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Old 03-21-2012, 10:49 PM   #127
Hendu
 
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I have people tell me to stop renting and stop buying nice cars.

I tell them I can move anywhere I want in the USA (thinking about moving out west soon) and I don't have to deal with selling a house to do so.
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Old 03-22-2012, 08:04 AM   #128
hoffmk2003
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Dont buy a house until you are ready and settled and have a good job. I bought a house at 26 and now live 5.5 hours away and even with it rented (I could not sell in 09 without a loss) I still lose money every month on it. Now I'm not around to do everything myself so expenses are much much more to repair it when it needs it.

I listend to stupid advice of my father (buy a house buy a house buy a house)

Ever hear the saying misery loves company? Well most people who bought houses before 2006 are miserable because they lost their ass on the house of cards called real estate. They want you to buy to help drive the prices back up.

The logic of "wasting" money on renting vs buying only holds water if you have like 30% downpayment and can pay it off in 15 years. Otherwise with no down payment, PMI insurance and 30 year note your looking at paying 3 times the purchase price of the house due to compound interest, yes the bank would make 200k off your 100k house for a total of 300k paid for that 100k house. Then if you are lucky in 30 years you could sell it for 200k and only lose 100k. That is the reality most people don't know, everyone who says a house is a good investiment is short sighted.

Further evidence is since 1940 the housing market has only appreciated 1.5% when you account inflation. Thats right kiddies, great investment I think not. Then add to that maintnenance, renovations, taxes and insurance and it's a loss every way you look at it.

The only redeaming quality of the house argument is it is yours, you can do what you want and don't have to ask permission etc.... It's also good for raising families etc..

My wife and I have been married 8 months, and the "that car is so expensive and is a luxury" head rears itself every week. She doesn't get it that I'm a car guy, I Always have been and always will be. The car isn't going, I may put it up for sale but we all know it will be paid off in 2 years and once the payment is gone the issue will be gone. She will learn it's part of me and the more memories we build on trips with the car the less she will want me to sell it.

Point is, it's your life. If you love cars get a nice one you like, enjoy it and save for a house for when you are ready. Don't rush your life things will happen when they are meant to.

Ken
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Old 03-22-2012, 09:59 AM   #129
mhood
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Originally Posted by rez333 View Post
Western culture of kicking kids out is stupid. Most of the time it results in kids doing exactly the same thing to you when you're wearing diapers. It's off to the old folks home for you grandpa!
I always liked the way the Waltons did it.
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Old 03-22-2012, 10:13 AM   #130
heRS
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Old post, but I too rent. No kids, no mortgage, no college funds = CAMARO! The OPs workies were just plain jealous and probably still are.
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