When I go to sell a car, I don't add in the gas, oil changes, license plates, taxes, tires, or insurance to the cost of the car. That's just maintenance and cost of ownership. Do you add in those things as a loss when you sell a car?
https://www.gobankingrates.com/investing/real-estate/cities-where-broke-earning-100000/#22 I work in Bellevue, $140k to live there. That is why I live 20 miles south in Kent! To live "in" most major cities it is expensive, that is why they created suburbs.
Ok lets say you bought that car 50 years ago and did not maintenance that car just let it sit in the field.. what is worth... your brother does the same.. His is maintained what is his worth..
Dont kill me guys but all this living without over spending is making me think I should put a Chevy in the Buick and call it done. Just playing
Exactly. My brother is going to make a killing because he maintained his car. I wouldn't sit there and add up the gas/oil changes/license plates/etc. he put through the thing and take that out of his profit. If I did that, I'd be so backward on some of my stuff it wouldn't even be funny. I'm probably -$200,000 on my Mustang at 28 years of ownership thinking that way. I put way more money in gas through my F100 than it's worth every year. But, when/if I go to sell it, I'll still make money.
Reallitly is a car and House on land are to complete different things. Only way your going to make real money on a 50 year old car was put 50 miles a month on the dang thing keep the maintenance cost down. In the 92 years of the sale of the 1,100.000 H&L they got back some of there money...
I think Brad's point was just that paying $17k "then" is the same as paying $250k "now" in today's money. You would compare the $250k (not $17k) to the $1.1M. Given that, it is likely they made a nice profit on it selling it.
Back to Roy's subject...... The price of housing here has far outpaced the income. They're building so much "affordable" and "free" housing for all the homeless and derelicts that the taxes have gone completely insane. I make roughly 60k/year, and luckily I can afford to live a comfortable life. But if I had a family, I'd be screwed at that income. A 2 bedroom unit in a duplex will run a person over a grand a month here. Other side of the mountains, it's about 1/3 that. My house I owned in the small farming community of Conrad was a 3 bedroom, 2 bath on 2 lots (one being a corner) with a 2 stall garage and shed. Nice place. Bought it for 32k back in 2001. Sold it in 2004 after some remodeling for 54k and thought I cut a fat hog. Then I moved here to the city of Missoula, and the same place would easily be $275,000-300,000. Nuts that 3 hours away and in the same state it's a completely different world. You make more money over here, but it isn't enough for most to cover the cost of living increase from the flat land to the mountains.
But it dont work like that... Now if some one was to put $17000 worth of gold in a jar and buried it on some land that someone else is paying the taxes on .. Then dig it up 92 years later that would be profit. No maintenance.
im agreeing with some on here about living beyond their means . im originally from the uk where people aren't generally so well off as America . when I moved here I soon discovered how a lot of people were in debt because mostly of greed . sure other things added to that like medical bills and other things that happen . I paid 39k for my house and 2.5 acres of land out in the country (SW Oklahoma) when I arrived here 12 years ago . I got lucky as it was a bank repo but was determined I wasn't going to rent . I don't make no where near 50k a year but I live ok . got my first new vehicle two years ago at 50 only when I knew I could afford it .i have my Buick and a work truck . people say im tight with money but im putting my money a side for things I may need . if my Ac at home goes out or my wifes car needs a new transmission I can take the money of savings . almost 90% of the people I know and work with would have to get a loan to do this , we actualy discussed this a few weeks ago .
According to CNN, 40% of all Americans cannot come up with $400 in cash. IMHO if you fit this category, you are doing something wrong as far as money management goes. When I lived in Massachusetts, for 10 years we had a next door neighbor who smoked, drank beer by the case, would leave the front door open for hours in the winter - I think he was trying to heat the whole town, and would drive to Dunkin Donuts every morning to buy coffee for his wife and himself. His horribly-maintained house was finally foreclosed upon, despite the fact that both he and his wife had decent-paying jobs (he did get fired often, but was always able to find another truck-driving job). No sympathy from me.
No, it's 400.00. https://money.cnn.com/2018/05/22/pf/emergency-expenses-household-finances/index.html
saving $3 a day doesn't even register as a problem I think . most people I work with go out to lunch every day and spend between 10-15 a day . that's well over $3,000 a year just on one meal a day for one person . I spend between 10-15 a week and take my own lunch . we could have a really good vacation for $3,000 each year
