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Rhyno posted:This won me over with the attached insulated garage. I prefer it over building to be honest. I'll post pics if they accept our offer. Good luck with that man, sounds like a great find. Insulated is like super plus good.
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Oct 15, 2018 23:49
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CAT INTERCEPTOR posted:We only need to go back a few years to know that's not true. Housing most certainly reverses and when it does it reverses hard. Also houses are not assets. They are correctly notes as liabilities. They are being treated as wealth stores when ooooh boy that shouldnt be the case at all. Mortgages are liabilities.
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Oct 15, 2018 23:55
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ilkhan posted:Houses are assets. You haven’t seen my house. I mean, the *land* is an asset, yes. I’m being harsh. My house is still actually structurally sound. I just hate it after 18 years. First house, didn’t really know what I wanted.
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Oct 15, 2018 23:59
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ilkhan posted:Houses are assets. Not often that I agree with you, but... you're right.
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Oct 15, 2018 23:59
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EVERYWHERE 
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ilkhan posted:Houses are assets. This is 100% wrong especially as an owner occupier - A house is not an asset. Stop with this bullshit straight away. Just because you can sell occasionally at a profit doesn't make it any different - liabilities are quite often bought and sold at a profit (remember 2008?), but it doesn't make them assets. Let alone when we are in the delusion that personal housing is a wealth accumulator - heres a fact, the media that keeps ppushing this line actually has a profit motive as much of the income they rely on is for housing buy / sell. Housing is always a liability as it is ALWAYS costing you. It is not a means to production, it is always a money drainer that has personal benefits of shelter and warmth or maybe a 10 car garage. Yeah you could get lucky and sell for a profit. But when you actually do the sums on what the opportunity cost, the real cost of the mortgage, the upkeep and maintenace and all the added costs like rates and taxes ooooh boy the sums dont look so good now. Even as a landlord, it's still a liability, even if it is generating income. The only time I can say a house is an asset is IF your direct means of income is professionally flipping them. It has become a means of production and even then there are heavy liabilities. House flipping Vanilla Ice style take s fuckload of work and resources to achieve. Yes I'd happily buy another house one day but I'm not going to buy one under the delusion it's an asset. quote:I think he was being cheeky, CT. People genuinely believe it and it's continually being said in the media. It's not a good thing to leave unchallenged. CAT INTERCEPTOR fucked around with this message at 00:37 on Oct 16, 2018 |
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Oct 16, 2018 00:35
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CAT INTERCEPTOR posted:This is 100% wrong especially as an owner occupier - A house is not an asset. as·set ˈaset/Submit noun property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
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Oct 16, 2018 00:56
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An asset is something you own. Regardless of being able to sell at a profit or a loss, it's still owned by you and thus an asset. The word you are looking for is investment. This may be an American English vs Australian English thing.
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Oct 16, 2018 01:03
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Really it's more comparing accounting definitions versus general parlance.
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Oct 16, 2018 01:15
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Meanwhile I'm sitting here like "man I'd like to own something some day but lmao at this $300k for a condo $650k for a house bullshit". I love living in the Pacific Northwest, but mother of gently caress it's hard to break into the hellmarket here.
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Oct 16, 2018 02:02
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Ahhhh they have 20 hours to respond to our offer I'm going nuts.
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Oct 16, 2018 03:10
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Kazinsal posted:Meanwhile I'm sitting here like "man I'd like to own something some day but lmao at this $300k for a condo $650k for a house bullshit". The PNW/California lyfe is leaking into Utah now too. Housing is ridiculous.
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Oct 16, 2018 03:52
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Somewhat Heroic posted:The PNW/California lyfe is leaking into Utah now too. Housing is ridiculous. Housing is stalling a bit in Sacramento. Maybe I'll be able to buy a house someday.
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Oct 16, 2018 04:02
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nm posted:Housing is stalling a bit in Sacramento. Maybe I'll be able to buy a house someday.
