42% hit in house values, my guess is that would be bad..

[NashvilleBound]

Very well put! I'll take a stab in the dark and guess that you are also one of the few on the boards that actually OWNS their boat too? It's the same philosophy...everybody is trying to keep up with the Jones'.
It's paid for.....I dont want to seem to be rubbing anything in to someone that might be on the verge of a hardship....but people need some education. Speaking of the Jones', when i was in San Diego we worked in the coastal communities and they would reach to buy a 850k home(both parents working...thats a whole 'nother problem).....then the beamers and such but have home depot paper blinds or sheets in the windows for years. Why cant people just be satisfied with having a lifeand make FAMILY the priority? My philosiphy is....I work to live, not live to work. Big difference.

[DCBDaytona]

It's paid for.....I dont want to seem to be rubbing anything in to someone that might be on the verge of a hardship....but people need some education. Speaking of the Jones', when i was in San Diego we worked in the coastal communities and they would reach to buy a 850k home(both parents working...thats a whole 'nother problem).....then the beamers and such but have home depot paper blinds or sheets in the windows for years. Why cant people just be satisfied with having a lifeand make FAMILY the priority? My philosiphy is....I work to live, not live to work. Big difference.
I hear ya...It just seems that our philosophy is not liked much around here. I'm a recent college grad, having grown up with a father with the same philosophy. He's always paid cash for boats, most recently his DCB F-29. My little Daytona is also paid for, but it's not nearly on the scale of money as your deck or dad's tunnel. It's always a bit weird when I see "kids" my age (22) with $100K+ boats! My dad and I just laugh...We seem to think that on an average summer weekend in Havasu about 5% of the boats are owned. I guess the payments wouldn't be too bad over 20 years :rollside:

[canuck1]

It's paid for.....I dont want to seem to be rubbing anything in to someone that might be on the verge of a hardship....but people need some education. Speaking of the Jones', when i was in San Diego we worked in the coastal communities and they would reach to buy a 850k home(both parents working...thats a whole 'nother problem).....then the beamers and such but have home depot paper blinds or sheets in the windows for years. Why cant people just be satisfied with having a lifeand make FAMILY the priority? My philosiphy is....I work to live, not live to work. Big difference.
Paid for? In todays world that means with a credit card right? :rollside:
I wonder how many people on this board could survive without an income for a month or two or longer without changing the way they live and not selling anything to do it.

[wsuwrhr]

I hear ya...It just seems that our philosophy is not liked much around here. I'm a recent college grad, having grown up with a father with the same philosophy. He's always paid cash for boats, most recently his DCB F-29. My little Daytona is also paid for, but it's not nearly on the scale of money as your deck or dad's tunnel. It's always a bit weird when I see "kids" my age (22) with $100K+ boats! My dad and I just laugh...We seem to think that on an average summer weekend in Havasu about 5% of the boats are owned. I guess the payments wouldn't be too bad over 20 years :rollside:
I've always paid cash for my toys too. Well at least within the last 5-7 years anyway. Course we are talking about $2-5000 toys. Not a 100K+ boat.
The only thing I owe on is one car and my house. I did the zero-down thing on the house though, but I bought the house three years ago in the middle of the upswing, so I will still be OK with equity as long as the house remains standing.
Damn Nashville, buying houses(PLURAL) with cash. "I am the Jones" You weren't kiddin.
Wishyourwerenoblingblinghere

[wsuwrhr]

I wonder how many people on this board could survive without an income for a month or two or longer without changing the way they live and not selling anything to do it.
I could, but after two months I would be at your doorstep looking for handouts.
Course I would have to borrow a warm jacket to be able to make it to Canada.
Brian

[callbob4homes]

[QUOTE=totenhosen]Like the majority of dumbass realtors QUOTE
Stefan, where do you get off with that kind of comment? Why do you have a RE license? You called me more than once for information re your condo dealio in Tempe. If you know so goddamn much about this biz, why didn't you just handle it yourself? I kind of thought you might be fairly intelligent from our conversations, but you come across with some of these comments that just quite frankly chap my ass. RE investments are like anything else regarding money. You can read all the books, listen to all the "experts", suck down all the rhetoric from every "analyst" there is, and still not have the real life knowledge or street smarts if you will, to play the game. many subjects are getting crossed over here. Buying ones own home is a far cry from investing in RE. Cap rates have nothing to do with buying a second home for an investment. Buying apartments or condo's or some other rental property? Then talk cap rates. Is there going to be a glut of foreclosures soon? Maybe, maybe not, but I am not going to hold my breath waiting for it. Granted the market here is way different than the Cal market, but for every newspaper article (here or there) that predicts the "bust", there are just as many talking about the building going on. I don't copy and paste articles from the paper here because most of the stuff is not accurate (one way or the other) and is just written to sell papers IMO. As for saying RE agents are just out to make a quick buck (don't remeber who said it and don't care) you can't sell something to someone that doesn't want to buy. Some people make it sound like we go hijack people off the street and force them to sign on the dotted line. Anybody out there ever been forced to buy a home? Sorry about the rant, and if I have offended anyone...............well tuff sh!t, because I have read quite of bit of crap on this subject that has offended me.
I usually enjoy these RE discussions because of the different opinions and viewpoints, and every now and then I learn something. This one has turned into a pissing match and I'm done.

[cdog]

The reality is that it's all a bunch of BS. Some can boast about how all their crap is paid for, others are into credit up to their necks. There's tax advantages to having a mortgage on a home. None for a boat (unless it's got a crapper). Every situation is diff. There's no one correct answer for everyone.

[cdog]

I've met more greedy A-hole sellers over the last 5 years in this biz than "Dumb ass Realtors".
It must be tough to be stuck in a Job Mon thru Friday, when you're true gift in life is real estate insight. Mabey you should change professions.

[DCBDaytona]

The reality is that it's all a bunch of BS. Some can boast about how all their crap is paid for, others are into credit up to their necks. There's tax advantages to having a mortgage on a home. None for a boat (unless it's got a crapper). Every situation is diff. There's no one correct answer for everyone.
It is all BS. But the people with "credit up to their necks" SHOULD NOT be living the lifestyle they do. They are living in a fantasy world that at any moment could end in misery. Anybody with an honest financial background would agree...And it's evident that many do not have Financial Planners.

[canuck1]

[QUOTE=callbob4homesover
Anybody out there ever been forced to buy a home? [/QUOTE]
Yes as a matter of fact.