Universal Basic Income

[skyfall123]

I didn't bother reading your bigger pockets article because it seemed like you were making a bit of a dig. Well actually your whole post was a dig.

I was actually more interested in how you viewed yourself, the article is a discussion amongst peers.

We all grow up with unique experiences that shape our belief systems. It sounds like you have been resourceful to make it to where you are. That is a compliment.

One way to summarize your life experiences is to state (I'm paraphrasing your various statements on this thread) I grew up poor, my parents set a bad example, I worked my way out of poverty on my own with no one's help, I take every opportunity/advantage of various govt programs (Pell Grant, Fannie Mae mortgage loans, ACA health care subsidies.) yet at the same time I view them with disdain because (fill in the blank). If fact I point to them as evidence of wasteful govt programs.

Another way to summarize your life experience would be to say - I'm grateful that I was born in the US. Even though my parents were poor,I am grateful for the lessons learned both good and bad that my parents taught me. I am grateful that although I came from humble begins I was able to find opportunites to earn a living. I am especially grateful that after having found success in my twenties I was able to reinvent myself and found success again in my late thirties.I was able to get into the business of buying properties then renting out those proerties to individuals. I am grateful that there was a program available (Fannie Mae)that I could use to accomplish this, for if that program did not exist, I would never have been able to secure market rate loans on multiple properties to establish a living income. In fact I can not say with certainty where I would be without that opportunity.I am grateful that the tax code allows generous allowances to encourage people to invest in properties the way I can. I realize that this type of business is not for everyone as there are a number of very serious risks involved. It is not a guarantee of success, but it is an opportunity for which I am grateful. I am also grateful that i am able to finish my degree and take advantage of a Pell Grant. I am humble and grateful.

Now back to the bigger picture. It is possible that Fannie/Freddie did a great job of stabilzing the housing markets after the bubble burst in 2007 through the policies they utilized. It is possible that by encouraging small investors like yourself who otherwise would never have the resources to purchase multiple properties, it benefits the economy as a whole. After all is it better for the economy as a whole to have 10,000 individuals like yourself owning and leasing 10-20 properties or 10 huge investment groups that own the same 1,000,000 properties?

There will always be people who take real advantage of govt programs. There will also people who greatly benefit from these programs. I'm sure you can point to any and every program there is and find flaws. It doesn't mean those programs are without benefit or necessary for the greater good.