awful knawful Posted February 27, 2018 Share Posted February 27, 2018 Just now, Wildboer said: No, this is way over awful knawful's head logic. A house can be invested in, a home should not be an investment. Keep saying it. Maybe you'll get to me. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 27, 2018 Platinum Contributing Member Share Posted February 27, 2018 4 minutes ago, awful knawful said: Is this polaris550 logic? If you say it enough everyone will believe it. Let's call it a savings account then. I can sell it. Bank $200k and move into an apartment across the hall from your broke ass! Yep. No asset there! True . between property taxes and maintenance its not a huge gain. That being said we all need somewhere to live. That's where the investment is Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 27, 2018 Platinum Contributing Member Share Posted February 27, 2018 Town I work out of house s are between $450 k and a little over 1 million. ( 35 minutes from Boston) 1/2 ground North I bought a modest (1850 square from ) home on 6.3 acres for $197k Quote Link to comment Share on other sites More sharing options...
02sled Posted February 27, 2018 Share Posted February 27, 2018 Lots of people will look at a house as an investment since the alternative is renting. Either way you have to pay to live somewhere. At least with buying a house you build that equity and have something to show for it. Often the cost of the mortgage isn't substantially more than the cost of rent. Often people will look and say it cost me $500K to buy my house and now it's worth $1M. Let's cash in and move. Way too many forget that to replace it with similar is going to cost $1M as well so you don't realize any increased benefit. There are the others however that are now retired and/or empty nesters that will down size or move out of town. They will sell for that $1M and get a much smaller house or a comparable sized house out of town, perhaps cottage country where they can sled from the door for $500K and augment what they have for retirement with the other $500K. No capitol gains on the sale of the principle residence either. For us at some point in time we will likely take a reverse mortgage and enjoy spending the money so that when we go there will be little money left. Quote Link to comment Share on other sites More sharing options...
awful knawful Posted February 27, 2018 Share Posted February 27, 2018 3 minutes ago, steve from amherst said: True . between property taxes and maintenance its not a huge gain. That being said we all need somewhere to live. That's where the investment is No. Owning is expensive. Mortgage is only part of it. Quote Link to comment Share on other sites More sharing options...
02sled Posted February 27, 2018 Share Posted February 27, 2018 3 minutes ago, awful knawful said: No. Owning is expensive. Mortgage is only part of it. Other than utilities and taxes which are relatively insignificant we haven't had any significant maintenance costs when you look at the annualized cost of the maintenance. 2 Quote Link to comment Share on other sites More sharing options...
awful knawful Posted February 27, 2018 Share Posted February 27, 2018 41 minutes ago, Wildboer said: No, this is way over awful knawful's head logic. A house can be invested in, a home should not be an investment. Wildboer is that you? Quote Link to comment Share on other sites More sharing options...
Wildboer Posted February 27, 2018 Share Posted February 27, 2018 57 minutes ago, awful knawful said: Keep saying it. Maybe you'll get to me. Ain't nobody got time for that. 56 minutes ago, steve from amherst said: True . between property taxes and maintenance its not a huge gain. That being said we all need somewhere to live. That's where the investment is We all need food and water too... 52 minutes ago, 02sled said: Lots of people will look at a house as an investment since the alternative is renting. Either way you have to pay to live somewhere. At least with buying a house you build that equity and have something to show for it. Often the cost of the mortgage isn't substantially more than the cost of rent. Often people will look and say it cost me $500K to buy my house and now it's worth $1M. Let's cash in and move. Way too many forget that to replace it with similar is going to cost $1M as well so you don't realize any increased benefit. There are the others however that are now retired and/or empty nesters that will down size or move out of town. They will sell for that $1M and get a much smaller house or a comparable sized house out of town, perhaps cottage country where they can sled from the door for $500K and augment what they have for retirement with the other $500K. No capitol gains on the sale of the principle residence either. For us at some point in time we will likely take a reverse mortgage and enjoy spending the money so that when we go there will be little money left. Do you have kids? 16 minutes ago, awful knawful said: Wildboer is that you? This looks like somebody cloned Tom Green Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted February 27, 2018 Share Posted February 27, 2018 3 hours ago, Wildboer said: No, this is way over awful knawful's head logic. A house can be invested in, a home should not be an investment. really ? I plan on living off my investment property's for my retirement. ez 10g a month . or i dump em all and bank Quote Link to comment Share on other sites More sharing options...
