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[–] sumguy ago 

People believe what they want. I drive a 20 year old truck that's been paid off for 14 years and live in a house that cost $60k/$350 month, everyone thinks I'm rich as fuck. No you fucking idiots, I just know how to NOT throw money away so I have some to spend on things I like (travel, early retirement).

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[–] FrostyTheSwoleMan ago  (edited ago)

$200000 house

Poor as fuck

Where do I fall, renting a room from a dude on craigslist?

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[–] pushthis 0 points 1 point (+1|-0) ago 

Disagree

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[–] hey_girls_pm_me_toes 0 points 30 points (+30|-0) ago 

200k house is a pretty nice house in most places

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[–] 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.

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[–] hypercat ago 

Yup, median cost of homes in US is 235k.

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[–] 10124201? ago 

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.

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[–] hey_girls_pm_me_toes 0 points 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.

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[–] CRKT_M16Z 0 points 3 points (+3|-0) ago 

Most places?

Without revealing where I live, I'll just say that $200k might get you an okay home in a somewhat shady neighborhood, if you're lucky. If you want nice in a good neighborhood, you're looking at prices starting around $300k.

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[–] SonOfRobin 0 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.

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[–] hey_girls_pm_me_toes 0 points 1 point (+1|-0) ago 

Well most places in my state

2 replies

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[–] obvious_throwaway1 1 point 4 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.

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[–] hypercat ago 

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.

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[–] hey_girls_pm_me_toes 0 points 1 point (+1|-0) ago 

no. You can make a profit by selling your house

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[–] 10124448? ago 

if you're lucky. unless you put in serious sweat equity you might not even break even after considering inflation and transaction costs, especially if you move after less than 10 years or so

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[–] Sosacms ago 

If you pay in cash.

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[–] obvious_throwaway1 0 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.