Car to house value ratio

[The_Rural_Juror]

I am all out of reps, I am so lost without them.
I know you were right believing for so long.

[ThePenIsMightier]

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Oh, I have no monthly payments for vehicles (for another few weeks anyway). Is that wrong?

I think it's wrong. You and me are lost. And, if we're lost, we are lost together.
Wanna go half on a used F12 Berlinetta?

[Disoblige]

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You made a statement that you could not justify when asked to do so. Name calling and leaving negative rep does not change that fact. In my previous comment I inserted "balanced life", something that you did not notice. This is what my original post centered around. Canadians are obsessed with the value of their homes and believe that as the value of their home expands (fueled mostly by debt in part thanks to record low rates) so does their net worth, but one of the results is living a less balanced life. What I mentioned as my observation is a symptom and not a cause - i.e. your second most expensive thing being only 1% the value of your most expensive thing. This idea of a balanced life is where my opinion that OP should have no problem driving a Huracan if he can live in a $1 Mil.+ house comes from.

I did not leave you any negative rep. I don't give people negative rep.

You're on a next level of uptight that is pretty insane. Relax.

And a statement I can't justify? I go walk in a neighborhood where all the houses have a market value of $500k (normal average houses in average communities) and I see many cars owned by different people with different lifestyles and many of them are worth around $10k. Some a bit more, some less. Common sense stuff that most people can observe daily.

[killramos]

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LOL, my vehicles are "worth" half of what my house does... I must be doing it right!

Just need to keep everything in balance

[ThePenIsMightier]

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I did not leave you any negative rep. I don't give people negative rep.

You're on a next level of uptight that is pretty insane. Relax.

And a statement I can't justify? I go walk in a neighborhood where all the houses have a market value of $500k (normal average houses in average communities) and I see many cars owned by different people with different lifestyles and many of them are worth around $10k. Some a bit more, some less. Common sense stuff that most people can observe daily.

I noticed he was complaining about someone else he assumed was you giving him neg Rep and I hadn't been keeping up with this thread. I knew I needed to spread some Rep around, so I decided to neg Rep and that apparently dragged him down to Red bar status!
Now I kind of feel bad even though it was a rather fiery resurrection to crawl up your ass after years of silence.

But, it is the way.

[speedog]

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All three of my vehicles together are worth ~6% of my house.

Less than 1.5% here but then both of our vehicles are over 16 years old, we really haven't felt the need to have fancy or newer vehicles plus I can fix a lot of shit on our older vehicles which I don't mind doing.

[shakalaka]

Oh man - this thread got derailed big time. Been super busy so haven't had a chance to reply but I've read through all the responses. I wanna thank everyone for their input and in fact the ones with actual, constrictive advise/opinion in regards to the topic. Also, for the people that PM'ed, I will get back to you in due course - things have just been a bit hectic with a couple of trials coming up so haven't had a chance.

As a general note though, I definitely agree with the ones that have said it's not something that's going to be easy and straightforward and in fact I do see the point in people saying you can't half-ass something like this and it's either all-in or nothing. This was more so wishful thinking at this point and essentially a small thought in the back of my mind and has been so for several years already. And for all we know will remain the same forever but who knows. In this modern day and age though, I think all will agree that one income stream simply does not cut it for most and I am always keeping my options open in that regard. That's how I get into real estate and land development but as my luck would have it the oil crash and COVID all had to happen before I could actually take-off and do something with it.

And co-relation to the size of houses vs cars - I can't say there is any empirical evidence as such and it's mostly going to be something that's going to vary case by case. Hell there's a house by our area, which I'd say is worth perhaps around 1.2 -1.3 mil mark and I see a R8, F430, Gallardo and a RR parked outside it (thought could be friends/family), another likely worth around 1.5 has a 911 Turbo, AMG GTS, X6M, M3 and a modified RX8. And there are houses that are worth 5-6 mil close by as well and I don't see anything spectacular outside there. Though, with their massive ass driveways, I am sure things could be very different in the garage. I did see a bright green Aventador SV outside one of these a while back. Anyway, more expensive house is just that and not everyone deems it appropriate to drop significant amount of moolah on depreciating assets like cars even if they have the means.

[Buster]

[killramos]

This is a very disappointing split. I got my hopes up for nothing.

[Disoblige]

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All three of my vehicles together are worth ~6% of my house.

Same here.

Back to the original post, if one wants to place themselves in the mentality of a homeowner, they might find more success if they first figure out how to even become a homeowner.

[ThePenIsMightier]

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... I wanna thank everyone for their input and in fact the ones with actual, constrictive advise/opinion in regards to the topic...

Constrictive advise for the win!

[Masked Bandit]

I guess if I were to add up the current market value of the vehicles in the house it would shake out to about 11%? Do I get a cookie now?

[shakalaka]

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Constrictive advise for the win!

Way too many grammar Nazis up in this bitch yo.

[Disoblige]

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I guess if I were to add up the current market value of the vehicles in the house it would shake out to about 11%? Do I get a cookie now?

No, why aren't you buying a lambo? You can obviously afford it if you have a $500k house.

[Masked Bandit]

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No, why aren't you buying a lambo? You can obviously afford it if you have a $500k house.

Why do you assuming I don't have a Lambo?

[pheoxs]

100k$ mustang, 50k$ trailer. Only way to live life.

[Xtrema]

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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?!

This.

Not everyone treat cars the same. Some of my neighbors are fine with 20 year old Maxima. Some are driving R8s and 458s. It's personal. I don't see why people care what other people should and shouldn't do.

[ercchry]

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Why do you assuming I don't have a Lambo?

Pls hurry up and purchase a trackhawk

[FraserB]

Are we using the city assessed value? And are we including things like travel trailers in the calculation?

[98brg2d]

I'm pretty sure cars depreciate far more and far quicker than houses (which generally fluctuate up and down) so it makes sense that any car more than 3 years old is valued at a much lower percentage of house value than a new car. Catch somebody at the point of purchase of a new car and the percentage will be much higher. Most people don't change cars every few years, more like 5 to 10 years, so average age is ~5 years old and average car value is <50% of new.

The average used car price is under $20,000 (https://www.theglobeandmail.com/driv...it-could-cost/) so it makes sense that the average car, parked at the average house ($443,000, see https://www.cbc.ca/news/canada/calga...cmhc-1.5625344) is a small percentage of house value. This isn't rocket science.