Truk Talk: Invest in Trukcoin!

[ChrisoftheNorth]

Our HHI has been cut by ~40% from this time last year, and that's not changing for the forseeable future. By this time next year, we'll be house poor on a monthly basis, with regular dipping into savings to stay afloat...I don't view that as sustainable.

Something needs to change somewhere. Cheaper housing seems to be the easiest lever to throw with housing values going in our area right now.

Right, I'd be unloading assets for profit if our HHI dropped 40% and wasn't going to easily recover.

The hard decision is knowing that unless a wad of cash shows up later (inheritance etc), once out of that market it isn't worth getting back in again.

Entirely depends on the market we're moving to...

[ChrisoftheNorth]

Our HHI has been cut by ~40% from this time last year, and that's not changing for the forseeable future. By this time next year, we'll be house poor on a monthly basis, with regular dipping into savings to stay afloat...I don't view that as sustainable.

Something needs to change somewhere. Cheaper housing seems to be the easiest lever to throw with housing values going in our area right now.

Are you saying that she won’t be able to find a job for a year ?

Buying and selling homes is hugely expensive ... you blow 5% of the house value by selling... and god knows what needs doing on the new house once you get it, plus moving expenses etc.

She wants to get into real estate...so she's going through the class now. All testing centers are closed for the forseeable future, so she can't get her license for who knows how long, but she'll be ready when she can. Assuming the real estate market doesn't completely and she can get her license soon and start selling some houses, it'll be at least a year if not longer before she makes any significant income. She can't find a regular job right now, nobody is hiring. While she's been applying, she's miserable in office jobs anyway. We have the cash to sustain us for years at our current income level, but the bigger question is why would we continue to flush $1k/mo away in taxes, and pay all the high costs of living in the city if we don't need to? I hate my job, and am willing to walk away when I'm forced back in the office. At which point, COL will be so low I could work at Costco and still live a great life. It's more about reducing general life expenditures than anything else.

New house is a fixer upper being sold by a friend, so the is pretty great. Definitely needs work, but I'm not afraid of that. House is in a area, so it follows my "buy the shittiest house in the nicest area ethos". We're going up there tomorrow to live in it for a month (renting) before deciding if we want to move forward or not. Will be interesting.

[max225]

Are you saying that she won’t be able to find a job for a year ?

Buying and selling homes is hugely expensive ... you blow 5% of the house value by selling... and god knows what needs doing on the new house once you get it, plus moving expenses etc.

She wants to get into real estate...so she's going through the class now. All testing centers are closed for the forseeable future, so she can't get her license for who knows how long, but she'll be ready when she can. Assuming the real estate market doesn't completely and she can get her license soon and start selling some houses, it'll be at least a year if not longer before she makes any significant income. She can't find a regular job right now, nobody is hiring. While she's been applying, she's miserable in office jobs anyway. We have the cash to sustain us for years at our current income level, but the bigger question is why would we continue to flush $1k/mo away in taxes, and pay all the high costs of living in the city if we don't need to? I hate my job, and am willing to walk away when I'm forced back in the office. At which point, COL will be so low I could work at Costco and still live a great life. It's more about reducing general life expenditures than anything else.

New house is a fixer upper being sold by a friend, so the is pretty great. Definitely needs work, but I'm not afraid of that. House is in a area, so it follows my "buy the shittiest house in the nicest area ethos". We're going up there tomorrow to live in it for a month (renting) before deciding if we want to move forward or not. Will be interesting.

Having just bought the cheapest house on the block, I am not sure I’d fully agree. There is a lot to do...
it’s like a second job at which point you have to count that. I used to have that mind set “ I don’t mind xyz” blah blah. But then you work M-F then you work SS and then it turns into a 7 day work week of misery... that’s if you ask me. No travel, no friends or fam, “busy working on the deck bro “

I’m in week 1 and going into week 2, probably have another 3 months of work... and that is probably around 50k in dollhairs

My to do list is 30 points long and 2 of the points are 2 week projects ... my time is worth money too

[ChrisoftheNorth]

She wants to get into real estate...so she's going through the class now. All testing centers are closed for the forseeable future, so she can't get her license for who knows how long, but she'll be ready when she can. Assuming the real estate market doesn't completely and she can get her license soon and start selling some houses, it'll be at least a year if not longer before she makes any significant income. She can't find a regular job right now, nobody is hiring. While she's been applying, she's miserable in office jobs anyway. We have the cash to sustain us for years at our current income level, but the bigger question is why would we continue to flush $1k/mo away in taxes, and pay all the high costs of living in the city if we don't need to? I hate my job, and am willing to walk away when I'm forced back in the office. At which point, COL will be so low I could work at Costco and still live a great life. It's more about reducing general life expenditures than anything else.

