[–] dontdoxxmebro 0 points 3 points 3 points (+3|-0) ago
I do not own a house, and I paid cash for my used car. I don't care how I seem, I care how financially solvent I am. Most people are abhorrent with money. I am not.
[–] obvious_throwaway1 1 point 4 points 5 points (+5|-1) ago
Because the car is an ever-depreciating asset and the house at the very minimum holds it's value.
You rent both either way in the end, even if you "own" the house.
The house depreciates in other ways. Needs new roof, floors, gardening, property tax, new windows, remodel, update, etc. and you never know when the market will tank and you lose 30% of the value you paid for. Like when 2008 happened and 500k houses went down to 300k or less value almost overnight.
[–] hey_girls_pm_me_toes 0 points 1 point 1 point (+1|-0) ago
no. You can make a profit by selling your house
[–] obvious_throwaway1 0 points 5 points 5 points (+5|-0) ago (edited ago)
Generally speaking, in the typical case you need to spend money to renovate/modernize/maintain the house, and the traditional 30-year mortgage is mostly principle until the 10th year. Since the average home owner sells their house within 7 years of ownership, this means it's a minority that actually does end up making money selling their house.
Cost + appreciation - renovations/repairs/maintenance - sale price = net loss for most people.
[–] hey_girls_pm_me_toes 0 points 30 points 30 points (+30|-0) ago
200k house is a pretty nice house in most places
[–] a_random_sith ago
Where I'm at, that can get you a nice 2 story in a nice area or a townhouse in a newer development.
Just looked at a place the other day here. Four bedroom, 3 bath, over 2200 square feet with a pool and in-ground sprinkler system and on the "good" side of town for $200K. Also saw another 4 bed/2 bath with 2300 sq feet and a pool a little more on the good side of town for $170K. Sure I don't live in NYC, LA, or Miami, but those are great houses in a decent sized city.
[–] hey_girls_pm_me_toes 0 points 1 point 1 point (+1|-0) ago
Yea I have dated girls who loved watching those house flipping shows. Some bitch will pay 500k for a 1600sq ft house in the ghetto and spend 100k to fix it up. I would just move.
[–] hey_girls_pm_me_toes 0 points 1 point 1 point (+1|-0) ago
Well most places in my state
[–] SonOfRobin 0 points 3 points 3 points (+3|-0) ago
I concur and I'll state I live in Colorado. If it's a major city in Colorado with 10 miles then 300K+
The reason? All the Californians need to go back.
[–] [deleted] 0 points 1 point 1 point (+1|-0) ago
[–] 10124240? 0 points 1 point 1 point (+1|-0) ago
If it is a $200K RV then you are doing better than most.