Car to house value ratio

[killramos]

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True

I do appreciate the most sincere flattery

[The_Rural_Juror]

^--- biggest fan. this guy.

[ExtraSlow]

[Disoblige]

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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?

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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.

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Yeah, isn't that basically the average price of a house in Calgary?

I was referring to this really. $500k houses is just an average house these days. What's wrong with a $10k car? A used Honda that's 10 years old might be only worth $10k or less and there's nothing wrong with that.

You buy a shitty cookie cutter downtown condo for $400-500k (new) easy.

[Nakadah]

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I was referring to this really. $500k houses is just an average house these days. What's wrong with a $10k car? A used Honda that's 10 years old might be only worth $10k or less and there's nothing wrong with that.

You buy a shitty cookie cutter downtown condo for $400-500k (new) easy.

Thank you for the well written and elaborate explanation how what is at the moment normal is a reflection of how an individual/family is having a balanced life and more importantly, within their means! You made it possible for me to understand how this norm is an OK normal and where I was wrong!

[Disoblige]

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Thank you for the well written and elaborate explanation how what is at the moment normal is a reflection of how an individual/family is having a balanced life and more importantly, within their means! You made it possible for me to understand how this norm is an OK normal and where I was wrong!

You're welcome, weirdo.

If you want a truly elaborate explanation, ask Mitsu3000gt.

[killramos]

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You're welcome, weirdo.

If you want a truly elaborate explanation, ask Mitsu3000gt.

[Nakadah]

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You're welcome, weirdo.

If you want a truly elaborate explanation, ask Mitsu3000gt.

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.

[killramos]

TIL that I should be driving way more expansive cars relative to the value of my home.

What time is the ‘Rarri dealer open until?

I need to get out there and rebalance my life.

[vengie]

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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.

Hell my car is worth 0.7% of my most expensive thing.
Apparently I'm not balanced and my life must be chaos!

Why? because it takes me from A-B and is cheap as hell to maintain, nor do I care what people think of me when they see me driving it.
I have certain goals and targets to achieve before I start to play again.

[Buster]

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TIL that I should be driving way more expansive cars relative to the value of my home.

What time is the ‘Rarri dealer open until?

I need to get out there and rebalance my life.

More than you can afford, pal.

[ExtraSlow]

I am out of rep to give out, but most people in this thread deserve some.

[The_Rural_Juror]

I wish I had more reps to give too. 2 reps is too little with the rampant thread derails.

[ExtraSlow]

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I wish I had more reps to give too. 2 reps is too little with the rampant thread derails.

Your rep power is weak.

[ThePenIsMightier]

Based on a simple method to keep complete idiots out of rampant debt, we shouldn't be spending more than 35% of our net monthly income on housing and 15% on transportation...

BRB, I gotta move into a house 2.5x more $ and pick up a massive car loan. I would've thought four cars was enough, but book says.
As for savings, I am failings. #HookersAndBlow

[Team_Mclaren]

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

[Buster]

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

Yes, yes you are

[ExtraSlow]

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

[ThePenIsMightier]

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

Ok, but it's supposed to be about monthly payments and how much of your net income you're spurting all over those shower tiles.
I think it's supposed to include gas and insurance, etc, too... Le disappoint

[ExtraSlow]

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