Tacos in St. Louis area

you had to ask

 

Going back to my original point, instead of putting money in to cars, there are times when you need to make a decision on what's important. If you can put that money on the side and save up for a down payment, do it.

At the end of the day, generally speaking, cars are depreciating assets.

You want to argue rent is better than home ownership, that's a losing battle every single day, 24/7, 365 days.

If you can afford 1k-1.5k rent, you can afford a house payment.

 

Cars aren't depreciating assets.

Cars are tools. You spend the money to use it until it breaks, then you fix it or replace, circumstancially.

Anyone viewing cars as assets is either a collector or has an incorrect mindset.

The way banks work here, they don't care what kind of rent you can afford. They have their algorithms (debt to income, credit score, job title/pay, race, location etc) that all gets factored into what you can and cannot borrow.

 

I ma smack you in the nuts when I see you. Don't tell anyone cars are not depreciating assets. Cars loose value as time goes by and as you use it. That's depreciation .

Do you know the definition of an asset? A quick Google search should help, because it's not what you just defined it as. Not even close, like fundamentally incorrect.

I know how the banks work. That shouldn't prevent or scare you from obtaining a loan. If you know you are not great in one area, work on it, why sell yourself short without trying? Find a local/private bank to work with instead of those that will sell your loan.

Do not ever underestimate yourself and fuck the nay sayers

 

I don’t really get how you’re coming up with the idea that prices will never go down again. Markets ebb and flow all the time. The idea that it will never go anywhere but up is…odd.

His reasoning behind the college analogy is that buying a house is the new thing people are convinced you have to do. It’s the only way to be successful kind of thing, not that there was some actual financial ROI by just putting money into it.

That completely leaves out the fact that houses have unplanned repair/maintenance costs. Somebody might be able to afford a routine, expected monthly cost but that doesn’t mean they can afford the random costs of owning and dealing with issues themselves.

 

I said the market will correct but they won't come down to what they were. It's not an idea, it's called inflation and supply/demand. the only reason there is a slow down is because borrowing cost is going up.

Why do you think big corporations bought up houses in bundles? Because they think prices are going to go down?

That reasoning is incorrect and here is why. The reason why there was a boom in people buying houses are two things (lower interest rates and increased cash on hand because of spending less and staying at home) same with the stock market and crypto. So what you described is just not accurate.

Your ROI on renting is negative every time. Tell me how much houses were 50 years ago? 20 years? 10 years? 5 years? 2 years? Home value has appreciated its that simple. Well if you don't plan and factor in that something might break that's just bad financial planning on your part.

I am not here trying to convince you to buy a home. Just making a better financial decision than pissing money in to a depreciating asset that you won't recoup what you put in it. If you are going to piss money why not do it in to a house where you can actually recoup what you put in it. Where your cash is not losing value everyday. Where you are not pissing money in to rent that you will never get back. These are facts not ideas or opinions.

Plus yall talk as if you don't have home owner insurance that will cover a significant amount of whatever repairs may happen. Plan for it, put aside funds for unexpected expenditures.

Don't buy a house buy cars

 

I described a tool, not an asset.

How's your bus?

Here's the fun discussion that financial gurus do NOT understand.

Maybe I am renting. But that rent is providing me a relatively maintenance-free home. A roof over my head. Heat in the winter. Most people appreciate that.

Maybe I did finance my truck. But my truck is more than just a tool for me. It's an escape. It's a little bit of freedom. It's an adventure in of itself. And it allows me to do more. For me... That's worth it. It's worth being able to experience life and not only focus on financials.

What good is your reward if you ain't around to use it...

 

The only reason I bought the bus was to be able to work remote and do things that I wanted to do with photography and traveling.

That all changed when shit hit the fan even more in Lebanon. The reason I am trying to sell the bus to use for a down payment, because I need to be a cushion for my parents.

Looking back you can say bad financial decision, in that moment it was not. In this moment yes terrible decision making. I made a decision, didn't turn out for the best.

I am questioning or judging whether you finance the truck or not. I agree with what you said I was there with the same approach.

All I am saying, if you can divert certain funds for a greater goal, do it. Everything else becomes meaningless. I would love to see all of us successful.

Love mike tears coming down

 

Well to be fair the posts of yours I read came across as the only logical thing to do is buy a house.

I just exited a career that heavily revolves around the housing market and inflation so much that we had economists entirely dedicated to monitoring and sending updates on what was going on with it. I don’t need to be told how this stuff works.

There are plenty of reasons to not buy just as much as there is to buy. It entirely depends on your financial situation, location, career path, general desires, etc.

 

The ability to quickly move if needed is a big one as well. The amount of times I’ve moved over the last few years if I bought a house every time would’ve been a nightmare.

 

https://www.tacomaworld.com/threads/tacos-in-st-louis-area.22598/page-1566#post-27672824

This is what instigated this whole discussion

I wasn't telling you how it works. I was documenting in wiriting on how it works

 

also one of my favorite hobbies of the past year has been busting your balls about that bus

100% not gonna lie though.... There was a certain sort of romantic adventure to when I was living out of my Pathfinder (and it was fucking cold) but.... A good experience. Not sustainable long term. Still miss the simplicity sometimes.

 

I am coming up on 13 years being here in the states. I've moved 16 times

 

I’ve moved like 8 or 9 times in the last like 4 years lol

 

can't say I didn't enjoy it it will live in infamy

 

Perfect. That means you can use your cash on hand to invest in stonks today and can make way more money than you would buying a house or paying cash for that truck.