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Oct 16, 2018 04:10
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tetrapyloctomy posted:goddamnit are we talking real cars here or a car metaphor, i can't even tell anymore Fridge corn Bajaha posted:It's a cheese, but it's grated parm so not melted is a-ok. This place does some pretty weird combinations but they're drat good. Garlic parm, I'm guessing? Pretty common flavor these days; tossed in a garlic sauce with grated or shredded parm on top. I'm not much on garlic after THE INCIDENT (friend made his own pesto sauce while drunk as hell, used an entire head of garlic instead of a few cloves, left me sweating/puking/making GBS threads garlic for several days), nor am I much on wings, but at Pizza Hut/WingStreet it was one of the more popular flavors. Pretty much every wing place has some version of it. fridge corn posted:They're paying me my notice in lieu lmao Congrats. I've been walked out the door with no further pay a few minutes after handing in my notice before. Yay for US labor laws. I fully expected it though. 64bit_Dophins posted:Yeah I thought I fixed the misfire issue I was having with the car. I replaced the plugs and wires to get it to pass emissions and the misfire codes went away but they just came back and it has me concerned. Isn't it a 6th gen (98-02) V6? If so, possibly a bad coil? If you can ever get the code out of it, find the coil for that cylinder, and swap it with the coil from another cylinder. See if the code follows the coil. If I'm wrong on the year, let me know, but yeah the CEL will only flash if there's a severe misfire. Hopefully it's a bad coil or bad connection to a coil.
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Oct 16, 2018 07:59
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CAT INTERCEPTOR posted:Yes I'd happily buy another house one day but I'm not going to buy one under the delusion it's an asset. I'm paying less per month on the mortgage for my condo and the association's fixed fee, than I would have to pay in rent for a similar apartment. And the mortgage goes to my own pocket when I eventually sell. Will I make a profit? Probably not much, but I'll be ahead compared to if I paid the same amount in rent.
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Oct 16, 2018 08:36
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Goober Peas posted:I moved this spring and got 30% over asking in a 5 way bidding war. Demand for starter homes is insane right now, driven by a lack of any being built for the last 30 years. Also by lack of anyone being able to 'upgrade' out of them. I'm shopping for one now myself, and the market's nuts.
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Oct 16, 2018 08:37
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STR posted:Isn't it a 6th gen (98-02) V6? If so, run away screaming. Fixed. I loved the look and feel of my sixth gen V6 accord but holy moses did that engine/transmission package ever have defects. Eats relays, engine has heat soak issues causing vapour lock inside the fuel rail, transmissions become one-shot internal combustion engines if you blink at them too hard... e: Actually thinking about it this sounds like the heat soak problem. I've heard some people have fixed it by swapping fuel rails in from the J-series V6 out of a Honda Odyssey from the same era. Kazinsal fucked around with this message at 10:03 on Oct 16, 2018 |
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Oct 16, 2018 09:56
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Back in work after my stag do and seriously regretting not booking today off. Managed to avoid any incidents across the weekend despite combining axe throwing with an Auchentoshan distillery tour and a Drygate brewery tour.
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Oct 16, 2018 11:57
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ilkhan posted:An asset is something you own. Regardless of being able to sell at a profit or a loss, it's still owned by you and thus an asset. Well to be fair, if you have a mortgage on a house you don't technically own it.
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Oct 16, 2018 12:42
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KozmoNaut posted:I'm paying less per month on the mortgage for my condo and the association's fixed fee, than I would have to pay in rent for a similar apartment.
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Oct 16, 2018 12:48
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Applebees Appetizer posted:Well to be fair, if you have a mortgage on a house you don't technically own it. You have equity though, which is an asset.
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Oct 16, 2018 12:57
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InitialDave posted:Maybe it's a location thing. I've noticed people in other countries often seem to have some very odd-sounding ideas about property ownership. To be perfectly fair, this is the capital region, where apartments are expensive. So is a mortgage, but interest rates are favorable right now. My interest rate right now is literally -0.15%. Granted there are some fees on top, so it doesn't actually end up negative, but it's a thing to consider.
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Oct 16, 2018 14:09
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They're paying you to take their money? That's not normal, that's insane. Even when the cash rate here was ~1.25%, mortgages were at minimum 3% (for a very short time only). Every 3 months or so when the fed reviewed the rate, if they kept it steady banks would increase the rate by 0.1-0.25% just because, and if the fed increased the rate by 0.25%, the banks would increase their rate by 0.3-0.5% E: when I had a house the official rate was 5.25% but banks charged 6-7% so I was paying 700+/wk Fo3 fucked around with this message at 14:17 on Oct 16, 2018 |
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Oct 16, 2018 14:12
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THEY ACCEPTED OUR OFFER
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Oct 16, 2018 14:16
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Rhyno posted:THEY ACCEPTED OUR OFFER 1) wife 2) mortgage 3) 'sensible' car
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Oct 16, 2018 14:24
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Goober Peas posted:I moved this spring and got 30% over asking in a 5 way bidding war. Demand for starter homes is insane right now, driven by a lack of any being built for the last 30 years. This is very true, I was casually looking at houses a few weeks ago and decided...to keep on waiting. Especially since it'd just be me living there. Does this seem like a $180k house? Apparently so, zillow says someone put in an offer on it! https://www.zillow.com/homedetails/67-Locust-Park-Albany-NY-12205/29679008_zpid/
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Oct 16, 2018 14:26
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spog posted:1) wife That is on the agenda. I just have to decide if I'm keeping the other cars. We only have parking for 10.
