OT 19: Masks On, Clothes Off, Right Hand Left Titty

[Tar]

I'm going to play devil's advocate, and recognize that I'm making a few assumptions...

That CO bro sold his place for 900k? He should comfortably be able to carry $400-500k (assumption is that the other place is paid off )

The house looks pretty nice, it needs bathrooms but not right away. Paint colors were cool 12 yrs ago, so I'd put new baseboards and casings up and paint the main areas.

$1.3MM is becoming pretty common in many metro areas, with interest rates really low the monthly on half a mill is really not crazy, roughly 3k/month + taxes and utilities.

[max225]

I'm going to play devil's advocate, and recognize that I'm making a few assumptions...

That CO bro sold his place for 900k? He should comfortably be able to carry $400-500k (assumption is that the other place is paid off )

The house looks pretty nice, it needs bathrooms but not right away. Paint colors were cool 12 yrs ago, so I'd put new baseboards and casings up and paint the main areas.

$1.3MM is becoming pretty common in many metro areas, with interest rates really low the monthly on half a mill is really not crazy, roughly 3k/month + taxes and utilities.

Sold for 900 probably cleared 250k after all the taxes and fees etc.

I think these low interest rates have got to stop at some point... it is driving people into some really STUPID decisions. I mean my all in cost on a similar priced house is 7k a month (mortgage is only 4k). Which while doable is certainly a big stressor if someone loses a job etc.

[ChrisoftheNorth]

I'm going to play devil's advocate, and recognize that I'm making a few assumptions...

That CO bro sold his place for 900k? He should comfortably be able to carry $400-500k (assumption is that the other place is paid off )

The house looks pretty nice, it needs bathrooms but not right away. Paint colors were cool 12 yrs ago, so I'd put new baseboards and casings up and paint the main areas.

$1.3MM is becoming pretty common in many metro areas, with interest rates really low the monthly on half a mill is really not crazy, roughly 3k/month + taxes and utilities.

Taxes and utilities on a house like that is an easy $1k/mo. I don't see how less than $200k HHI can afford that with kids and everything else. Maybe I'm just poor now. Or too conservative. Or both.

[ChrisoftheNorth]

I'm going to play devil's advocate, and recognize that I'm making a few assumptions...

That CO bro sold his place for 900k? He should comfortably be able to carry $400-500k (assumption is that the other place is paid off )

The house looks pretty nice, it needs bathrooms but not right away. Paint colors were cool 12 yrs ago, so I'd put new baseboards and casings up and paint the main areas.

$1.3MM is becoming pretty common in many metro areas, with interest rates really low the monthly on half a mill is really not crazy, roughly 3k/month + taxes and utilities.

Sold for 900 probably cleared 250k after all the taxes and fees etc.

I think these low interest rates have got to stop at some point... it is driving people into some really STUPID decisions. I mean my all in cost on a similar priced house is 7k a month (mortgage is only 4k). Which while doable is certainly a big stressor if someone loses a job etc.

When the hell with the fed recognize that inflation is going apeshit? The free money all around needs to stop. Unemployed? Time to find a job, unemployment is crazy low. Need a house? You'll pay more in interest for it. Things are getting out of hand.

[max225]

Sold for 900 probably cleared 250k after all the taxes and fees etc.

I think these low interest rates have got to stop at some point... it is driving people into some really STUPID decisions. I mean my all in cost on a similar priced house is 7k a month (mortgage is only 4k). Which while doable is certainly a big stressor if someone loses a job etc.

When the hell with the fed recognize that inflation is going apeshit? The free money all around needs to stop. Unemployed? Time to find a job, unemployment is crazy low. Need a house? You'll pay more in interest for it. Things are getting out of hand.

I think "admitting" it would cause the economy to collapse. It is this weird don't ask don't tell policy at the moment. Inflation is an absolute runaway train right now.

Just from what I can tell over the last 12 months. Mar2020 to Mar 2021
House prices +15-50% depending on area
Used car prices +50-100%
New car prices +15-25%
Lumber/building materials +50-100%
Food etc +10-20%
Liquor ~ flat
Education +10-20% per usual
Energy +20-40%
Electronics +15-20% (nothing is discounted, shortage central)
Bicycles +50-100%
Work out equipment +50% used +200%
Furniture +30-50% due to raw material hikes/shortages
RVs +20-40%
ATVs/UTVs +20-50%
Boats 30-100%

Like the list is endless. Yet.

https://www.bls.gov/cpi/

+2.6% which is the most insane crock of shit ever.

