Results 13,851 to 13,875 of 27108
Thread: Real Estate Crash thread
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05-13-2021, 11:47 AM #13851
Let's face it, gents, a million bucks ain't what it used to be.
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05-13-2021, 11:55 AM #13852Hucked to flat once
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By a lot of those definitions I'm rich. And I dig it. I think maybe a good line to draw is rich vs wealthy. Wealthy is sustainable without having to work. Rich is you made or inherited some money but if you make a bad choice, quit working, have some bad luck, you might not be rich anymore. Danno, you have a few contradictory statements. You said being rich means you can buy a new car with cash but then went on to say being able to pass down $50-100k for a kids down payment doesn't make you rich. Confusing. Ultimately, I don't care how you define it.
I'll stand by Glade saying the US is a shithole and we should sterilize rich people while getting help from his family to buy a house is cunty.
But really posting on this here ski forum, I'm going with a SFB quote-"Face shots are a powerful currency, get paid."
Fred-I'm about two hours of dealing with the man then it's party like a rich kid time. I'm going to burn one down, hop on my sweet ass carbon bike and get a ride from the house, then I'm going to ride downtown to the pub and buy some pints for charity, then load the van up to get out of town for the weekend. Not sure where that puts me but it's well into the top 50%ers. Because it seems you're either rich or poor these days.
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05-13-2021, 12:02 PM #13853
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05-13-2021, 12:13 PM #13854
If you're a capable professional that's had some luck and made good moves, good chance you're in the top tier once you're 40+. That's not a bad thing! It likely means there's some level of meritocracy still out there in terms of work hard/get paid. It isn't shameful to have money. Just don't pretend like you don't have capital power well in excess of 90%+ of the population. The old money/super rich are another dimension entirely, but there aren't that many of them.
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05-13-2021, 12:25 PM #13855"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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05-13-2021, 12:35 PM #13856
Contradictions on the TRGs? Unpossible. In any event, I was just throwing shit out there about a mindset. Someone who can walk in and slap 50 grand down on a new car without batting an eye is different than someone who throws 50 grand to their kid for a down payment. But I'll own the contradiction.
Oh, my bad. Should have kept reading.
Personally, I think saying the US is a shithole and we should sterilize rich people is cunty, full stop. Has nothing to do with getting help from his family, that's pretty much irrelevant to me; maybe tone deaf, but it doesn't mean he's rich and it isn't what makes his statement cunty.
Can't argue with that. And I definitely don't get paid enough."fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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05-13-2021, 12:50 PM #13857
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05-13-2021, 01:22 PM #13858
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05-13-2021, 01:28 PM #13859
I would sacrifice $50k to help my kid buy a home over buying myself a car, cuz I ain't wealthy, just equity well off and equity means nothing to me. If the market tanked 50% tomorrow, I would be good with that, so my kids could afford nicer places than they can today.
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05-13-2021, 01:37 PM #13860
Because whether I feel I am flush enough with cash to plunk it down on a "luxury" (since one doesn't have to buy a $50k car to have reliable/comfortable transport), especially a depreciating asset, seems quite different from using that same amount of money to help my kid buy something that is not a luxury (yes, I realize one could argue that it is but permanent housing is different), is not inherently a depreciating asset, and may in fact help my kid move along the path to life success. One feels like being a baller, and the other feels like being a good parent.
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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05-13-2021, 01:38 PM #13861
Regardless, I don't have $50k to plunk down on a new car or a down payment on my kid's house (nor does she need it, she's 10).
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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05-13-2021, 01:39 PM #13862Registered User
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Really? A 65 yr old retiree on pension and SS who owns outright a small place in a town with a lower cost of living wouldnt toss their kid 10% of their net worth to help their kids family afford a house in a nicer neighborhood with good schools? I know i sure as shit would if i was that 65 yr old.
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05-13-2021, 01:43 PM #13863
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05-13-2021, 01:46 PM #13864
My kids are gettin' university. That's it. After that, they are OFF THE PAYROLL.
Maybe they can convince their gramma to help them with the house crap.
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05-13-2021, 01:52 PM #13865
You realize pensions have a value right? So in your example, that retiree is giving their kid much much less than 10% of their net worth. Someone with a pension, social security, and a million bucks in the bank is not just worth a million, several times over that actually.
Another great example of how most of this board has zero idea how most of this country fares economically. But yeah, keep on keeping on with the examples of multimillionaires just being regular guys amiright?Live Free or Die
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05-13-2021, 01:58 PM #13866
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05-13-2021, 01:59 PM #13867
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05-13-2021, 02:02 PM #13868
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05-13-2021, 02:05 PM #13869Hucked to flat once
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Sure it does. Unless his family moved from another country bringing their wealth with them, they live in a country where they were able to generate wealth and pass that wealth onto the next generation-yeah, fuck the US right? Maybe they could have done that in any other country but it's not like the US didn't allow them to make money or realize gains on real estate and pass those gains onto future generations. It's like making a cunt cake topped in dooshy glazed frosting. Whether or not that passing of wealth makes him rich, I guess we can debate the definition of "rich" rest of the day. When a third of the country doesn't own their primary residence and half the country can't write a check for $1,000 in an emergency, I would put that on the richer side of poor and certainly tone deaf.
More on real estate, the apartments across the street were listed yesterday for $1.8m. 10 small units on about .25 acres. Five separate California plate cars showed up for the open house. Didn't see any locals. Will be a nice little investment property for a rich out of state investor. I'm sure rent won't go up for anyone living there.
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05-13-2021, 02:09 PM #13870
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05-13-2021, 02:13 PM #13871
When I was a kid, we thought ‘rich’ were people who didn’t have to buy the discount cereal in bags. They actually bought the fancy-pants name brand stuff in boxes.
And they went to restaurants more than once a month.
And didn’t water down the dish soap to make it go farther.Forum Cross Pollinator, gratuitously strident
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05-13-2021, 02:14 PM #13872Registered User
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Damn, so the average government pension collector is nearly a millionaire without any other assets by your calculation. Easily over a millionaire if you are counting their SS checks as well, which you would have to in order to be consistent in your fucked up Net Worth calculation. Also would need to factor in all future wages from part time jobs that many retirees hold down too. I mean hell, while we are at it, lets add in the cost of government supplied health insurance too!
Point is, it is not outrageous to think that someone with a $1mil net worth would be OK with a $900k net worth if they were able to give their kids and grandkids a better opportunity at a better life through helping them purchase a home in a nice area with good schools.
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05-13-2021, 02:16 PM #13873
who knew all the retired teachers and cops and firefighters, living off their pensions, were baller rich millionaires!
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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05-13-2021, 02:23 PM #13874Banned
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05-13-2021, 02:25 PM #13875Registered User
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