New house is a fixer upper being sold by a friend, so the is pretty great. Definitely needs work, but I'm not afraid of that. House is in a area, so it follows my "buy the shittiest house in the nicest area ethos". We're going up there tomorrow to live in it for a month (renting) before deciding if we want to move forward or not. Will be interesting.

Having just bought the cheapest house on the block, I am not sure I’d fully agree. There is a lot to do...
it’s like a second job at which point you have to count that. I used to have that mind set “ I don’t mind xyz” blah blah. But then you work M-F then you work SS and then it turns into a 7 day work week of misery... that’s if you ask me. No travel, no friends or fam, “busy working on the deck bro “

I’m in week 1 and going into week 2, probably have another 3 months of work... and that is probably around 50k in dollhairs

My to do list is 30 points long and 2 of the points are 2 week projects ... my time is worth money too

This would be our 3rd time doing it, I know what I'm in for...

Our current house being 110 years old still has a project list a mile long. It's at the point where it could sell for top dollar without those projects completed (because nothing is listed in our area), but no matter what I do, I'll be doing house shit. It's a part of my reality.

[max225]

This would be our 3rd time doing it, I know what I'm in for...

Our current house being 110 years old still has a project list a mile long. It's at the point where it could sell for top dollar without those projects completed (because nothing is listed in our area), but no matter what I do, I'll be doing house shit. It's a part of my reality.

Sell the old , buy land, build a cabin, and /fin the rest of your life somewhere.

Back with this pipe dream. That is not going to happen if you have to "work" no one is going to hire you if you live in a cabin in Wisconsin. Get real people.

You also need health insurance, retirement funds, closeness to family and friends, internet.. dental work etc. Like come on.

[max225]

Are you saying that she won’t be able to find a job for a year ?

Buying and selling homes is hugely expensive ... you blow 5% of the house value by selling... and god knows what needs doing on the new house once you get it, plus moving expenses etc.

She wants to get into real estate...so she's going through the class now. All testing centers are closed for the forseeable future, so she can't get her license for who knows how long, but she'll be ready when she can. Assuming the real estate market doesn't completely and she can get her license soon and start selling some houses, it'll be at least a year if not longer before she makes any significant income. She can't find a regular job right now, nobody is hiring. While she's been applying, she's miserable in office jobs anyway. We have the cash to sustain us for years at our current income level, but the bigger question is why would we continue to flush $1k/mo away in taxes, and pay all the high costs of living in the city if we don't need to? I hate my job, and am willing to walk away when I'm forced back in the office. At which point, COL will be so low I could work at Costco and still live a great life. It's more about reducing general life expenditures than anything else.

New house is a fixer upper being sold by a friend, so the is pretty great. Definitely needs work, but I'm not afraid of that. House is in a area, so it follows my "buy the shittiest house in the nicest area ethos". We're going up there tomorrow to live in it for a month (renting) before deciding if we want to move forward or not. Will be interesting.

So are the all in expenses for the next 2 years, LOWER than your current home expenses ? I am not expecting you to stay in that home with the House history of the last 4 moves in 8 years, so lets not kid our selves and say that it'll be a "forever home".

All in house expenses mean, current house for the next 2 years... and new house + improvements etc for the next 2.. and I would make the assumption that appreciation has seized and values will remain stagnant. The golden days are over.

