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Old 09-30-2010, 07:54 PM
 
12,671 posts, read 23,797,747 times
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Quote:
Originally Posted by cheryjohns View Post
How much does WHAT cost? Are you trying to buy Sotheby's?

And EA is right - no one making $60K a year could save up that large of a down payment - and taxes and insurance would be more than that salary per year.
Those antique toys.

For Someone who has been saving 50% his/her income making $60K a year for 20 years is possible.
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Old 09-30-2010, 07:55 PM
 
Location: Houston, Texas
1,668 posts, read 4,705,289 times
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Quote:
Originally Posted by Texas User View Post
Lol, I don't think thats a smart move since I am a frugal.
OMG! You got it! You got it! It would definately be unfrugal to buy ocean front property in Arizona! I heart you TX User!
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Old 09-30-2010, 07:57 PM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,484,606 times
Reputation: 4741
sigh. It's even hard for those earning 250k a year with a non-mortgaged house to afford a million dollar spread and all the tags that ride with it............Unless you are single and live off tuna ......but then what's the point?

Rule of 72...cute. Luck. Pretty much the only thing that is a sure winner.
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Old 09-30-2010, 07:58 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,190,508 times
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Quote:
Originally Posted by Texas User View Post
Those antique toys.

For Someone who has been saving 50% his/her income making $60K a year for 20 years is possible.
Why would anyone save and scrimp for 20 years, so they could put down a huge downpayment - and then lose it when they get foreclosed on due to unpaid taxes, which they can't afford on $60K a year? That makes absolutely no sense whatsoever. Again, the taxes and insurance are going to be way over the annual salary.

As to the antiques, different amounts. That's like expecting all art by all artists to be the same amount.
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Old 09-30-2010, 08:05 PM
 
Location: #
9,598 posts, read 16,559,699 times
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I have a couple of antique balls that are worth quite a bit as they were signed by Ty Cobb and Honus Wagner. In a few decades, I will have a couple of more antique balls. Unfortunately, they won't be worth a dime.

In any event, these balls will not afford me the opportunity to buy a 2 million dollar house on my meager income. What a shame.
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Old 09-30-2010, 08:10 PM
 
12,671 posts, read 23,797,747 times
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Quote:
Originally Posted by EasilyAmused View Post
sigh. It's even hard for those earning 250k a year with a non-mortgaged house to afford a million dollar spread and all the tags that ride with it............Unless you are single and live off tuna ......but then what's the point?

Rule of 72...cute. Luck. Pretty much the only thing that is a sure winner.
I love Tuna Fish.

Unless you are good at timing the market.
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Old 09-30-2010, 08:11 PM
 
12,671 posts, read 23,797,747 times
Reputation: 2666
Quote:
Originally Posted by cheryjohns View Post
Why would anyone save and scrimp for 20 years, so they could put down a huge downpayment - and then lose it when they get foreclosed on due to unpaid taxes, which they can't afford on $60K a year? That makes absolutely no sense whatsoever. Again, the taxes and insurance are going to be way over the annual salary.

As to the antiques, different amounts. That's like expecting all art by all artists to be the same amount.
There are people who love to save. Its better to put as much down as possible. Why pay the interest? Yea, I over exaggerated.
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Old 09-30-2010, 08:12 PM
 
Location: Houston, Texas
1,668 posts, read 4,705,289 times
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Those sound like nice old balls, try selling them on EBay. Then YOU can belong to the Houston Millionaire's Club!
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Old 09-30-2010, 08:17 PM
 
Location: #
9,598 posts, read 16,559,699 times
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Quote:
Originally Posted by LizzySWW View Post
Those sound like nice old balls, try selling them on EBay. Then YOU can belong to the Houston Millionaire's Club!
I'd have to be nuts to sell those things on ebay.
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Old 09-30-2010, 08:24 PM
 
Location: Houston, Texas
1,668 posts, read 4,705,289 times
Reputation: 3037
Quote:
Originally Posted by crbcrbrgv View Post
I'd have to be nuts to sell those things on ebay.

Well sometimes you feel like a nut, sometimes you don't.
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