Wildboer Posted February 27, 2018 Share Posted February 27, 2018 1 minute ago, Ez ryder said: really ? I plan on living off my investment property's for my retirement. ez 10g a month . or i dump em all and bank A property can be an investment, sure. Not a home. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted February 27, 2018 Share Posted February 27, 2018 1 minute ago, Ez ryder said: really ? I plan on living off my investment property's for my retirement. ez 10g a month . or i dump em all and bank That's selfish. Quote Link to comment Share on other sites More sharing options...
Wildboer Posted February 27, 2018 Share Posted February 27, 2018 10 minutes ago, Zambroski said: That's selfish. It's capitalist, that's for sure. Quote Link to comment Share on other sites More sharing options...
Cold War Posted February 27, 2018 Share Posted February 27, 2018 That's the problem with you old guys...........Always running your mouths instead of shutting up and learning from the kids. LMAO @ guys who have owned homes, properties, for 20- 30 years acting like they know what's going on. STFU........... and maybe you will learn something. 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted February 27, 2018 Share Posted February 27, 2018 1 minute ago, Cold War said: That's the problem with you old guys...........Always running your mouths instead of shutting up and learning from the kids. LMAO @ guys who have owned homes, properties, for 20- 30 years acting like they know what's going on. STFU........... and maybe you will learn something. Man, look. I don't wanna judge or anything but, this came off as a bit racist. I think you may be heading for the wrong side of history at this point. Just sayin'. Quote Link to comment Share on other sites More sharing options...
02sled Posted February 27, 2018 Share Posted February 27, 2018 41 minutes ago, Wildboer said: A property can be an investment, sure. Not a home. We took a bunch of money out of our investment portfolio a few years and bought a couple of Muskoka waterfront lots as investments. They have been going up in value consistently and performing equal to or better than our other investments. Just after we bought they were going up 20%+ a year. A home can be an investment if your plan is to at some point in time downsize, staying in the same city or move somewhere else where the cost is significantly lower and then pocket the difference. My parents retired to the cottage in Wasaga Beach and sold the house in Toronto. For them the sale of the house augmented their retirement finances significantly and was an investment. 1 Quote Link to comment Share on other sites More sharing options...
Wildboer Posted February 27, 2018 Share Posted February 27, 2018 23 minutes ago, Cold War said: That's the problem with you old guys...........Always running your mouths instead of shutting up and learning from the kids. LMAO @ guys who have owned houses, properties, for 20- 30 years acting like they know what's going on. STFU........... and maybe you will learn something. FTFY. 20 minutes ago, Zambroski said: Man, look. I don't wanna judge or anything but, this came off as a bit racist. I think you may be heading for the wrong side of history at this point. Just sayin'. All white people are on the wrong side of history, get with the program Zam!!! 10 minutes ago, 02sled said: We took a bunch of money out of our investment portfolio a few years and bought a couple of Muskoka waterfront lots as investments. They have been going up in value consistently and performing equal to or better than our other investments. Just after we bought they were going up 20%+ a year. A home can be an investment if your plan is to at some point in time downsize, staying in the same city or move somewhere else where the cost is significantly lower and then pocket the difference. My parents retired to the cottage in Wasaga Beach and sold the house in Toronto. For them the sale of the house augmented their retirement finances significantly and was an investment. A house can be an investment, sure. Notice how you didn't say your parents old their home, they sold their house, but they still have a home. Quote Link to comment Share on other sites More sharing options...
02sled Posted February 27, 2018 Share Posted February 27, 2018 12 minutes ago, Wildboer said: FTFY. All white people are on the wrong side of history, get with the program Zam!!! A house can be an investment, sure. Notice how you didn't say your parents old their home, they sold their house, but they still have a home. Semantics... they sold their HOME IN TORONTO and pocketed a very healthy amount of money. They moved TO THE COTTAGE AND MADE THAT THEIR NEW HOME. Neither had a mortgage and hadn't for a very long time. Both had appreciated significantly in value. Quote Link to comment Share on other sites More sharing options...
washedupmxer Posted February 27, 2018 Share Posted February 27, 2018 sounds like wildboy is concerned about leaving mom and dads house Quote Link to comment Share on other sites More sharing options...