[ChrisoftheNorth]

She wants to get into real estate...so she's going through the class now. All testing centers are closed for the forseeable future, so she can't get her license for who knows how long, but she'll be ready when she can. Assuming the real estate market doesn't completely and she can get her license soon and start selling some houses, it'll be at least a year if not longer before she makes any significant income. She can't find a regular job right now, nobody is hiring. While she's been applying, she's miserable in office jobs anyway. We have the cash to sustain us for years at our current income level, but the bigger question is why would we continue to flush $1k/mo away in taxes, and pay all the high costs of living in the city if we don't need to? I hate my job, and am willing to walk away when I'm forced back in the office. At which point, COL will be so low I could work at Costco and still live a great life. It's more about reducing general life expenditures than anything else.

New house is a fixer upper being sold by a friend, so the is pretty great. Definitely needs work, but I'm not afraid of that. House is in a area, so it follows my "buy the shittiest house in the nicest area ethos". We're going up there tomorrow to live in it for a month (renting) before deciding if we want to move forward or not. Will be interesting.

So are the all in expenses for the next 2 years, LOWER than your current home expenses ? I am not expecting you to stay in that home with the House history of the last 4 moves in 8 years, so lets not kid our selves and say that it'll be a "forever home".

All in house expenses mean, current house for the next 2 years... and new house + improvements etc for the next 2.. and I would make the assumption that appreciation has seized and values will remain stagnant. The golden days are over.

Well, we're talking about selling the current house for $600k and the new house is $320k....so the cash difference alone is big. Our current house won't be worth more than it is now for years, so there's not a ton of reason to wait. The new house is a small house in an area of Million dollar properties right now, and based on current price/sq ft figures, would be a $450-$500k house fixed up. Assuming prices stay stagnant...that leaves ~$100k to play with fixing it up and still making a profit/not losing in a few years. The house doesn't need THAT much, but how much exactly will be determined soon.

We're looking at saving $8k in taxes/year alone in the move ($12k vs $4k) which is a decent chunk of change IMO. Plus, the mortgage could be as small as I wanted it to be within reason.

[Desertbreh]

Saying this, there are short term dips and the last time inflation began running away the economy was is good shape. It may take a couple of years to take off IMO

Also on the same subject:

[CorvetteWaxer]

Sell the old , buy land, build a cabin, and /fin the rest of your life somewhere.

Back with this pipe dream. That is not going to happen if you have to "work" no one is going to hire you if you live in a cabin in Wisconsin. Get real people.

You also need health insurance, retirement funds, closeness to family and friends, internet.. dental work etc. Like come on.

Bah... Health is overrated.
Family and friends are definitely overrated.
Teeth?? I have a solar powered blender.

I only really disagreed with a couple of points in Kaczynski's manifesto anyway...

[ChrisoftheNorth]

Well, we're talking about selling the current house for $600k and the new house is $320k....so the cash difference alone is big. Our current house won't be worth more than it is now for years, so there's not a ton of reason to wait. The new house is a small house in an area of Million dollar properties right now, and based on current price/sq ft figures, would be a $450-$500k house fixed up. Assuming prices stay stagnant...that leaves ~$100k to play with fixing it up and still making a profit/not losing in a few years. The house doesn't need THAT much, but how much exactly will be determined soon.

We're looking at saving $8k in taxes/year alone in the move ($12k vs $4k) which is a decent chunk of change IMO. Plus, the mortgage could be as small as I wanted it to be within reason.

Is it a smaller house or a bigger house?

Also, said renovations won't trigger a reassessment?

Smaller house, finally. ~1,800 sq ft. Still too big, but better than our 2,400 now.

It really just needs a kitchen refresh and bathroom refresh that I know of. Those I'd probably do under the radar. If I need to move plumbing or do heavy electrical, I'd pull a permit.

House is an earth berm house built in the 80s entirely out of concrete and huge windows. There's not much to go wrong structurally, but the condition of the windows will need close inspection.

And doing the math, if the house gets assessed at $500k (that's the max IMO), that's still half the tax that we're paying now ($6k).

[ChrisoftheNorth]

Back with this pipe dream. That is not going to happen if you have to "work" no one is going to hire you if you live in a cabin in Wisconsin. Get real people.

You also need health insurance, retirement funds, closeness to family and friends, internet.. dental work etc. Like come on.

