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AK
ParticipantFolks, $250/mo for car insurance comes out to $3000/yr which isn’t that unusual for a younger couple with two kids. Especially if one’s business involves a lot of driving.
I’d say that car insurance is way up there with housing costs as the #1 reason things seem to be harder on the current crop of 20-somethings. Car insurance wasn’t exactly cheap 25 years ago, but the cost wasn’t crippling the way it is today.
I do agree that you’re paying a few hundred bucks too much in rent. Ditto for groceries. And you need to earmark a few hundred bucks a month for a replacement car fund, to account for the wear and tear on your vehicles. They may be paid for, but they won’t last forever.
If that 10% tithe is truly voluntary, is within your means, and is being put to good use, I think it’s laudable in an age of selfishness and entitlement. If not … you may feel more ethically justified in cutting back once you have made some sacrifices in your own life.
I realize there are churches that criticize individual savings as a sign of “pride” and ask members to rely on the church in times of hardship. Funny how they end up borrowing money from nonbelievers like me when the church doesn’t come through. I also realize there are churches that require a 10% tithe as a contractual obligation of membership. I’m not sure what to think about that.
ParticipantHopped jobs recently for a better benefits package and working conditions. Expecting 3% at my first review.
ParticipantHopped jobs recently for a better benefits package and working conditions. Expecting 3% at my first review.
Participant” … spend some of your time on revenge but not all of it …”
Great advice temeculaguy.
Participant” … spend some of your time on revenge but not all of it …”
Great advice temeculaguy.
ParticipantI too am surprised by the widespread use of water-hungry landscaping. I remember the dry years of 1976-78 in Nor Cal … my parents switched to drought-resistant landscaping, as did many other homeowners. Unfortunately closed minds can’t distinguish between xeriscape / native vegetation and weeds.
On the subject of brown lawns … some could be the result of intentional neglect. Somewhere in the forums is a link to an interview with a short sale “specialist” who says that brown lawns help convince lenders/servicers that a property is impaired and will be hard to sell as an REO.
ParticipantI too am surprised by the widespread use of water-hungry landscaping. I remember the dry years of 1976-78 in Nor Cal … my parents switched to drought-resistant landscaping, as did many other homeowners. Unfortunately closed minds can’t distinguish between xeriscape / native vegetation and weeds.
On the subject of brown lawns … some could be the result of intentional neglect. Somewhere in the forums is a link to an interview with a short sale “specialist” who says that brown lawns help convince lenders/servicers that a property is impaired and will be hard to sell as an REO.
May 24, 2007 at 11:15 AM in reply to: Home Sales Soar by Record Amount . . . Are you kidding me? #54760ParticipantCalculated Risk notes that March sales looked encouraging too but were then revised downward. Quite a bit downward.
Anyway it’s nice to read some thoughtful discussion of the new home sales numbers rather than the monthly “these numbers are stupid and useless, why do we even report them” post that appears on another prominent housing blog 🙂
May 24, 2007 at 11:15 AM in reply to: Home Sales Soar by Record Amount . . . Are you kidding me? #54775ParticipantCalculated Risk notes that March sales looked encouraging too but were then revised downward. Quite a bit downward.
Anyway it’s nice to read some thoughtful discussion of the new home sales numbers rather than the monthly “these numbers are stupid and useless, why do we even report them” post that appears on another prominent housing blog 🙂
ParticipantOh, and I didn’t see any mention of the true “drank the Kool-Aid” solution to their problem … take out a reverse mortgage to cover the carrying costs on the investment properties.
ParticipantOh, and I didn’t see any mention of the true “drank the Kool-Aid” solution to their problem … take out a reverse mortgage to cover the carrying costs on the investment properties.
ParticipantBoo hoo hoo. They retired early with a mere $260K in retirement savings, yet they wanted multiple McMansions in resort areas, and they wanted to get filthy rich on top of that. Now they’re so poor they can’t go on cruises or join a country club.
But to me these quotes really stand out:
“We knew prices wouldn’t keep going up like they had been,” says Steve. “But we figured with demand from baby boomers retiring, homes in Florida would keep appreciating.”
Sounds like a case of the “we thought things were different here” disease.
The properties have been on the market for nine months without a serious offer, and the carrying costs are killer … They’re determined to unload their investment properties, even if it means taking a loss.
They were holding out for a profit all this time?!?!?!? Methinks they deserve to lose their money.
ParticipantBoo hoo hoo. They retired early with a mere $260K in retirement savings, yet they wanted multiple McMansions in resort areas, and they wanted to get filthy rich on top of that. Now they’re so poor they can’t go on cruises or join a country club.
But to me these quotes really stand out:
“We knew prices wouldn’t keep going up like they had been,” says Steve. “But we figured with demand from baby boomers retiring, homes in Florida would keep appreciating.”
Sounds like a case of the “we thought things were different here” disease.
The properties have been on the market for nine months without a serious offer, and the carrying costs are killer … They’re determined to unload their investment properties, even if it means taking a loss.
They were holding out for a profit all this time?!?!?!? Methinks they deserve to lose their money.
ParticipantLiquidity is nice, but I doubt the average person can earn a consistent after-tax return exceeding the interest on an IO mortgage.
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