Comments for 0 at http://www.playamayanews.com , comment 1 to 6 out of 6 comments http://www.playamayanews.com Wed, 08 Feb 2012 02:37:20 +0100 FeedCreator 1.7.3 http://www.playamayanews.com/real_estate/how_barack_obama_will_affect_playa_del_carmen.html#comment-173 No problema, you have my contact info at the bottom of the article. You may contact me anytime and we can schedule a meeting. Best regards, - Enrique (Henry) Saldana Thu, 27 Nov 2008 02:30:14 +0100 http://www.playamayanews.com/real_estate/how_barack_obama_will_affect_playa_del_carmen.html#comment-172 Thanks again, Enrique. It would be fun to meet you. I have a condo in Puerto Aventuras. I will be down Dec 20-Jan 6th. My wife works for a school district so our time in Mexico is determined by her schedule. We usually get down there for 2 weeks at Christmas a Short trip on spring break and a month or so in the summer. Let me know. Rick - Rick. Mon, 24 Nov 2008 23:58:47 +0100 http://www.playamayanews.com/real_estate/how_barack_obama_will_affect_playa_del_carmen.html#comment-171 Rick: I apologize for misreading your statement and yes I have checked your figures, reviewed from a chart from the Skeptical Optimist webpage that you may be familiar with, and based on that information your statement is correct. However, the facts may vary depending on how we look at them. At any rate, and since I am not an economist, I will just take this informatio as fact. And as Steve Conover, The Skeptical Optimist, writes, perhaps the question is not to tax the rich to redistribute wealth, but to increase economic growth and prosperity. And just like you, I hope Obama’s new economic policies do work. With regards to Income Inequality, I am afraid here we may have some disagreement. After 30 years living in the States with 4 and 5 generation family and relatives in various different states of the union, I can guarantee you that there is certainly Income Inequality in the USA. The most latent proof exists in Palm Beach County, Florida, where you have the economic opulent living in the coastal areas, whereby the economically distress live closer to the Everglades. Yes there are many ways of achieving economic prosperity in the USA and I myself have known several personal cases, and have personal friends, who have the climbed up the economic ladder, but in the majority of the cases the “system” does not allows the regular “john doe” to succeed. I would rather not go any further into discussing this and live it to your personal research and conclusion. Being a USA College educated individual, I can understand your reference to Harvard and Stanford Universities. However, I would like refer you to a quote on the Rich Dad, Poor Dad book that goes something like this: “...Harvard and Standford Universities’ graduates will end up working for some of the most successful college dropouts, Bill Gates and Steve Jobs, among others…”, which goes to prove that education does not equate with success. As far as financing a second home in Mexico, which is what I think you are refering to, it is not as cumbersome as it may look, nor expensive, as you may believe. Which with tax deductions properly utilized, makes it even more appealing that paying cash. The cost difference is usually an additional 3% to 4% from purchasing in cash (loan origination points, commissions and other closing costs are also tax deductible). Finally, let me point out that there actually is Pre-Construction Financing available for new developments, the only condition would be that a Condo Regime is already in place for the development. The reason is that, if there is no Condo Regime in place, the purchaser DOES NOT actually OWN THE UNIT (CONDO UNIT),much less can the bank have any right to the property, since NO ACTUAL TRANSFER OF TITLE for the property ACTUALLY OCCURS. That is why SOME DEVELOPERS are not allowing mortgage financing on their developments, because they ARE NOT ISSUING TITLE to their clients, UNLESS THEY are able to PROVIDE A CONDO REGIME. THIS, in Mexico, the land of everything is possible, SHOULD BE A MAJOR CONCERN FOR ANY FOREIGN PURCHASER OF MEXICAN REAL ESTATE. I could tell you some interesting stories from buyers and major developers who have been practicing this way of selling of their developments. I would like to thank you for your time reading our article and only want to stress the fact that all we are concerned with is informing and educating the general public. We do appreciate any feedback and corrections to the same article when appropriate. Thank you, sincerely, Enrique (Henry) Saldana Mexico Mortgage Solutions/Advanced Mortgage Inc. - Enrique (Henry) Saldana Mon, 24 Nov 2008 12:49:00 +0100 http://www.playamayanews.com/real_estate/how_barack_obama_will_affect_playa_del_carmen.html#comment-170 Thank you Enrique. I appreciate your response and the points that you make. I would ask that you read my message a little closer. I did not say anything about a 5% tax