WFH, brah. Everyone's doing it. #canceltheworkplace

I can keep my current job through the end of the year at a minimum. After that, or when I'm forced back in, I'm rather certain that they'd rather keep me on WFH than replace me with someone else. I'm working on what might be the most important vehicle launch in the company's history, which takes place next year. They won't want to replace me during that, especially if I'll come into the office once a week or so.

What I'm realizing is how little I NEED to be happy. Downsizing, simplifying, reducing debt, that's all more appealing than being a slave to the city and the consumer cycle for reasons I can't come up with anymore.

[ChrisoftheNorth]

Sell the old , buy land, build a cabin, and /fin the rest of your life somewhere.

Back with this pipe dream. That is not going to happen if you have to "work" no one is going to hire you if you live in a cabin in Wisconsin. Get real people.

You also need health insurance, retirement funds, closeness to family and friends, internet.. dental work etc. Like come on.

There's things in between the sticks and full blown cities. That's they key to me. Traverse City has all the stuff we like in a "big" city, including solid job opportunities. We'll be 20 minutes from downtown, but that happens to feel like the middle of nowhere in the hills.

[max225]

Is it a smaller house or a bigger house?

Also, said renovations won't trigger a reassessment?

Smaller house, finally. ~1,800 sq ft. Still too big, but better than our 2,400 now.

It really just needs a kitchen refresh and bathroom refresh that I know of. Those I'd probably do under the radar. If I need to move plumbing or do heavy electrical, I'd pull a permit.

House is an earth berm house built in the 80s entirely out of concrete and huge windows. There's not much to go wrong structurally, but the condition of the windows will need close inspection.

And doing the math, if the house gets assessed at $500k (that's the max IMO), that's still half the tax that we're paying now ($6k).

Your prop taxes are 1/2%? I have never heard of this

[max225]

WFH, brah. Everyone's doing it. #canceltheworkplace

I can keep my current job through the end of the year at a minimum. After that, or when I'm forced back in, I'm rather certain that they'd rather keep me on WFH than replace me with someone else. I'm working on what might be the most important vehicle launch in the company's history, which takes place next year. They won't want to replace me during that, especially if I'll come into the office once a week or so.

What I'm realizing is how little I NEED to be happy. Downsizing, simplifying, reducing debt, that's all more appealing than being a slave to the city and the consumer cycle for reasons I can't come up with anymore.

Home ownership doesn’t happen on a bud budget. You need to make 6 figures if she decides to pursue her “realtor dream” not sure how you plan on doing that without the FCA pay

[ChrisoftheNorth]

Smaller house, finally. ~1,800 sq ft. Still too big, but better than our 2,400 now.

It really just needs a kitchen refresh and bathroom refresh that I know of. Those I'd probably do under the radar. If I need to move plumbing or do heavy electrical, I'd pull a permit.

House is an earth berm house built in the 80s entirely out of concrete and huge windows. There's not much to go wrong structurally, but the condition of the windows will need close inspection.

And doing the math, if the house gets assessed at $500k (that's the max IMO), that's still half the tax that we're paying now ($6k).

Your prop taxes are 1/2%? I have never heard of this

Taxes vary widely by city, and it's not a straight %. In our current house, we're paying an effective rate of 2.2% annually. Astronomical IMO.

[max225]

Your prop taxes are 1/2%? I have never heard of this

Taxes vary widely by city, and it's not a straight %. In our current house, we're paying an effective rate of 2.2% annually. Astronomical IMO.

It depends ... we’re at 1.2 Texas is 2-3% most places don’t go into 1s

[ChrisoftheNorth]

Taxes vary widely by city, and it's not a straight %. In our current house, we're paying an effective rate of 2.2% annually. Astronomical IMO.

It depends ... we’re at 1.2 Texas is 2-3% most places don’t go into 1s

Texas also doesn't have an income tax, which we do at 4.25% plus our 2.2% property tax and 6% sales tax. I consider that egregious for where we live and what we get.

Northern MI is dirt cheap because there's no public stuff to pay for really... 1.2% or so on property tax is the norm unless you live in a "city" with more public works.

[CorvetteWaxer]

It depends ... we’re at 1.2 Texas is 2-3% most places don’t go into 1s

Texas also doesn't have an income tax, which we do at 4.25% plus our 2.2% property tax and 6% sales tax. I consider that egregious for where we live and what we get.