02sled Posted February 27, 2018 Share Posted February 27, 2018 Attitudes are changing... retirees are increasingly spending their savings rather than living frugally to hand the cash over to their kids. Seniors more likely to spend savings than leave inheritance for their children, survey finds http://www.abc.net.au/news/2017-10-05/seniors-more-likely-to-use-savings-than-leave-inheritance-survey/9014800 I used to tell my parents that if their will said being of sound mind and body I spent all my money before I went and had a hell of a good time doing it I would applaud. My brother and I encouraged them to live life to the fullest and enjoy what they worked so hard for. I'm happy to say they did. Quote Link to comment Share on other sites More sharing options...
washedupmxer Posted February 27, 2018 Share Posted February 27, 2018 Just now, 02sled said: Attitudes are changing... retirees are increasingly spending their savings rather than living frugally to hand the cash over to their kids. Seniors more likely to spend savings than leave inheritance for their children, survey finds http://www.abc.net.au/news/2017-10-05/seniors-more-likely-to-use-savings-than-leave-inheritance-survey/9014800 I used to tell my parents that if their will said being of sound mind and body I spent all my money before I went and had a hell of a good time doing it I would applaud. My brother and I encouraged them to live life to the fullest and enjoy what they worked so hard for. I'm happy to say they did. how it should be......... kids these days wont be around taking care of us either so you better have cash for that as well Quote Link to comment Share on other sites More sharing options...
Wildboer Posted February 27, 2018 Share Posted February 27, 2018 19 minutes ago, washedupmxer said: sounds like wildboy is concerned about leaving mom and dads house Already did that... Quote Link to comment Share on other sites More sharing options...
Cold War Posted February 27, 2018 Share Posted February 27, 2018 1 hour ago, Zambroski said: Man, look. I don't wanna judge or anything but, this came off as a bit racist. I think you may be heading for the wrong side of history at this point. Just sayin'. Yes, my racism has been well documented in the black panther thread. It totally triggered me!!!!!! Quote Link to comment Share on other sites More sharing options...
Whiskey Tango Foxtrot Posted February 27, 2018 Share Posted February 27, 2018 8 minutes ago, Wildboer said: Already did that... We're all real fucking proud of you! 1 Quote Link to comment Share on other sites More sharing options...
Wildboer Posted February 27, 2018 Share Posted February 27, 2018 25 minutes ago, 02sled said: Attitudes are changing... retirees are increasingly spending their savings rather than living frugally to hand the cash over to their kids. Seniors more likely to spend savings than leave inheritance for their children, survey finds http://www.abc.net.au/news/2017-10-05/seniors-more-likely-to-use-savings-than-leave-inheritance-survey/9014800 I used to tell my parents that if their will said being of sound mind and body I spent all my money before I went and had a hell of a good time doing it I would applaud. My brother and I encouraged them to live life to the fullest and enjoy what they worked so hard for. I'm happy to say they did. This is some whacked out boomer logic if I ever saw it. This is late stage capitalism, they're spending all their savings because they have less savings... It's the economy stupid!!! 2 minutes ago, Cold War said: Yes, my racism has been well documented in the black panther thread. It totally triggered me!!!!!! It did indeed, so much so you're still going on about it... Quote Link to comment Share on other sites More sharing options...
02sled Posted February 27, 2018 Share Posted February 27, 2018 (edited) 22 minutes ago, Wildboer said: This is some whacked out boomer logic if I ever saw it. This is late stage capitalism, they're spending all their savings because they have less savings... It's the economy stupid!!! You're totally off base on having less savings. The baby boomers are the most affluent retirees history has ever seen. https://www.bloomberg.com/news/articles/2016-07-12/the-richest-generation-in-u-s-history-just-keeps-getting-richer Retirees are more active than previous generations. They are traveling, buying the things they want, not just what they need and having fun doing it. What's the matter.... you afraid mom and dad won't leave you anything. Edited February 27, 2018 by 02sled Quote Link to comment Share on other sites More sharing options...
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