[Apex]

Sold for 900 probably cleared 250k after all the taxes and fees etc.

I think these low interest rates have got to stop at some point... it is driving people into some really STUPID decisions. I mean my all in cost on a similar priced house is 7k a month (mortgage is only 4k). Which while doable is certainly a big stressor if someone loses a job etc.

When the hell with the fed recognize that inflation is going apeshit? The free money all around needs to stop. Unemployed? Time to find a job, unemployment is crazy low. Need a house? You'll pay more in interest for it. Things are getting out of hand.

Everyone’s a winner!

[max225]

https://www.bls.gov/regions/west/news-r ... ngeles.htm

Here it is .. they actually claim booze is up 11%
New cars are FLAT
Housing is up 1.7%
Used cars are up 8.7% YoY which is a complete crock of shit
They live in opposite land.

[Tar]

I'm going to play devil's advocate, and recognize that I'm making a few assumptions...

That CO bro sold his place for 900k? He should comfortably be able to carry $400-500k (assumption is that the other place is paid off )

The house looks pretty nice, it needs bathrooms but not right away. Paint colors were cool 12 yrs ago, so I'd put new baseboards and casings up and paint the main areas.

$1.3MM is becoming pretty common in many metro areas, with interest rates really low the monthly on half a mill is really not crazy, roughly 3k/month + taxes and utilities.

Sold for 900 probably cleared 250k after all the taxes and fees etc.

I think these low interest rates have got to stop at some point... it is driving people into some really STUPID decisions. I mean my all in cost on a similar priced house is 7k a month (mortgage is only 4k). Which while doable is certainly a big stressor if someone loses a job etc.

Holy shitballz, a 1MM mortgage in a new land with a baby on the way.
I'm guessing that's a 10k note, plus taxes/utilities, pretty ballzy.

[ChrisoftheNorth]

https://www.bls.gov/regions/west/news-r ... ngeles.htm

Here it is .. they actually claim booze is up 11%
New cars are FLAT
Housing is up 1.7%
Used cars are up 8.7% YoY which is a complete crock of shit
They live in opposite land.

I suppose you're right that they're trying to keep the economy afloat by ignoring actual market pricing for things, but damn...this isn't good.

Our contractor is part owner of a lumber yard. Another owner owns 100s of acres of forest in the area. He spent $1M on milling equipment and he's cutting and milling his own lumber off his own property and selling it locally to help with lumber prices. Contractors are starting to lose work around here because the cost of material is making things unaffordable. The room he's working on in our house will have lumber from trees that grew 5 miles from my house, and for much cheaper. Kinda but also incredible that things are THIS jacked.

[ChrisoftheNorth]

When the hell with the fed recognize that inflation is going apeshit? The free money all around needs to stop. Unemployed? Time to find a job, unemployment is crazy low. Need a house? You'll pay more in interest for it. Things are getting out of hand.

Everyone’s a winner!

Yet somehow I feel like I'm losing in the long run.

[Desertbreh]

When the hell with the fed recognize that inflation is going apeshit? The free money all around needs to stop. Unemployed? Time to find a job, unemployment is crazy low. Need a house? You'll pay more in interest for it. Things are getting out of hand.

I think "admitting" it would cause the economy to collapse. It is this weird don't ask don't tell policy at the moment. Inflation is an absolute runaway train right now.

Just from what I can tell over the last 12 months. Mar2020 to Mar 2021
House prices +15-50% depending on area
Used car prices +50-100%
New car prices +15-25%
Lumber/building materials +50-100%
Food etc +10-20%
Liquor ~ flat
Education +10-20% per usual
Energy +20-40%
Electronics +15-20% (nothing is discounted, shortage central)
Bicycles +50-100%
Work out equipment +50% used +200%
Furniture +30-50% due to raw material hikes/shortages
RVs +20-40%
ATVs/UTVs +20-50%
Boats 30-100%

Like the list is endless. Yet.

https://www.bls.gov/cpi/

+2.6% which is the most insane crock of shit ever.

Or you could perform a split-S maneuver and defeat the bandit with a missile shot of DogeBenz....

https://www.autotrader.com/cars-for-sal ... pe=listing

https://www.autotrader.com/cars-for-sal ... pe=listing

[D Griff]

I'm going to play devil's advocate, and recognize that I'm making a few assumptions...

That CO bro sold his place for 900k? He should comfortably be able to carry $400-500k (assumption is that the other place is paid off )

The house looks pretty nice, it needs bathrooms but not right away. Paint colors were cool 12 yrs ago, so I'd put new baseboards and casings up and paint the main areas.

