What percentage of 370z owners own a house?

antennahead · 06-27-2009, 12:12 PM

Quote:

Originally Posted by kgreen

i am 21 and i was about to close a deal on my new PG sport pkg. 370z last month but decided instead to take advantage of this $8000 tax credit for first time homeowners. my house is in construction now and will be done late october. The $8000 tax credit will go to the Z when i get it in around spring/summer

Excellent and wise financial move!!!

John

FricFrac · 06-27-2009, 12:31 PM

Quote:

Originally Posted by kgreen

i am 21 and i was about to close a deal on my new PG sport pkg. 370z last month but decided instead to take advantage of this $8000 tax credit for first time homeowners. my house is in construction now and will be done late october. The $8000 tax credit will go to the Z when i get it in around spring/summer

Very wise and the pay off will be huge down the road. It can be a struggle at first but it really is a wise idea.

Oh and for those who think renting is a great idea because wealthy people do it consider this - each time you make a rent payment that money is gone forever - you may as well burn it or flush it down the toilet. If you have a mortgage at least half that money is going into your house and even if you don't gain/loose when you sell your house you've "saved" that money....

If you can sit on real estate especially in larger cities (well here in Canada at least) you basically double your money on average every 10 years.

k20z3 · 06-27-2009, 12:27 PM

god this makes me feel like ****

gatorfast · 06-27-2009, 01:46 PM

For those who have mentioned rich people renting because they think its smarter, that is absolutely ridiculous. No one would not buy a house because they want to invest instead. If you live within your means you can pay the same amount per month for a mortgage then you would for rent. Also, any true investor would use leverage...take out a mortgage with a low rate and invest the money you have to produce a higher rate of return.

antennahead · 06-27-2009, 02:41 PM

Quote:

Originally Posted by gatorfast

For those who have mentioned rich people renting because they think its smarter, that is absolutely ridiculous. No one would not buy a house because they want to invest instead. If you live within your means you can pay the same amount per month for a mortgage then you would for rent. Also, any true investor would use leverage...take out a mortgage with a low rate and invest the money you have to produce a higher rate of return.

And now has never been a better time to buy, if you can afford the payment and/or have the cash. There are some sweet deals to be had in this down market, steals if you are a savvy shopper!

John

Pushing_Tin · 06-27-2009, 06:10 PM

Quote:

Originally Posted by antennahead

And now has never been a better time to buy, if you can afford the payment and/or have the cash. There are some sweet deals to be had in this down market, steals if you are a savvy shopper!

John

Exactly! While interest rates have crept up the past few weeks they are still at historic lows. That the $8k tax credit and many desperate sellers/short sales now is the time to buy.

XenChi · 06-27-2009, 11:46 PM

Quote:

Originally Posted by gatorfast

For those who have mentioned rich people renting because they think its smarter, that is absolutely ridiculous. No one would not buy a house because they want to invest instead. If you live within your means you can pay the same amount per month for a mortgage then you would for rent. Also, any true investor would use leverage...take out a mortgage with a low rate and invest the money you have to produce a higher rate of return.

*cough-B.S.-cough*

Plain and simple a home is a liability until it is finally sold. Purchase assets, and limit your financial exposure to liabilities and you will achieve wealth. Take your time plan and your moves wisely. When you have saved enough money for a substantial down-payment on a home get a consultation with Goldman Sachs and then decide what's truly best for you. You may be surprised.

antennahead · 06-28-2009, 01:07 AM

Quote:

Originally Posted by XenChi

*cough-B.S.-cough*

Plain and simple a home is a liability until it is finally sold. Purchase assets, and limit your financial exposure to liabilities and you will achieve wealth. Take your time plan and your moves wisely. When you have saved enough money for a substantial down-payment on a home get a consultation with Goldman Sachs and then decide what's truly best for you. You may be surprised.

A home is a liability? And what school of economics did you graduate from? The loan on your home is a liability, balance sheet wise. The property itself is an asset. If you buy right, and in this economy there is no better time to get a deal on a home, you will over time almost always have an appreciating asset. Yes home values have dropped in this recession, but if you have owned for years, the long term appreciation is still there.

John

XenChi · 06-28-2009, 01:23 AM

Quote:

Originally Posted by antennahead

A home is a liability? And what school of economics did you graduate from? The loan on your home is a liability, balance sheet wise. The property itself is an asset. If you buy right, and in this economy there is no better time to get a deal on a home, you will over time almost always have an appreciating asset. Yes home values have dropped in this recession, but if you have owned for years, the long term appreciation is still there.

John

Georgetown University, and you? Home = maintenance, insurance, higher utility bills and other associated costs...... thus a liability until sold. Also does your home truly "appreciate" or is it's higher "value" in direct correlation with the depreciation of the United States dollar?

antennahead · 06-28-2009, 03:57 AM

Quote:

Originally Posted by XenChi

Georgetown University, and you? Home = maintenance, insurance, higher utility bills and other associated costs...... thus a liability until sold. Also does your home truly "appreciate" or is it's higher "value" in direct correlation with the depreciation of the United States dollar?

