100 :glugglug

Sounds Like you hate me LoL

I agree. Bought a house in '97. CPA told me I needed the interest for a write-off so I didn't pay cash, but since then he's decided the interest isn't doing as much good as paying the house off does. I'll be paid off in February...yehaaww.. then I can sit back and watch it increase in value every year.

As for the 400 square feet. My bedroom is way bigger than that. I think my first apartment was 700 sq feet.

As for a 1300 square foot apartment..why pay in rent what you could be paying on a house payment?

Mine's 850 sqaure feet!

I have been advising bankers, investment firms and individuals about real estate matters for the past 8 years on a daily basis so I think I know a thing or two about real estate:winkwink:

I'm sure most people don't need smart money to tell them that tying up all your assets in real estate is simply crazy no matter how poor or rich you are.

That's one of the smartest things ever posted on GFY

A friend of mine bought a house a couple of years ago. 300 thousand australian dollars. Paid for it cash. He has driven a 1979 holden commodore since the early 80's, and only recently bought a '95 model i think (which at the time he bought it, would have only set him back about AU$12 thousand).

It's funny. He'll tell me about all the people he knows, driving 50 thousand, 100 thousand dollar cars, complaining about their mortgage payments and their car payments. Ahh yes. I laugh at them too.

rent in florida is damn cheap what would you expect people to do with their money

Car payments.....baahh....haven't had monthly car payments since the early '90s. Cars cost enough already and start depreciating the moment you drive off the lot.. why make monthly payments plus interest on top of all that.

Hey, I posted this troll on fuckedcompany this morning! :sadbanana:

Thanks :)

welcome to new york city

Ding ding ding!

In some places, real estate is just rediculous.. example: here in San Diego, prices are just out of control. To "own" my condo, mortgage+homeowners+insurance would be about $7500/month. Rent is less than half that. I can earn much more on my money by investing.

Nothing is applicable 100% of the time..

My point exactly.

The status car / house was one of the examples.

Everyday I see people who spend thosands of dollars on brand clothes, buy 10k watches etc, but live in real shitty appartments and constantly borrow money from someone else.

I find it extremely stupid.

I still say housing in the best indicator of wealth, only because it's the hardest to "fake". Paying $10k for a watch is a lot easier than spending $3000-4000/month on a housing payment (rent or mortgage).

Agree with Dark Jedi on this one. Best thing I ever done was to buy my fucking house.

Property in the UK has rocketed the past few years.
My house has nearly doubled in value in the 2 1/2 years I have lived there.
:2 cents:

lots of asians are like that here in Toronto...they drive these "souped" up (I dunno how to spell it) cars and you go to their houses and they either live at home still or live at jane/finch (our ghetto) in a roach infested apartment..:1orglaugh

personally I'm saving for a house, equity is much more valuable here in toronto...especially the location...

I live in this 700 sq feet apartment (rented) and I don't have any car. I'll buy one next year for around $10k.

same here

if you buy a $100k car and have to struggle to make they payments -> you = idiot

I have no use for a big house, I love my small apartment and I love my status car!

triple that bottom number for california

Why you gotta come at me like that?

Sounds like someones been reading rich dad poor dad, :thumbsup

I'd like to have both, a big house and an expensive car.

(Mercedes C 230 V6, 39 month lease @ $ 299.-/mo. Can't beat that, it needs almost no gas)

I knew a guy that lived in a little shitty apartment for about 1 year while his $2 million dollar custom home was being built.

ok who has been bumping old threads again...

Parents that buy their kids nice cars make me sick.

Mostly out of jealousy.

I laugh at you laughing at those people.

:1orglaugh


But yes, it is pretty silly...

I drive a Lambo and live in a shack with no running water. Chicks love it. They say that I'm "eccentric"

over 20 years, you'd pay 300k interest on a 250K loan (thats the figures I worked out a few months ago)
if you payed 200 p/w rent for 52wks x 20 years that equals 200K. If you saved like you would have paid a mortgage ($250pw x 52wk x 20) thats $260k in savings, not including interest, dividends or money made from investments.
With that you can argue rent going up (like I could say interest rate going up), inflation, a property boom etc. you could also include the 3-6% a year your property will go up (some are going up higher right now, but they're the ones you can't afford to buy now anyway), and I could argue shire rates and their steady increase, property upkeep etc,

Fuck status

I love Porsches because they represent the very best in quality, not becasue I give a flying fuck what some gold digging wench thinks of me.

Anyone here ever heard of..........Le Mans?

or Nuburgring 24 hours? it's where peices of shit don't last 2 hours:1orglaugh

"status" at those races is irrelevant...quality isn't.:2 cents:

So true. Fuck them! :disgust

I laugh at people who drive status cars but are in major debt

Yup that's how I see it also, totally agree with you on that one.
That counts for most areas, atleast where I live .... prices don't really skyrocket here.

I'm renting a house, so I guess I'm not allowed to have a sweet ride huh :)
Well I'm renting mainly because I like to move every 3-4 years hehe

who are forced to live in shitty place because of the payments they need to make for their status car are idiots ... those that choose to live in a (small) rental crib aren't by default idiots

It's actually "Nürburgring", but you are right, once you've driven a Bimmer, a Porsche, or a Mercedes you know what quality is, and safety too.

A couple of weeks ago I saw an old geezer in a 1974 Diesel Mercedes in a parking lot. He'd bought it new in `75 and has been driving it ever since.

You don't see Lexus' or Coyotas driving around from the seveties.

To me, it depends on what you want or need more. I live in an older house that we are renting, and getting ready to build. The new house will be 3 story on a mesa over looking the coast line. Should come about to about 4500 sq ft. So, we have not gotten a new car in some time. I still have my 2002 truck. We have to pay cash for the house, so saving is important

If you do not have familly, you may have a car better than the house, but when you have one, this is the family that you have to care about so buy a good house and fuck the car.

The thing is if you spend all your $'s on a sports car you won't really enjoy that car I think! I could mortgage my home and buy the best new lambo or something but I'd be shitting myself everytime I drove it in case i scratch the paint!

I love my car but I thrash it on the road and on the track! yea I will lose money on it and possibly write it off but fuck it whats the point in having a high performance car if you are just going to polish the fucking thing all day?!

Yeah but you're a homosexual pretending to be a straight player. Your vote don't count. Sorry. Thanks for playing though..

WTF is better than a Civic? VTEC 4 Life!!! :thumbsup

Laugh all you want but you and your shiny BMW will be crying at the gas pump within a few years..

Yep I totaly agree, I couldn't see myself living in a house when I was not married, no point really. Too much upkeep for a single guy. Downtown condo's are the way to go for a single guy.

Then once you're married get a house cause you need the extra space as the condo gets way too crowded with two people living in it.

Who bumped yet another classic DJ thread?

You know as well as I do that 400SQ Feet is not uncommon in Toronto and can actually cost you up to 2k a month in rent, if its in the right building!

dang where do you live? up where i live nice house 2.5 million.
in vancouver 250k can buy you a nice garage

...lol well it's all about the car sometimes!! :pimp

And this is where your money should go.
All of us here have their own preference and nobody should question that.

You guys are way too judgemental.

life is about quality not quantity.

Secondly, if you do the math, there is a line at about the 13-18 year mark where owning property outweighs renting for the same value. If you're young and don't plan on renting for more than half of that time then it makes FAR FAR FAR more financial sense not to tie your life up in repayments on property.

As far as cars go, most people with `status` cars have some business interest and there would be putting it through their business. Done properly, a car lease will end up costing you *LESS* than if you were to buy it outright (10-20% less after your negotiated price).

Times change. Keep up oldies!