How did you buy your Tesla?

[whitex]

You seem to know a bit about personal finance/money. Would it be possible for you to balance my checkbook?

Sounds like a job offer. How much are you paying?

 

[BerTX]

Its amazing to me how at least half of you guys paid cash.

I last had a loan back in '98. Didn't like it.

 

[Manzacoty]

I have neighbors who bought houses before 2008 crash, they are still under-water renting their homes hoping the market and/or inflation will catch up so they can sell and get out. It turned out that houses fell in 2008, but then again in 2010 after all the foreclosures kicked in from people who just walked away. Some have dropped to under 60% of peak value. I had one neighbor who bought at the peek, both lawyers, one day just packed up and left - bank foreclosed maybe 6-9 months later and sold at ~60% of peak value. Today the market is going up, but still not reaching the peak pre-crash values (still about 75%-80% of the peak prices, and that's >8 years later - at least people who bought after the first drop are even now).

That was exactly my point of financing and taking into account risk. I don't blame anybody for doing it. I just don't have the stomach for it. I'm sure I've lost money because of it but I also may have saved a house or 2 by not doing it. This was just a curiosity pole - not trying to persuade anyone to what is the "right" decision.

 

[Mickie]

I have neighbors who bought houses before 2008 crash, they are still under-water renting their homes hoping the market and/or inflation will catch up so they can sell and get out. It turned out that houses fell in 2008, but then again in 2010 after all the foreclosures kicked in from people who just walked away. Some have dropped to under 60% of peak value. I had one neighbor who bought at the peek, both lawyers, one day just packed up and left - bank foreclosed maybe 6-9 months later and sold at ~60% of peak value. Today the market is going up, but still not reaching the peak pre-crash values (still about 75%-80% of the peak prices, and that's >8 years later - at least people who bought after the first drop are even now).

Word. The days of living in your house getting rich on 15% appreciation are done.

I occasionally check some rentals I had up to the crash, and they're barely at 70% of their pre-burst appraised values.

 

[Max*]

Word. The days of living in your house getting rich on 15% appreciation are done.

I occasionally check some rentals I had up to the crash, and they're barely at 70% of their pre-burst appraised values.

I guess I lucked out, my rental bought early 2007 (just when the bubble started to show signs of bursting) is at 90% pre-crash value.