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My house in Phoenix was close to an apartment complex and I remember being stunned at the cars coming out of there. If you can afford a $60k BMW, you can afford a $200k house in Phoenix. The value of the car will drop no matter what where as the value of the house will rise.
And when I saw this thread I thought about this.
But after giving this some thought, I too was one of those. When I was 25 I bought a 1995 Ford Mustang GT. It was way out of my price range and I struggled to keep it. In fact, it lead me into bankruptcy. The condo I was living in - in Danville California - was for sale at the time. If I had bought the condo instead of the car I would have been sitting sweet.
Live and learn!
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