$1.3MM is becoming pretty common in many metro areas, with interest rates really low the monthly on half a mill is really not crazy, roughly 3k/month + taxes and utilities.

Taxes and utilities on a house like that is an easy $1k/mo. I don't see how less than $200k HHI can afford that with kids and everything else. Maybe I'm just poor now. Or too conservative. Or both.

As mentioned a couple of days ago with my sister (three kids, BIL's income is the only one, just bought a house for $900K+ and also doing renos), buddy of mine (one kid, wife doesn't work, he makes $100-140K range and just bought a house for $650K), I am very much with you.

My BIL is cheap and good with money, I'm sure they have the wealth to afford it, but it just seems heinous to me, like at that point you are a fucking slave to your house/wife/kids, if you ever lost your job or just started hating your job, well, you're screwed. You need to keep making the big bucks to get by with your huge debt commitment.

I am not going to go full on DFD and say everyone with kids is a dumbass and doing it all wrong or that buying a home you love in a place you love is stupid, but just that being in that much debt is rather cringe-worthy to me and I'm glad I got in the house game when I did.

There is a house listed two down from my own home listed for $495K... it is literally the same layout as my own home but on a worse lot and with nicer renovations... Our house was $323K 1.5 years ago. I am to see if anyone is really down to blow a half mill for 1100 sq. ft. on a lot that requires a fly mower.

[razr390]

Everyone’s a winner!

Yet somehow I feel like I'm losing in the long run.

Aren’t we all

[ChrisoftheNorth]

Taxes and utilities on a house like that is an easy $1k/mo. I don't see how less than $200k HHI can afford that with kids and everything else. Maybe I'm just poor now. Or too conservative. Or both.

As mentioned a couple of days ago with my sister (three kids, BIL's income is the only one, just bought a house for $900K+ and also doing renos), buddy of mine (one kid, wife doesn't work, he makes $100-140K range and just bought a house for $650K), I am very much with you.

My BIL is cheap and good with money, I'm sure they have the wealth to afford it, but it just seems heinous to me, like at that point you are a fucking slave to your house/wife/kids, if you ever lost your job or just started hating your job, well, you're screwed. You need to keep making the big bucks to get by with your huge debt commitment.

I am not going to go full on DFD and say everyone with kids is a dumbass and doing it all wrong or that buying a home you love in a place you love is stupid, but just that being in that much debt is rather cringe-worthy to me and I'm glad I got in the house game when I did.

There is a house listed two down from my own home listed for $495K... it is literally the same layout as my own home but on a worse lot and with nicer renovations... Our house was $323K 1.5 years ago. I am to see if anyone is really down to blow a half mill for 1100 sq. ft. on a lot that requires a fly mower.

It's being a slave to the debts that bother me. There's making the payments, and there's AFFORDING something. We felt kind of like slaves to our last house, and it wasn't even that much. We paid $425k for it. I don't know how people pay double for a house and make the same or less than we did. Just nuts. But then I guess most people are OK working jobs they despise until they die. That's just not for me. Hell, we're in the 120-50k range these days and I feel like the $1,300 all-in house payment is just right. Between taxes and retirement savings, take home isn't THAT much. I guess people don't save for retirement? Or exploit loopholes to pay less taxes? I don't get it.

Everyone should do whatever makes them happy. I don't care if they want a bunch of kids and more debt than 100 year's of income. As long as I don't eventually have to pay for their stupidity,

[Apex]

Yet somehow I feel like I'm losing in the long run.

Aren’t we all

Our corporate/political overlords will see to it.

[ChrisoftheNorth]

Yet somehow I feel like I'm losing in the long run.

Aren’t we all

I like to think no. But I'm doing things so drastically different from others right now, that I'm

[ChrisoftheNorth]

Aren’t we all

Our corporate/political overlords will see to it.

[max225]

Sold for 900 probably cleared 250k after all the taxes and fees etc.

I think these low interest rates have got to stop at some point... it is driving people into some really STUPID decisions. I mean my all in cost on a similar priced house is 7k a month (mortgage is only 4k). Which while doable is certainly a big stressor if someone loses a job etc.

Holy shitballz, a 1MM mortgage in a new land with a baby on the way.
I'm guessing that's a 10k note, plus taxes/utilities, pretty ballzy.