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Oct 16, 2018 14:29
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Rhyno posted:THEY ACCEPTED OUR OFFER Great! Now put the screws to them during the home inspection process! redgubbinz posted:Does this seem like a $180k house? Depends on location. If that was in my area at $180k, I'd buy it in an instant as an income property.
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Oct 16, 2018 14:36
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Rhyno posted:THEY ACCEPTED OUR OFFER 
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Oct 16, 2018 15:05
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Rhyno posted:THEY ACCEPTED OUR OFFER Grats. Remember that nothing really matters at this point and nothing is binding. If you find anything you don't like at the inspection, you can still walk away. Find a good inspector and if he sees anything he's not sure about (they aren't experts in everything, so he won't know HVAC intimately, etc) then get another specialized professional in there just in case. This is where it's worth it up front to just pay the money and not get bent over later.
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Oct 16, 2018 15:07
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Rhyno posted:THEY ACCEPTED OUR OFFER Congratulations! Suburban Dad posted:Grats. Remember that nothing really matters at this point and nothing is binding. If you find anything you don't like at the inspection, you can still walk away. Find a good inspector and if he sees anything he's not sure about (they aren't experts in everything, so he won't know HVAC intimately, etc) then get another specialized professional in there just in case. This is where it's worth it up front to just pay the money and not get bent over later. And definitely this.
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Oct 16, 2018 15:17
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Having a wife in the industry is definitely helping. We have a huge crowd of resources her company has used and trusts. It's barely sunk in, I'm probably gonna freak out.
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Oct 16, 2018 15:30
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Rhyno posted:It's barely sunk in, I'm probably gonna freak out. I think every new homeowner goes through a "OK - its not too late to burn it to the ground and collect the insurance money, right?" crisis somewhere between signing and the one-year mark.
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Oct 16, 2018 15:38
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I'm just floored by what this year has brought me. Wife, great job, new home.
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Oct 16, 2018 15:42
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Rhyno posted:I'm just floored by what this year has brought me. Wife, great job, new home. You'll be having sex next.
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Oct 16, 2018 15:46
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spog posted:You'll be having sex next. On the floor even!
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Oct 16, 2018 15:49
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You need a moving van? How bout this sweet thing I just saw, which is apparently a real thing and not some homemade combo of a dually truck and a van like I first thought.
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Oct 16, 2018 15:49
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Rhyno posted:On the floor even! Lol Congrats dude, welcome to the full time job of home ownership! 
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Oct 16, 2018 16:09
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ilkhan posted:Houses are assets. Assets (houses) = liabilities (mortgages) + owners equity (spread between the two).
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Oct 16, 2018 16:13
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Modus Man posted:You need a moving van? How bout this sweet thing I just saw, which is apparently a real thing and not some homemade combo of a dually truck and a van like I first thought. +Quigley 4x4 and some build out and you don't even need a house, you can just travel the world. Go wherever you want and bring your house with you. Like a... snail? or a turtle? Which is good because it'll probably run you the price of a house. KozmoNaut posted:I'm paying less per month on the mortgage for my condo and the association's fixed fee, than I would have to pay in rent for a similar apartment. And the first 500k of appreciation on your house is tax free and interest on your mortgage is tax deductible. There's a lot that the government has done to encourage home ownership. CAT INTERCEPTOR posted:I'm not going to buy one under the delusion it's an asset. I feel like you're kind of overreacting here, generally, but there's one thing you said that I agree with which is above. Although a house is actually an asset (with associated liabilities, sure), the idea that you should buy a house as a form of investment is not a particularly good one. I think you should buy a house when you want to own a house and the house you want to own is available for a price you're willing to pay. And then you should live there. And that's it. Get some appreciation? That's nice! But it shouldn't be the reason you buy a house. So we definitely agree on that. I think you're also mixing up the Australian and US housing markets. I personally think the US market is maybe a little overpriced, but we're just not at all in line for the same kind of crash we had in '08 for many reasons. Vs. Australia which, uh, yeah... don't buy a house in Australia right now.
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Oct 16, 2018 16:13
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