t sweeps into thread, hugs Gus, runs away from scary financial talk
I'm going to see to Wesley, see if he's still whimpering.
Giles ,'Chosen'
Natter 34: Freak With No Name
Off-topic discussion. Wanna talk about corsets, duct tape, or physics? This is the place. Detailed discussion of any current-season TV must be whitefonted.
Consuela - Apr 21, 2005 8:37:17 pm PDT #7973 of 10001
We are Buffistas. This isn't our first apocalypse. -- Pix
Maria - Apr 21, 2005 8:40:40 pm PDT #7974 of 10001
Not so nice is that I'm about to ruin a Friday morning for a bunch of people because of a series of unfortunate events and an upset foreign government. - shrift
Gawd, I hate to be a cocksucker, but can we compare 150K against the interest they paid over 30 years?
Assuming no money down and a 7% interest rate, a 30-year fixed had them paying ~$42K in interest. They're still ahead $108K.
beth b - Apr 21, 2005 8:45:05 pm PDT #7975 of 10001
oh joy! Oh Rapture ! I have a brain!
I hate to add to the arguement - but if I remember the (fake)number of the loan my house needs to go up another 230k - if I pay the loan at the way it is set up. over 30 yrs - quite probable.
My parents never lost on a house. even being in the military and being in one house for just over a year.
It is possible to lose in the houseing market. there are bad places to buy and bad times. but if you can sit, it usually pays.
Trudy Booth - Apr 21, 2005 8:47:11 pm PDT #7976 of 10001
Greece's financial crisis threatens to take down all of Western civilization - a civilization they themselves founded. A rather tragic irony - which is something they also invented. - Jon Stewart
t nibbles Gus' ear, driving silly financial chatter from his pwetty bwain
Gus - Apr 21, 2005 8:53:44 pm PDT #7977 of 10001
Bag the crypto. Say what is on your mind.
assuming no money down and a 7% interest rate, a 30-year fixed had them paying ...
All generous assumptions, but not unreasonable. Let us now factor in 1975 dollars against today's dollars. Woops.
I want my 1975 bux back.
Gus - Apr 21, 2005 8:56:18 pm PDT #7978 of 10001
Bag the crypto. Say what is on your mind.
t makes out with Trudy in a way that makes money a dim, distant memory
Maria - Apr 21, 2005 9:15:11 pm PDT #7979 of 10001
Not so nice is that I'm about to ruin a Friday morning for a bunch of people because of a series of unfortunate events and an upset foreign government. - shrift
I want my 1975 bux back.
But it's a hypothetical. Even if a house had never been purchased, you still wouldn't have your 1975 dollars back.
Don't forget they were paying down the 1975 value of the house. The amount of their mortgage didn't increase with the cost of living, so their $200/month payment--which in 2005 terms would equal $713--is still far less than it would cost to rent a house of comparable size.
If they had saved that $200/month, starting in 1975, they would have $98,500 today (assuming a standard savings account at 2% interest). Less than the $108K they've made on the house.
beth b - Apr 21, 2005 9:22:52 pm PDT #7980 of 10001
oh joy! Oh Rapture ! I have a brain!
and of course they couldn't have saved that 200.... or not all of it because you have to live somewhere...
Maria - Apr 21, 2005 9:29:07 pm PDT #7981 of 10001
Not so nice is that I'm about to ruin a Friday morning for a bunch of people because of a series of unfortunate events and an upset foreign government. - shrift
beth, i do so love your spicy brains!
Gus - Apr 21, 2005 9:30:12 pm PDT #7982 of 10001
Bag the crypto. Say what is on your mind.
OK, I'm going 2400 x 30 and making 720 K in 1975 bux. Let us give a slope to the numbers behind inflation that comes out and $135 K.
Wait, I'll stop there. Maybe you don't like my numbers.