Glenn Beck

[Salty]

Glenn Beck on his national synicated show announced that he is selling his house. The reason: "Owe no man anything". (Rom 13:8) Since Beck is a mormon, and the official church policy is to use only cash to build a new building, I assume that is the thinking that Beck is going by.

Do you beleive it is sinful to have a mortage? Do you think Beck is a bit hyper on that doctrine?

Other thoughts?

Salty

 

[matt wade]

I think Glenn Beck is doing something wrong if he can't pay off his house. He needs to get someone to negotiate him a better contract.

 

[KenH]

Do you beleive it is sinful to have a mortage?

No. I see nothing wrong with having manageable debt.

 

[Revmitchell]

I think Glenn Beck is doing something wrong if he can't pay off his house. He needs to get someone to negotiate him a better contract.

Really? How big is his house?What is it worth market value?

The truth is he has already sold it according to beck on his radio show today. He did not want any debt at all.

 

[matt wade]

Really? How big is his house?What is it worth market value?

The truth is he has already sold it according to beck on his radio show today. He did not want any debt at all.

He should be able to afford any house he wants according to the information I see about how much money he makes.

http://en.wikipedia.org/wiki/Glenn_Beck#Media_career_and_income

In June 2009, estimators at Forbes magazine calculated Beck's earnings over the previous 12 months at $23 million, with 2009-2010 revenues on track to be even higher.[36] Although the majority of his revenue results from his radio show and books, his website's 5 million unique visitors per month also provides at least $3 million annually, while his salary at Fox News is estimated at $2 million per year.[36] Additionally, Beck's online magazine Fusion, sells an array of Beck-themed merchandise.[36]

23 million in 12 months? I think he can afford to pay off a mortgage.

 

[exscentric]

He lost money on his house also.

He is beginning to push other church stuff. He is encourgaging stock piling of food, converting cash to gold thus far.

He thinks that serious failures in the economy are coming and he wants to be out of debt and ready to deal with what comes along without worry about what he owes.

 

[JohnDeereFan]

Glenn Beck on his national synicated show announced that he is selling his house. The reason: "Owe no man anything". (Rom 13:8) Since Beck is a mormon, and the official church policy is to use only cash to build a new building, I assume that is the thinking that Beck is going by.

Do you beleive it is sinful to have a mortage? Do you think Beck is a bit hyper on that doctrine?

Other thoughts?

Salty

No, it isn't sinful to have a mortgage. But in today's economy, we really need to do everything we can to get out of debt. Mortgages are a killer.

 

[JohnDeereFan]

He lost money on his house also.

He is beginning to push other church stuff. He is encourgaging stock piling of food, converting cash to gold thus far.

That philosophy isn't limited to Mormonism. It's just common sense and many of us have been advocating it for years.

 

[Salty]

But if you don't have a mortgage, you still have to pay rent. And eventually, the mortgage will be paid off.

 

[just-want-peace]

But if you don't have a mortgage, you still have to pay rent. And eventually, the mortgage will be paid off.

True, but if you are kicked out of a rental unit, you've lost nothing; if you're kicked out of your house by a re-possession, you've lost equity.

Granted you've lost $ either way, BUT, your rent is not building equity, ergo you are no "poorer" $-wise, than if life just continued normal for you.

 

[Revmitchell]

But if you don't have a mortgage, you still have to pay rent. And eventually, the mortgage will be paid off.

or pay cash for your house.

 

[FR7 Baptist]

or pay cash for your house.

That's a good idea, but then you have to pay rent AND save for a house and that can be hard to pull off. One good idea is to own rental houses and charge enough to pay for he mortgage and maintainance, and then the tenants are buying an asset for you. My grandparents have 3 rental houses and that's what they do.

 

[Revmitchell]

That's a good idea, but then you have to pay rent AND save for a house and that can be hard to pull off. One good idea is to own rental houses and charge enough to pay for he mortgage and maintainance, and then the tenants are buying an asset for you. My grandparents have 3 rental houses and that's what they do.

I was talking about Beck who could sell his house and downsize to pay cash for it.

 

[SBCPreacher]

He thinks that serious failures in the economy are coming and he wants to be out of debt and ready to deal with what comes along without worry about what he owes.

He may be right. It's surely not a bad idea!

 

[FR7 Baptist]

I was talking about Beck who could sell his house and downsize to pay cash for it.

I know, I was just talking in general.

 

[billwald]

A house is the place where you live, not a good investment in normal times when one considers the time and money spent on routine home owner tasks and repairs. One would be better to rent and invest the difference. For people who can't handle cash money, who buy toys on credit, a house is the only possible avenue for savings.

If a person can't afford to pay rent and accumulate a 20% cash down payment for a house then the can't afford to buy a house. A house is NOT a good investment in normal times expect for people who work 30 years in a high income locality and retire to a "right to work state" where people are living on less than his retirement. Most people do not retire at the top of a real estate bubble.

Owning a house doesn't improve one's bank account. It improves one's character and socialization. In my neighborhood one can tell the rent houses by the trash and the junk cars.

 

[Revmitchell]

A house is the place where you live, not a good investment in normal times when one considers the time and money spent on routine home owner tasks and repairs. One would be better to rent and invest the difference.

What difference? When you rent you give your money to someone else. When you own even with repairs and maintenance you keep your money. And if your house is paid off then if something tragic happens like a loss of income no can come get your house or kick you out.

 

[Salty]

He lost money on his house also. ...QUOTE]

One reason he lost money is because he has only owned his home for about 3 years. The first 5 years or so, you are just basically paying interest on the loan.

Of course, the housing market has been slow, but he should have held out a bit longer for a better price.

My in-laws took 2 years to sell their house as they were unwilling to lower their selling price. They finally did receive the amount they wanted.

But my op (I think) also asked does Romans command us not to have a house mortgage?
We could go to the extreme and say, we should prepay our electricity bill, and the power company should be instructed to shut the power off when prepayment has been used up.

Salty

 

[targus]

He should be able to afford any house he wants according to the information I see about how much money he makes.

http://en.wikipedia.org/wiki/Glenn_Beck#Media_career_and_income

23 million in 12 months? I think he can afford to pay off a mortgage.

Maybe he just wants to keep the money more than he wants to keep the house.

Isn't that his decision to make?

Do you feel compelled to buy everything that you can afford - regardless of how much you want or don't want it?

 

[Salty]

Maybe he just wants to keep the money more than he wants to keep the house.

Isn't that his decision to make?
QUOTE]

Of course, it is his (and his better halfs) decision to make. I just think it was a poor decision. But this is the US and he has a right to be wrong. :laugh: