad. I meant to say within my circle of immediate social influence; as in people I know face to face.  I'll have to buy some more before they go away again.   I've always wanted to try ""deep fried"" style--though, I may regret it."
Here's a start at a high level: I have a few friends who have made a killing on GLD, and write options to make money off of the investment without incurring the capital gains penalties for selling. That's a little out of my comfort zone though.
I think the personal information part of this is key. Anyone that's tried to operate a home business understands the catch-22 of advertising your home address. My home phone rings all the time with salesman trying to lease me copiers and sell health insurance plans. I also don't want the damn FedEx man at my front door at 8:00 am with a priority package. I'm also an attorney and I don't want needy clients showing up at my house. My point is, Facebook sells my personal information and I prefer they wouldn't. LinkedIn sells my commercial information ad I prefer they would.
Thank you for your service and sorry to hear about your experience.  I have a number of family and friends who had varying levels of civilian career success upon leaving.  Some good, some bad. They all came out stronger-willed, confident, some with college (that was mostly paid for) and with other transferable skills that made them stand our from their civilian counterparts.
I really can't wait to buy a McMansion for 35% of its value when the economy bottoms out. They'll be crying they didn't sell and I'll offer them a onetime cash offer.   I won't be mean or try to screw over, I just will feel no pain or remorse for ripping off a baby boomer owner in the housing market.   That's the Millennial revenge. Too bad we're still 5 or so years out.
But there is a number one here, the Community Reinvestment Act which made it too easy for unqualified people to get home loans, pushed by Bill Clinton, who i strongly supported during his presidency.   I clearly remember thinking 'the economy will boom for a few years, but this can't end well'.
"Trust me, so am I.  We really had *feared* the scenario you painted -- everyone in the HOA has been very pleased that it didn't happen that way.  My point isn't that you are wrong (I think in some markets what you are talking about undoubtedly IS happening) -- rather that it isn't necessarily happening that way everywhere.  Indeed, some of the people who have bought in our area were people who seem to have a more ""frugal"", solid, long-term mindset, and who had rented throughout the bubble years, often despairing of ever being able to afford a home (but being unwilling to pay the high prices/go deep into debt w/o any equity at all, so they simply endured it and saved {and saved}, hoping to someday... and their patience has been rewarded, some have been able to use what they thought would merely be a modest ""down payment"" to nearly buy the houses outright, taking on minimal debt and then using that to refurbish the homes)."
you should see the amount spent on 2 rotations of troops at home to support the 1 rotation overseas, as well as the necessary infrastructure to support those troops, home and overseas, as well as all the equipment and maintenance of equipment that is included in that blackrock contract, as well as housing, meals, medical, medical for families, pensions, and long-term care afterwards. http://www.cbo.gov/ftpdocs/96xx/doc9688/MainText.3.1.shtml#1089499
It was originally sponsored on 5/11 by Marco Rubio along with 4 other Republicans and 4 Democrats. It passed through both houses with relative ease. Lets not make this out to be some tough piece of legislation Trump had to fight for. This is something he signed on his way out the door to another golf trip.   And lets not forget the president is cutting disability pay for 225,000 veterans who are retirement age. This cuts what these veterans live on to about $1100 per month and saves a mere $3.2 billion while discretionary spending in the department has increased over $4 billion.   But go on and cheer the Secretary's ability to hire and fire people easier.
It's good friend. You seemed like a nice person when I was glancing through your history, which isn't what I could gather from the other guy (or what a person could probably gather from mine).   I'm just on edge for a midterm today, and spent far too much time sharpening the fangs in my reply last night.  I have Turkish nephews because my sister married a Turkish exchange student some years ago.  I remember staring at my screen one afternoon almost exactly a year ago, and worrying over them because I couldn't contact her during the first hours of the coup. Having to live in a country like that would be extremely unsettling for me.  I wish you the best of luck.
"I for one am happy that the most selfish generation (a little hyperbole) is retiring.  Still won't be holding my breath. They may choose retirement to cash in, only to come back as a ""Consultant"", at same/better pay.  Of course, their retirement benefits will continue as before."
Perhaps this will prod the administration to form some sort of new-era WPA to put a lot of people back to work. There will be a lot of retired military returning soon, adding to the unemployment problem. The country's infrastructure is falling apart. Putting a whole lot of people to work fixing things would be a very good thing.
Militaries members are duties in the rural area and they can offer to live the rural area in the off-base houses. They are so expensive. But all the Military Housing Rental charges are not equal. In the rural area, there is a lot of peace and prosperity or financial battles.
Agreed. In his current situation, I'd expect OP would find the most personally fulfilling use of his freedom to be spending his time (and not his money) helping people that he is able to help.  He mentioned he was a cop.  Maybe he'd have the insight needed to help get kids out of gangs.  Or, help improve relationships between cops and rough neighborhoods. Doesn't have to be a cop thing. That's just all I've got to work with.
