Posted by larbear on March 24, 2021 at 17:19:56 from (216.154.190.197):
In Reply to: Coming to a Cross Road posted by Bruce from Can. on March 24, 2021 at 07:03:08:
1.5 mil at today's rates and what interest rates have been for how long? 2009, 2010? My son has come to me with a wondering, a hope, a dream, if he might, as I suggested to him, buy my brother out of our small 49.5 acre farm so as to facilitate my brother's estate planning. I'm for it as when you give up title it's gone. My son looks at servicing a debt of 4 hundred thousand for a house, between 3-4 hundred, as what it takes to buy into today's housing market where we live. My son isn't a farmer and quite likely won't be. He's closing in on his 5th year of an electrical apprenticeship and sees himself as a journeyman making up to a hundred grand a year, so sees himself as being able to service the debt without help except from me. One issue here is we have 7 acres of bush ground of which in this township is rare. Dover township has less than .05% of any natural tree cover. So it's a bit of a sweet spot for a tree hugger. An issue with that kind of debt is interest and what interest is apt to do in the next number of years? I believe in the future and that is, your son and his family. My grandmother used to say, if you don't know what to do, don't do any thing. My Dad used to say there's nothing like a warm barn on a cold winter's day, you, by the sounds of it know how barns stay warm. The problems we have are luxuries really.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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