Northern MI is dirt cheap because there's no public stuff to pay for really... 1.2% or so on property tax is the norm unless you live in a "city" with more public works.

Still cheap compared to here.
12.3% income tax + 1.1-1.2% property tax on the crazy priced homes + 7.25% base sales tax + additional regional sales tax bringing it up over 9% in many places.

I can't wait to GTFO of here early next year.

[ChrisoftheNorth]

Texas also doesn't have an income tax, which we do at 4.25% plus our 2.2% property tax and 6% sales tax. I consider that egregious for where we live and what we get.

Northern MI is dirt cheap because there's no public stuff to pay for really... 1.2% or so on property tax is the norm unless you live in a "city" with more public works.

Still cheap compared to here.
12.3% income tax + 1.1-1.2% property tax on the crazy priced homes + 7.25% base sales tax + additional regional sales tax bringing it up over 9% in many places.

I can't wait to GTFO of here early next year.

Well yea, I don't live there for a reason...I can't afford it. Can't even afford Detroit anymore apparently.

:poverty:

[Johnny_P]

So parents bought a truck last weekend. To tow their travel trailer they ordered and will be here in a few months.

2020 F150 in Max225 Mini Cooper Gray. Crew cab XLT.

They drove a couple hours to this dealer man that had inventory and gave a good price.

Halfway home they turned the bitch around and went back because the truck was shaking at highway speeds. Dealer man said they would put new tires on it and test drive. They call next day and say the tires didn’t do it, there’s a problem in the rear end.

Dad said keep your shitty truck and give me my money back. Which they did.

Yay Fraud.

[Johnny_P]

5 mins of research turns up a ton of threads of late model F150s with some bullshit rear end shaking on essentially brand new vehicles.

[Desertbreh]

So parents bought a truck last weekend. To tow their travel trailer they ordered and will be here in a few months.

2020 F150 in Max225 Mini Cooper Gray. Crew cab XLT.

They drove a couple hours to this dealer man that had inventory and gave a good price.

Halfway home they turned the bitch around and went back because the truck was shaking at highway speeds. Dealer man said they would put new tires on it and test drive. They call next day and say the tires didn’t do it, there’s a problem in the rear end.

Dad said keep your shitty truck and give me my money back. Which they did.

Yay Fraud.

WOW. That's terrible.

[max225]

So parents bought a truck last weekend. To tow their travel trailer they ordered and will be here in a few months.

2020 F150 in Max225 Mini Cooper Gray. Crew cab XLT.

They drove a couple hours to this dealer man that had inventory and gave a good price.

Halfway home they turned the bitch around and went back because the truck was shaking at highway speeds. Dealer man said they would put new tires on it and test drive. They call next day and say the tires didn’t do it, there’s a problem in the rear end.

Dad said keep your shitty truck and give me my money back. Which they did.

Yay Fraud.

Wow that’s horrible. Also curious what the deal that they got was ?

Current market is absolutely terrifying.

I was driving by a clean 2001 4 runner yesterday and I figured since I liked working on the taco, why not take a look.

134k Miles
Baldish tires
Dented Tail gate with a busted lock
$14,900

that’s getting close to what I paid for the mini.

[coogles]

5 mins of research turns up a ton of threads of late model F150s with some bullshit rear end shaking on essentially brand new vehicles.

Crazy.

Meanwhile my dad's 2013 Fusion with the 2.0 Ecoboom is at 140k miles and it's never seen a service center other than Jiffy Lube.

[wap]

So parents bought a truck last weekend. To tow their travel trailer they ordered and will be here in a few months.

2020 F150 in Max225 Mini Cooper Gray. Crew cab XLT.

They drove a couple hours to this dealer man that had inventory and gave a good price.

Halfway home they turned the bitch around and went back because the truck was shaking at highway speeds. Dealer man said they would put new tires on it and test drive. They call next day and say the tires didn’t do it, there’s a problem in the rear end.

Dad said keep your shitty truck and give me my money back. Which they did.

Yay Fraud.

WOW. That's terrible.

And somewhat that they actually refunded their dough.