increase. The point I made is that the top 5% wage earners are paying 60% of all income tax. That begs the question of what is "fair". Obama wants to raise the two top marginal tax brackets from 33% and 36% to 35% and 39.6%. For those people making more than $250,000, the capital gains tax will rise to 20% from 15% under the Obama plan. And he plans to raise the social security (FICA)tax on incomes above $250,000 by 2-4 percentage points. People who are in this income range are the people buying the second homes in Mexico. Although the vacation home mortgage interest deduction is a available, the truth is, 95% of Americans who own vacation homes in Mexico pay cash for them. Financing with a first mortgageis cumbersome and expensive. Many (myself included) have taken advantage of pre-construction prices to keep our cost down. I sincerely believe that Obama's tax policies will be detrimental to our economy. The is not an exact quote but Winston Churchill said something to the effect that "Trying to tax an economy into prosperity is like trying to lift yourself up by standing in a bucket and pulling on the handles". The truth is, I hope Obama is right. I hope his policies work. If they don't, we will have dug ourselves into a much deeper hole. With respect to Mr. Greenspan, I believe he recently stated that he just didn't understand why the economy has gone the direction it has. What has happened hasn't fit within the classic economic models upon which he has built his career. I don't share his concern about income inequality. In this country there are so many ways to achieve economic prospertiy. So many policies and programs are available to those with few resources. But it takes work. Did you know that schools like Harvard and Stanford offer free tuition to students who come from families earning less that $100,000 annually. Anyway, I enjoyed your response. Thank you. - Rick. Thu, 20 Nov 2008 23:34:09 +0100 http://www.playamayanews.com/real_estate/how_barack_obama_will_affect_playa_del_carmen.html#comment-169 Rick: Nowhere in the article do I see anything mentioned with regards to a 5% tax increase, nontheless and with regards to that affecting Americans home purchasing in Mexico, let me remind you that second home mortgage interest payments are a tax deductible item for Americans. Perhaps the purchasing trend for Americans should be more through a mortgage loan, rather than a cash deal. What is "Income Inequality"? According to the Wikipedia Encyclopedia, and I quote; "Income inequality in the United States is the extent to which income, most commonly measured by household or individual, is distributed in an uneven manner. ...The majority of social scientists believe that income inequality currently poses a problem for American society with Alan Greenspan stating it to be a "very disturbing trend." ...A study by the Southern Economic Journal found that " 71 percent of American economists believe the distribution of income in the US should be more equal, and 81 percent feel that the redistribution of income is a legitimate role for government." …As of 2006, the United States had one of the highest levels of income inequality, as measured through the Gini index, among high income countries, comparable to that of some middle income countries such as Russia or Turkey, being one of only few developed countries where inequality has increased since 1980. “As I've often said... this [increasing income inequality] is not the type of thing which a democratic society—a capitalist democratic society—can really accept without addressing. - Alan Greenspan, June 2005 ” While education and increased demand for skilled labor is often cited as a cause of increased inequality, many social scientists, such as economists Paul Krugman and Timothy Smeeding and political scientist Larry Bartels, point to public policy as the main cause of inequality.", end of quote. Finally, the article mentions the elimination of capital gains taxes for small business investors, rather than an increase of the same; and the extension of write-offs for small business equipment purchases as two additional aspects of economic incentives. I hope this information clarifies your concerns. Best regards, Enrique (Henry) Saldana Mexico Mortgage Solutions/Advanced Mortgage Corp. - Enrique (Henry) Saldana Wed, 19 Nov 2008 14:06:03 +0100 http://www.playamayanews.com/real_estate/how_barack_obama_will_affect_playa_del_carmen.html#comment-168 Raising taxes on the top 5% wage earners will do nothing but slow down the American second home in Mexico market. Who do you think buys the condos and houses? BTW, the top 5% wage earners already pay 60% of all income tax. The bottom 20% pay nothing. The middle 75% pay 40%. What is "income inequality"? Sounds like a politically correct code term for something elses. Oh yeah. Almost forgot. Rasing the capital gains tax is really going to jumpstart the investment markets. - Rick. Tue, 18 Nov 2008 20:27:53 +0100