Dan - there are other choices. What rate do you have on this mortgage? And what is the value of the home? With a bit of patience and effort, you may be able to lower your rate and save some portion of that $100k you think you can grab.  There is no factual answer here. The negative will show for 7 years, and only you can determine whether that's worth it. If in that time the value comes back you may very well be in a worse position, looking to buy a new home that's now well above where it is today. It's possible the current prices are overshooting on the downside, if unemployment drops and consumer confidence returns, you may be back to break-even sooner than you think. As an aside, I find it curious that the Trumps of this world can manipulate the system, creating multiple entities, filing for bankruptcy, yet protecting his own assets, and his wealth is applauded. Yet, asking the question here so many attack you, verbally. The Donald has saved himself billions through his dealings, I don't judge you for asking this question when it comes to $100k. When Trump's net worth was negative, he should have had his property taken away, and been handed a broom.
I almost admire the people who are still able to believe in it, I admire the power of their faith. Dick cheney is a hero for america whether america likes it or not because he does so much to keep the momentum of the machine going--if the reality of the world without those systems is too scary then dick cheney is a hero for that person, for that person's tacit participation in it or fear of figuring out what that means for them. It removes the experiencing of huge parts of life. Compounded with the quality of food, water, air required to keep everyone in an air conditioned office of amoral consumption industries, I think the back being sore from digging and herding is worth more than carpal tunnel syndrome and fucked feet/legs from the desk. And remember to roll a tennis ball under your feet for a few mins every day to stretch your fascia! It tickles! Thank you very much."
Military members are duties in the rural area and they can offer to live the rural area in the off-base houses. They are so expensive. But all the Military Housing Rental charges are not equal. In the rural area, there is a lot of peace and prosperity or financial battles.
They can't. It looks like they are using the average numbers per family for the cost of education, fire, police, and emergency services. It also says subsidized housing...but I can't confirm that non-citizens can get subsidized housing (without breaking any laws).  Personally, I would rather our firefighters not have to check ID's before they do their job. Also, I would much rather have educated immigrants than denying them education and then dealing with all of the problems that come with lack of education.
"She can't afford the house she's living in either. A $2,200 payment is about a $400K to well over half a million dollar home depending on her interest rate. Her housing costs should be at most 30% of her take home income, which is about $1,020 and would ***ONLY*** allow her to be able to afford to share a multi-bedroom apartment in Santa Cruz. Homes start in the $400K Range in that areas and go into the (tens of) millions of dollars.  The $700/ month loan issue is bad but that house is going to be the final nail in the coffin the moment home repairs need to be done and she can't afford to do them.  Personally I gave up trying to make the housing situation work out here in the Bay Area. My rent is jumping from $2,300 to $2,600 next month right over the hill in Santa Clara. I decided to buy a decent, modest, house in a great city the Midwest. Mortgage before property taxes and insurance is only $1,100. Out here in California it would be valued at an $800K to $900K home easily with  close to a $5,500 mortgage payment. No thanks.  If anything these articles are a good example of people playing fast and loose with their personal finances. The woman in the article is simply living beyond her means. Credit lets you pretend that you're of larger means than you really are for only so long. I made the choice to fund my retirement and pay off a home, rather than sunshine and  close proximity to the beach.   As the woman in the article mentioned: &gt;""I will be working *for as long as I'm employable*. I will never be able to retire,  At her age it may not be very long until she finds herself unemployable. She's right about never retiring, she spent her retirement living some place she couldn't afford to live, while obtaining an education she couldn't afford to pay for."
The union that I used to belong to provided a similar service for $20/year. If you can make money selling such a plan, it's probably overpriced.
I disagree with those that claim an HSA is only useful for those that can afford it. An HSA is useful for anyone that is eligible to contribute to one and also pays their medical bills. This is true even if you are living paycheck to paycheck and have no money left over to contribute! Here's how you do it: This way even if you don't have enough money to make regular contributions to the HSA, you still get the tax advantage anytime you make a payment. It's effectively the same thing as regular contributions but without having to guess how much you'll need. You only contribute exactly the amount you need.
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If you are eligible for FEE-HELP then this is by far the cheapest way of financing higher education in Australia.
Someone please feel free to correct me on this, but I believe the point is that the HSA is used to pay for that high deductible, and the insurance takes care of additional costs beyond the deductible.  I believe your premiums are lower as a result of the high deductible, but the HSA money helps to offset that cost of those deductibles when you encounter them.
It wouldn't. An HSA is essentially a tax shelter (emphasis mine): For those that can afford it, the HSA is a powerful tax shelter It helps anyone that has money, and can put it into an HSA, but if the money isn't there, the HSA serves no real purpose.
There are ups and downs to doing this.  This isn't a taxable gain, because it's borrowed money that will be repaid. Whether there are restrictions or not depends upon your contract with the seller and your bank. If the concessions are for health & safety related repairs, your bank may require you to complete the work before closing or within a certain period of time. Overall: Upsides Downsides
And pocketing a transaction fee every step of the way. The bigger the loan, the bigger the fee, so everyone in the chain of deceit had incentive to lie on the loan application. You had agents lying on behalf of clients to secure them a bigger loan, making up higher salaries, previous houses, all kinds of stuff.
&gt;there's nearly always a reasonable argument.  Seemingly, and at first glance, but it's almost always to benefit those who can afford lobbying the most and with deeper pockets once you really look at the wording of the argument. They've been at it for several decades so they know exactly the wording to use to appear as if it's for our benefit.