Comments on: A Look at The Automatic Millionaire Homeowner by David Bach http://www.consumerismcommentary.com/2006/02/15/a-look-at-the-automatic-millionaire-homeowner-by-david-bach/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Mon, 22 Mar 2010 11:46:20 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: terryhttp://www.consumerismcommentary.com/2006/02/15/a-look-at-the-automatic-millionaire-homeowner-by-david-bach/#comment-66487 terry Thu, 19 Oct 2006 20:00:08 +0000 http://wp.consumerismcommentary.com/?p=882#comment-66487 What does Bach - I think those words were his; I've browsed the book - mean "ready to give back to the community"??? (I have rented my entire adult life and I figure I've given back to the community more than the average homeowner in my neighborhood.I have built wealth for my landlords, surely that must be considered giving back. My home has been taxed for schools at four times the rate on owner-occupied homes, so it could even be argued that renters give back to the community more than do homeowners merely through property taxes.And I have been on the board (two years) of my neighborhood association.Now I'd love to own a home, but on my pathetic income, it's highly unlikely. How about allowing low-end ownership opportunities not currently allowed? What does Bach – I think those words were his; I’ve browsed the book – mean “ready to give back to the community”??? (

I have rented my entire adult life and I figure I’ve given back to the community more than the average homeowner in my neighborhood.

I have built wealth for my landlords, surely that must be considered giving back. My home has been taxed for schools at four times the rate on owner-occupied homes, so it could even be argued that renters give back to the community more than do homeowners merely through property taxes.

And I have been on the board (two years) of my neighborhood association.

Now I’d love to own a home, but on my pathetic income, it’s highly unlikely. How about allowing low-end ownership opportunities not currently allowed?

]]> By: Markhttp://www.consumerismcommentary.com/2006/02/15/a-look-at-the-automatic-millionaire-homeowner-by-david-bach/#comment-55055 Mark Mon, 07 Aug 2006 15:17:39 +0000 http://wp.consumerismcommentary.com/?p=882#comment-55055 Overall I like this guys no-nonsense approach to generating wealth but I'm a little disappointed he threw his hat into the real estate wealth arena. Especially without giving his readers a well rounded view of the potential downside of a market that will most likely change dramatically over the next few years. I've made a major turnaround financially over the last 5 years in real estate investing but I've also seen others seriously threaten their financial security by buying homes with a vague notion that it's always going to work out for them. The simple fact that rents aren't meeting up to mortgages in most coastal cities is going to do in a lot of new investors in the next couple of years. Overall I like this guys no-nonsense approach to generating wealth but I’m a little disappointed he threw his hat into the real estate wealth arena. Especially without giving his readers a well rounded view of the potential downside of a market that will most likely change dramatically over the next few years. I’ve made a major turnaround financially over the last 5 years in real estate investing but I’ve also seen others seriously threaten their financial security by buying homes with a vague notion that it’s always going to work out for them. The simple fact that rents aren’t meeting up to mortgages in most coastal cities is going to do in a lot of new investors in the next couple of years.

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