No, as mentioned that’s a 4-5k note pending interest plus taxes and utilities 3k or so. Should be well under 10

[Huckleberry]

Taxes and utilities on a house like that is an easy $1k/mo. I don't see how less than $200k HHI can afford that with kids and everything else. Maybe I'm just poor now. Or too conservative. Or both.

As mentioned a couple of days ago with my sister (three kids, BIL's income is the only one, just bought a house for $900K+ and also doing renos), buddy of mine (one kid, wife doesn't work, he makes $100-140K range and just bought a house for $650K), I am very much with you.

My BIL is cheap and good with money, I'm sure they have the wealth to afford it, but it just seems heinous to me, like at that point you are a fucking slave to your house/wife/kids, if you ever lost your job or just started hating your job, well, you're screwed. You need to keep making the big bucks to get by with your huge debt commitment.

I am not going to go full on DFD and say everyone with kids is a dumbass and doing it all wrong or that buying a home you love in a place you love is stupid, but just that being in that much debt is rather cringe-worthy to me and I'm glad I got in the house game when I did.

There is a house listed two down from my own home listed for $495K... it is literally the same layout as my own home but on a worse lot and with nicer renovations... Our house was $323K 1.5 years ago. I am to see if anyone is really down to blow a half mill for 1100 sq. ft. on a lot that requires a fly mower.

Insanity unless he sold a bunch of stock or Dogecoin or something for a nice down payment.

[D Griff]

We pay like $2600/month all in with taxes, utilities, etc. and it still feels like a lot to me, and that is with some pretty solid income. I sort of miss the simple life of renting some shitbox for sub $500/month.

[max225]

Everyone’s a winner!

Yet somehow I feel like I'm losing in the long run.

I feel like I should have gotten a more expensive house. I have a 2.3% interest rate loan and I should have taken advantage of it. But I was too scared of higher taxes/rona/economic doom.

Now the more expensive house is out of the comfort zone. I can't complain but there is a downside to being especially when money is depreciating. What is the point. I have 0 regrets in buying the new taco for example... I waited 9 months to get it... and now it's no easier then then... and I got 6+ months of use out of it. Life is short y'all. And we're going through crazy uncertainties.

The government won't let shit fail... they didn't in 08 and still won't. The assholes that buy @100% their maximum budget end up winning. That's a hard lesson I learned before but refused to follow this time around again.

[max225]

I think "admitting" it would cause the economy to collapse. It is this weird don't ask don't tell policy at the moment. Inflation is an absolute runaway train right now.

Just from what I can tell over the last 12 months. Mar2020 to Mar 2021
House prices +15-50% depending on area
Used car prices +50-100%
New car prices +15-25%
Lumber/building materials +50-100%
Food etc +10-20%
Liquor ~ flat
Education +10-20% per usual
Energy +20-40%
Electronics +15-20% (nothing is discounted, shortage central)
Bicycles +50-100%
Work out equipment +50% used +200%
Furniture +30-50% due to raw material hikes/shortages
RVs +20-40%
ATVs/UTVs +20-50%
Boats 30-100%

Like the list is endless. Yet.

https://www.bls.gov/cpi/

+2.6% which is the most insane crock of shit ever.

Or you could perform a split-S maneuver and defeat the bandit with a missile shot of DogeBenz....

https://www.autotrader.com/cars-for-sal ... pe=listing

https://www.autotrader.com/cars-for-sal ... pe=listing

These are literally +75-100% from where they were 24 months ago.

I helped my buddy get this benzo... plenty of CPO models in the low 20s with 50k miles at the time...

[Desertbreh]

Or you could perform a split-S maneuver and defeat the bandit with a missile shot of DogeBenz....

https://www.autotrader.com/cars-for-sal ... pe=listing

https://www.autotrader.com/cars-for-sal ... pe=listing

These are literally +75-100% from where they were 24 months ago.

I helped my buddy get this benzo... plenty of CPO models in the low 20s with 50k miles at the time...

Nah that E350 never went for less than 10.5K with those options and mileage.

[Tar]

Holy shitballz, a 1MM mortgage in a new land with a baby on the way.
I'm guessing that's a 10k note, plus taxes/utilities, pretty ballzy.

No, as mentioned that’s a 4-5k note pending interest plus taxes and utilities 3k or so. Should be well under 10

I'm counting six grand on a milskie based on ultra low rates... ok not so crazy but 10k all in is still

[max225]

No, as mentioned that’s a 4-5k note pending interest plus taxes and utilities 3k or so. Should be well under 10

I'm counting six grand on a milskie based on ultra low rates... ok not so crazy but 10k all in is still

My loan is 1.065 monthly is $4114