Well you just go right ahead and rent then..............

FricFrac · 06-28-2009, 03:11 AM

Quote:

Originally Posted by XenChi

*cough-B.S.-cough*

Plain and simple a home is a liability until it is finally sold. Purchase assets, and limit your financial exposure to liabilities and you will achieve wealth. Take your time plan and your moves wisely. When you have saved enough money for a substantial down-payment on a home get a consultation with Goldman Sachs and then decide what's truly best for you. You may be surprised.

... you're right I should have invested in the stock market.... LOL!

If you didn't need to pay for housing then what you are saying has some merit but as most people who actually know about real estate can tell you that its the closest thing to a sure thing in investments..... stocks suck but I can tell you even in the worst market I've never seen rent go down and even now in this economy the vacancy rate here is only 1.2%. Besides if you are at the stage where you are renting out one of your properties you have someone paying your debt off for you and you are building equity in your investment at the same time. Take out a loan for an investment in the stock market and see how your return pays that loan off AND earns you money...

My dad lost about 40% of his life savings in mutal funds, etc - you know the safe bets. If he had kept his real estate he would own multi millions in real estate and easily live off the rentals alone.... but he listened to his investors (multiple investors - he would give them each $10K and switch to the one who made the best investments for him) and got rid of his real estate to fund his next project.... I won`t be making that mistake....

antennahead · 06-28-2009, 03:58 AM

Quote:

Originally Posted by FricFrac

... you're right I should have invested in the stock market.... LOL!

If you didn't need to pay for housing then what you are saying has some merit but as most people who actually know about real estate can tell you that its the closest thing to a sure thing in investments..... stocks suck but I can tell you even in the worst market I've never seen rent go down and even now in this economy the vacancy rate here is only 1.2%. Besides if you are at the stage where you are renting out one of your properties you have someone paying your debt off for you and you are building equity in your investment at the same time. Take out a loan for an investment in the stock market and see how your return pays that loan off AND earns you money...

My dad lost about 40% of his life savings in mutal funds, etc - you know the safe bets. If he had kept his real estate he would own multi millions in real estate and easily live off the rentals alone.... but he listened to his investors (multiple investors - he would give them each $10K and switch to the one who made the best investments for him) and got rid of his real estate to fund his next project.... I won`t be making that mistake....

Stop, he went to Georgetown University

XenChi · 06-28-2009, 06:41 PM

Quote:

Originally Posted by antennahead

Stop, he went to Georgetown University

Is someone upset that my scholastic penis is bigger than his?

gatorfast · 06-28-2009, 11:26 AM

Quote:

Originally Posted by XenChi

*cough-B.S.-cough*

Plain and simple a home is a liability until it is finally sold. Purchase assets, and limit your financial exposure to liabilities and you will achieve wealth. Take your time plan and your moves wisely. When you have saved enough money for a substantial down-payment on a home get a consultation with Goldman Sachs and then decide what's truly best for you. You may be surprised.

Rich dad poor dad?

XenChi · 06-28-2009, 06:30 PM

Quote:

Originally Posted by gatorfast

Rich dad poor dad?

Good Reading. It was our first assignment in rudimentary economics. Life altering...... no. But nonetheless very insightful.

View Poll Results: Do you own a house?
Yes I own a house	185	72.55%
No I rent	38	14.90%
I live with my parents	32	12.55%
Voters: 255. You may not vote on this poll

06-27-2009, 12:27 PM	#3 (permalink)
k20z3 A True Z Fanatic Join Date: May 2009 Location: Denver CO Age: 34 Posts: 2,146 Drives: 2006 Civic SI HFP Rep Power: 406	god this makes me feel like ** __________________ 2006 RALLYE RED HONDA CIVIC SI HFP** Clint's Helpful Photoshop Hints!

Thread Tools
Show Printable Version Email this Page
Display Modes
Switch to Linear Mode Hybrid Mode Switch to Threaded Mode

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
AZ in the house...	Slidefox	New Forum Member	12	07-21-2009 12:06 AM
AZ In the House! The Sequel!	Endgame	New Forum Member	11	07-20-2009 08:23 PM
370Z in the house	antennahead	New 370Z Owner	2	03-31-2009 06:44 PM
Visible Light Transmission Percentage	zylont	Exterior & Interior	3	03-17-2009 10:49 AM
IPP in the house!!!	Kyle(Houston)	Importpartspro	0	02-18-2009 05:55 PM

06-27-2009, 01:46 PM	#4 (permalink)
gatorfast Base Member Join Date: Jan 2009 Location: SoFla Posts: 120 Drives: Z4 M Coupe Rep Power: 290	For those who have mentioned rich people renting because they think its smarter, that is absolutely ridiculous. No one would not buy a house because they want to invest instead. If you live within your means you can pay the same amount per month for a mortgage then you would for rent. Also, any true investor would use leverage...take out a mortgage with a low rate and invest the money you have to produce a higher rate of return.