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Thread: Car to house value ratio

  1. #1
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    Default Car to house value ratio

    It kind of sounds like you are jealous of the guy for having a Huracan when you have a 7 figure house. If you can afford a 7 figure house there is no reason why you cannot afford a Huracan in the garage.

    From time to time I go on long walks around different communities in the city and as I walk past the houses I look at the condition of the house as well as the cars parked in front. What I notice is that there are a fair bit of $5k - $10k cars parked in front of so many houses. Houses which the "owners" are emotionally invested in believing that they are worth 1/2 million and more. If that were the case, how come their second most expensive possession is 1/100 of the price of their most expensive possession? I try to place myself in the mentality of the homeowner and better understand their mentality, but I have been unsuccessful...

    Anyways... Your core competencies are in being a lawyer and more specifically in whatever branch of law you have specialized. You don't have enough transferable skills/knowledge to be successful at operating a dealership. You are passionate about cars and your motivation to open a dealership is so that you have at your disposable a fleet of interesting cars. This does not sound like a good reason to open a dealership. You might be better off focusing your resources on furthering your law career. In time when you are financially better of you can assemble your own fleet of cars.
    Last edited by Nakadah; 08-27-2020 at 10:55 PM.

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    Depends how 7 figures of a house it is. Low 7 figures can't afford a Huracan.

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    Quote Originally Posted by Nakadah View Post
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    From time to time I go on long walks around different communities in the city and as I walk past the houses I look at the condition of the house as well as the cars parked in front. What I notice is that there are a fair bit of $5k - $10k cars parked in front of so many houses. Houses which the "owners" are emotionally invested in believing that they are worth 1/2 million and more. If that were the case, how come their second most expensive possession is 1/100 of the price of their most expensive possession? I try to place myself in the mentality of the homeowner and better understand their mentality, but I have been unsuccessful...
    Funny, I always like to try and "figure out" the type of people in some houses in the neighborhood. There is the extreme you mention, but also the other where the house isn't much and there are really nice cars outside. There is a house I know of that for about 2 years had a RS7 and new GTR parked in the driveway year round, including winter (never inside the garage, always outside even in snow). I always wondered why you would buy such nice cars just to have outside.

    Then my son helped clear things up saying that apparently the kids that live there were drug dealers. Parents owned the house and their Ford Flex and some other regular car were always parked in the garage. lol

    For the OP this sounds like fun, but a ton of work. I agree with a few comments that this might be better as a retirement hobby thing when the time comes. That Oraizen looks cool. Oddly enough I was about 5 businesses south of that on Saturday and didn't even notice it as I drove by.

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    Plenty of $75,000 vehicles parked in front of $250,000 townhomes too. Don't think that makes any sense. In the end,value of house and value of car are really hard to make any kind of ratio-based rules that apply to everyone.
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    I don't really get it. What is wrong with seeing a $10k car with a $500k home? That's pretty standard. Just means that person or family is living within their means and don't need to buy the latest and greatest if their $10k car works...

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    Quote Originally Posted by ExtraSlow View Post
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    Plenty of $75,000 vehicles parked in front of $250,000 townhomes too. Don't think that makes any sense. In the end,value of house and value of car are really hard to make any kind of ratio-based rules that apply to everyone.
    The land of never never plans.... 96 month $0 down auto-loans and 5% down Mortgages.
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    Quote Originally Posted by ExtraSlow View Post
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    Plenty of $75,000 vehicles parked in front of $250,000 townhomes too. Don't think that makes any sense. In the end,value of house and value of car are really hard to make any kind of ratio-based rules that apply to everyone.
    This, I dont think there's a co-relation. Everyone values something different. I dont know why people assumes someones in the deep when they drive a car valued @ over $x. Some just sounds bitter or jelly?!

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    Yea people are just judgemental bastards as a general statement.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
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    fact.
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    guessing who I might be, psychologizing me with your non existent degree.

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    Quote Originally Posted by Disoblige View Post
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    I don't really get it. What is wrong with seeing a $10k car with a $500k home? That's pretty standard. Just means that person or family is living within their means and don't need to buy the latest and greatest if their $10k car works...
    It seems to be pretty normal and I would like to understand why. Can you please walk me through how this means that the individual/family is living within their means? What % of your net worth should your home represent? What % of your income should go to cover expenses associated with the home?

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    Quote Originally Posted by Nakadah View Post
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    It seems to be pretty normal and I would like to understand why. Can you please walk me through how this means that the individual/family is living within their means? What % of your net worth should your home represent? What % of your income should go to cover expenses associated with the home?
    Different answer for everyone, and completely depends on your goals/ timelines.

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    A good friend of mine have owned brand new Benz, BMWs for the past 5~6 years while he rented an $1000/month apartment with roommates. He is actually doing way better than most of his friend with 500k house this downturn lol

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    10k car outside of a 500k home could mean that they have different priorities such as hookers and blow. Who are we to judge?

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    Quote Originally Posted by The_Rural_Juror View Post
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    10k car outside of a 500k home could mean that they have different priorities such as hookers and blow. Who are we to judge?
    Exactly lol
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    Is a 500k house the new litmus test for being rich?

    No way that gets you into the Aspen-coe Club.
    Originally posted by Thales of Miletus

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    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    Are you guys all students or something?
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Quote Originally Posted by killramos View Post
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    Is a 500k house the new litmus test for being rich?

    No way that gets you into the Aspen-coe Club.
    Yeah, isn't that basically the average price of a house in Calgary?

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    I mean we are in a recession. Maybe 500k is ballin out of control these days.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    Quote Originally Posted by killramos View Post
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    I mean we are in a recession. Maybe 500k is ballin out of control these days.
    Maybe all our homes are worth no more than $500k now?
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Quote Originally Posted by ExtraSlow View Post
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    Maybe all our homes are worth no more than $500k now?
    They never were lol
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    True

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