Lets do the math:
According to BankRate.com's Mortgage Payment Calculator:
Mortgage Amount: $100,000
Interest (30 years at 7.00%) = $139,508.00
Monthly Payment = $665.30
Total Payment = $239,508.00
Mortgage Amount: $100,000
Interest (20 years at 7.00%) = $86,072.00
Monthly Payment = $775.30
Total Payment = $186,072.00
In the first case, the interest is more than the cost of the house (not counting inflation, that is). Even at 10 years, 7.00% at $1,161.08/mo, the total interest was $39,329.60.
In the future,
Social Security, pensions, and the like will be on shaky ground, making
retirement a myth for many senior guys and gals. Plus, the cost of living will
always increase, as long as more and more human bodies are birthed upon the
earth—and as long as the current, inadequate socioeconomic structure
remains in place. Thus, not only will more money in your pocket be a necessity
for luxuries, it will also be essential just for sustaining bearable comfort.
According to the Inflation Calculator at U.S. Department of Labor, Bureau of Labor Statistics, $100,000 in 2006 has the same buying power as $77,827.38 in 1996.
What if there was an organization that allowed the people to use their economic resources collectively in order to purchase homes for one another basically at no cost other than paying off the principal of the home? Then the buyers of those homes would have more money to save and/or to pump into the economy for other things.
With HAC (Home Acquisition Club), the dreaded “in’s” will become “outs.”
HAC will function as a club in which members pay into a fund. When the fund
reaches an adequate level, the Club purchases a home in one lump sum payment for
the member at the top of the list, or the Club pays off the member’s existing
home. The member then pays the Club back at
at no inflation!
The cycle then repeats itself for the other members on the list, and with increasing frequency as more homes are purchased and as more members join.
There may be some
who will say, “Won’t you be ruining it for the banking and real estate
industries as well as for the people who invest in this sort of thing?” To
that, I ask this: Do they care if they “ruin it” for us? The consumer
doesn’t owe these people their patronage and hideous interest rates; they owe themselves
the best deal! And if said best deal is obtained by participating in
collective economics designed to benefit the masses while also benefiting the
one, then that’s all the better. Besides, these traditional lending
institutions still have other parties to fleece who need loans.
We should do all we can to decrease usury—which is disdained in religious scripture (no offense meant to non-believers). When we reduce this rapacious curse, people will be able to afford a decent home and, at the same time, have more money with which to stimulate the overall economy—generating genuine prosperity for everyone. And, by “genuine,” I mean actually getting something for your money, not seeing it disappear into a bottomless pit of constrictive finance charges.
What can you do with an extra $100,000?
* Send two children to a 4-year public college for 4 years—with room & board included.
* Buy into franchises: Archadeck, Quizno’s, Rainsoft, Spring-Green Lawn Care Corp., 7-Eleven, Blimpie, Carvel Ice Cream, Geeks On Call, Golf Etc. of America, Shoes-N-Feet, and many more—many for much less than $100,000.
* Buy all of these year-2007 cars: Buick LaCrosse, Chevrolet Colorado, Buick Rendezvous, Ford Explorer Sport Trac—and have some change left over for a gallon of gas.
* Go on an extended vacation around the world, put it all away for retirement, leave it to your kids...or...how about this?...Buy another home and rent it out!
you do, those extra bucks in your pocket will not only lead to a better
lifestyle for yourself, but also to a more equitable base of opportunity for
employees and budding entrepreneurs as the economy benefits from the advantage
of placing that money into the hands of the average consumer—yours—rather
than in the hands of the corporate elite.
The purpose of this site is to educate those on the middle and lower rungs of the ladder about this opportunity and to give them the chance to reap the first benefits of a movement dedicated to liberating the people from much of the economic asphyxiation that interest and inflation bring us today.
HAC is not up and running as yet; however, all aspiring home owners agreeing with its principles and operations are being called upon to register their contact info so that, when it is in operation, they can lead the charge for a new day in the financial world!