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Old 05-24-2015, 01:03 PM
 
Location: SF Bay & Diamond Head
1,779 posts, read 1,419,169 times
Reputation: 1971

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Quote:
Originally Posted by ncole1 View Post
I already did. It's not my fault if you can't understand algebra and substitute numbers in for letters.
Again NO! You lost credibility with (Y-Z)%.
Figures don't lie but liars figger!

AND you keep ignoring that X is FIXED.
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Old 05-24-2015, 01:23 PM
 
Location: SF Bay & Diamond Head
1,779 posts, read 1,419,169 times
Reputation: 1971
Quote:
Originally Posted by mathjak107 View Post
right now we are on the fence about buying a co-op for cash. if i buy our cost of housing will fall by 6k a year from renting . but i will give up 12k a year on the income we are no longer getting on what we tie up.



If ONLY there was a way to buy the co-op and KEEP the money that is earning $12,000 a year. If only................
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Old 05-24-2015, 01:28 PM
 
71,568 posts, read 71,730,589 times
Reputation: 49168
well there isn't because i am retiring and at this point i no longer am the aggressive investor i once was . i don't have to be at this stage so taking a mortgage and putting the carrot back on the stick to try to beat it is not something in the cards. those days are done.

there is no reason to keep chasing return at this stage .
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Old 05-24-2015, 01:31 PM
 
Location: SF Bay & Diamond Head
1,779 posts, read 1,419,169 times
Reputation: 1971
Quote:
Originally Posted by mathjak107 View Post
well there isn't because i am retiring and at this point i no longer am the aggressive investor i once was . i don't have to be at this stage so taking a mortgage and putting the carrot back on a stick to try to beat it is not something in the cards. those days are done.
Hey, you are the one worried over losing $12,000 a year vs. having an inflation protected asset.
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Old 05-24-2015, 01:33 PM
 
71,568 posts, read 71,730,589 times
Reputation: 49168
well i still don't want to spend more for housing than i need to . in the long run buying will likely end up the better deal . in the short run not likely. but if we do no mortgage, all cash deal..

i am not interested in having to sell off investments possibly at a loss to pay a mortgage i didn't need when markets cycle down as they always do.

I have all the dough i want in volatile assets at this point.

Last edited by mathjak107; 05-24-2015 at 01:48 PM..
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Old 05-24-2015, 02:14 PM
 
2,630 posts, read 1,935,832 times
Reputation: 4597
Quote:
Originally Posted by Emigrations View Post
I just turned 29 and am looking at buying my first home over the next year. I work in Indianapolis but don't want to live in the inner city. I'm looking at reasonably priced condos and small SFHs in the better parts of the city and suburbs and am finding quite a bit I can afford, but I can go to small towns outside of Indy and probably save considerable amounts of money. I'm currently renting a 2BR and with rent, water/sewer, and electric, I'm up to $1,000/month. It's a decently kept but very dated apartment, and it's money down the drain. There are smokers/animals beside me and I want neither, and I want something on one level, with a basement possibly for optional use. There is a possibility of me getting married but can't foresee any kids.

I have been thinking of buying with a small mortgage ($50k-$110k or so) and trying to pay it off as fast as possible (hopefully by 40-45). This would give me the ability to be completely debt free for ten to twenty years prior to retirement, and to contribute a considerable amount.

Did you pay off a mortgage early and find it helpful or that the money was better allocated elsewhere? Even if it was better allocated elsewhere, did you find the peace of mind of being debt free worth it?

Paid off my last mortgage at 41, went cash only afterwards. In other words, once I aggressively began saving for retirement (which occurred at 54, it turned out) I wanted no debt in the way. I found out how much interest (even low interest) can take from your wallet. Changed my mind - tax deduction, or no tax deduction - especially important for people your age. Are you aware that people paid way over 50% gross income in taxes not too terribly long ago? Keep that in mind. I see those days coming back.

Yes. Stay away from central Indy. It's going the way of Chicago, much as it has in the past (horrible dump - then very nice - then back to a dump). Look at far south, far northeast communities, even Lebanon was OK last time I looked.
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Old 05-24-2015, 02:18 PM
 
12,705 posts, read 9,972,676 times
Reputation: 9515
Quote:
Originally Posted by honobob View Post
Again NO! You lost credibility with (Y-Z)%.
Figures don't lie but liars figger!

AND you keep ignoring that X is FIXED.
No, I am not ignoring that X is fixed. Nowhere in my calculation did I say, assume, or imply, that it changed or changes with time.

Straw man all you like, but inflation is still irrelevant.
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Old 05-24-2015, 02:25 PM
 
Location: SF Bay & Diamond Head
1,779 posts, read 1,419,169 times
Reputation: 1971
Quote:
Originally Posted by ncole1 View Post
No, I am not ignoring that X is fixed. Nowhere in my calculation did I say, assume, or imply, that it changed or changes with time.

Straw man all you like, but inflation is still irrelevant.
HOW? You make a statement AND refuse to properly explain it. AND you are changing X, the fixed mortgage by subtracting Z (which you are making up) from it!

Name call all you like but you have failed to support your argument!
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Old 05-24-2015, 02:31 PM
 
12,705 posts, read 9,972,676 times
Reputation: 9515
Quote:
Originally Posted by honobob View Post
HOW? You make a statement AND refuse to properly explain it. AND you are changing X, the fixed mortgage by subtracting Z (which you are making up) from it!
Do you know what a real interest rate is? Yes or no. (Do not Google it before responding!)
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Old 05-24-2015, 02:36 PM
 
Location: SF Bay & Diamond Head
1,779 posts, read 1,419,169 times
Reputation: 1971
Why don't YOU tell me what YOU think a REAL interest rate is so I don't have to deal with never ending convoluted back tracking.
Answer in riddles you always do why?
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