Grogan, time to play

[Cassie]

Originally posted by Peaches@Nov 6 2003, 08:46 PM
What's funny is that through years of buying houses and property, *I* know the answers to those questions, lol! But then again, I haven't spent all my adult life living in a rented apartment like our buddy Grogan. :P I thought it was pretty funny when he said he didn't have the money for a downpayment...yet he claims the cars are paid for. Hmmmmm - spend tens of thousands of dollars on a depreciating liability or tens of thousands of dollars on an appreciating asset. He ain't NEAR as smart as he thinks.

i have to play devils advocate for a min here. i cant speak for anyone else but at 20 i wanted the brandy new car that looked good as well. the only difference is i actually bought one (which can be proven unlike photos that are posted on a board) and i regreted every min of it after the first week of having it cause my payments were insane.

even into my mid 20's, a house wasnt a priority. it wasnt until i hit my late 20's and now mid 30's that a house is truly everything (especially in this advantage taking market) and i can pick up a $500 car at a dealer auction (if it came to that) that would get me to the same places at a 50k car would.

50k depreciates 8k the min its driven off the lot.
250k house can appreciate 5-10k in a year depending on the town.

i really do enjoy getting older cause there is so much to learn.