# Housing. It's an expense. **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [December 14, 2009, 7:57am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218 "2009-12-14T07:57:06Z")\ **Posts on this page:** 20\ **Page:** 5
**Author:** ![Willybeen](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/willybeen/32/7351_2.png) [@Willybeen](https://forums.speedlife.net/u/Willybeen)\ **Post date:** [December 15, 2009, 8:29am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/81 "2009-12-15T08:29:27Z")
^not when you can walk away and hedge your bets :bloated: atleast thats what 90% of florida foreclosures are… people have zero responsibility here. (I agree with you 100% though) ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 15, 2009, 8:32am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/82 "2009-12-15T08:32:34Z")
Because of the sympathy. I saw an old jewish lady whining on TV because she lost her home. Later in the interview we learned she had several investments in Florida real estate.:bloated: It is not like she was out on the streets homeless. ---
**Author:** ![ProgRocker](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/progrocker/32/5434_2.png) [@ProgRocker](https://forums.speedlife.net/u/ProgRocker)\ **Post date:** [December 15, 2009, 8:54am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/83 "2009-12-15T08:54:17Z")
I am planning on doing a foreclosed purchase. That way I can make a bit of money (hopefully) when I sell it and I can give it a nice look while I’m living there. I’d rather rip up shitty carpet and floors then tear up perfectly good flooring because the color sucks. ---
**Author:** ![Locutus](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/locutus/32/7574_2.png) [@Locutus](https://forums.speedlife.net/u/Locutus)\ **Post date:** [December 15, 2009, 8:59am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/84 "2009-12-15T08:59:46Z")
but just like any investment, if you pull out too early you loose money… A house should be a long term investment. ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [December 15, 2009, 9:02am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/85 "2009-12-15T09:02:08Z")
> [@Locutus](#): > > but just like any investment, if you pull out too early you loose money… Unless you’re investing in unprotected sex. Then it’s the opposite. ---
**Author:** ![ProgRocker](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/progrocker/32/5434_2.png) [@ProgRocker](https://forums.speedlife.net/u/ProgRocker)\ **Post date:** [December 15, 2009, 9:03am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/86 "2009-12-15T09:03:40Z")
> [@Locutus](#): > > but just like any investment, if you pull out too early you loose money… A house should be a long term investment. True, I’d plan on working on it over a 10 or so year period. ---
**Author:** ![evane](https://avatars.discourse-cdn.com/v4/letter/e/6bbea6/32.png) [@evane](https://forums.speedlife.net/u/evane)\ **Post date:** [December 21, 2009, 1:12pm UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/87 "2009-12-21T13:12:40Z")
I can see it from both sides, I bought my house for 86,500 3 years ago and had a note of 91,960 with seller concession. I just sold for 102,000 after all is said and done I have a net profit of about 4k or so going into my new home. Which is nice for only being in it for 3 years but when you factor out some of the stuff we have done, it is about break even. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 21, 2009, 1:16pm UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/88 "2009-12-21T13:16:58Z")
^In the worst market since the Great Depression. How much rent would you have paid in those three years too. ---
**Author:** ![JustinH](https://avatars.discourse-cdn.com/v4/letter/j/9fc29f/32.png) [@JustinH](https://forums.speedlife.net/u/JustinH)\ **Post date:** [December 21, 2009, 2:28pm UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/89 "2009-12-21T14:28:12Z")
It seems like rents here are going up, and some house prices are going down. Places like Phoenix, or Vegas have some smoking deals right now. A buddy of mine just bought a 4 year old house in Vegas for 115k. The thing sold for 290k a few years ago. He went through it, changed all the carpet, did some bathroom work, and has a hell of a deal. Its a 4 bedroom house, and he got a room mate to move in with him. ---
**Author:** ![n20junkie](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/n20junkie/32/7396_2.png) [@n20junkie](https://forums.speedlife.net/u/n20junkie)\ **Post date:** [December 21, 2009, 9:27pm UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/90 "2009-12-21T21:27:05Z")
I close on my house on Wed. 1,200 sq foot ranch, 3 bedroom, 2 acre lot (80x1000) nice sized attached garage, and a huge yard to put another large structure. For a grand total of $803 a month with everything but utilities. Not a bad price when compared to rent for a similar property. Expense yes, but better than tossing money away to never get back. If owning propery was such a loss, people wouldn’t buy property to create income. But somehow they do, and make money. Goes to prove that your rent isn’t all that well spent if a landlord can make money above his expenses. ---
**Author:** ![dubbin91](https://avatars.discourse-cdn.com/v4/letter/d/ecccb3/32.png) [@dubbin91](https://forums.speedlife.net/u/dubbin91)\ **Post date:** [December 22, 2009, 6:22am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/91 "2009-12-22T06:22:14Z")
> [@Willybeen](#): > > lol at fry. > > also deebo, research estate tax issues… and see how life insurance can prove to be invaluable, something that NO other investment can do… You are talking about having life insurance to cover your debts if you pass, compared to annuities correct? ---
**Author:** ![Willybeen](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/willybeen/32/7351_2.png) [@Willybeen](https://forums.speedlife.net/u/Willybeen)\ **Post date:** [December 22, 2009, 6:29am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/92 "2009-12-22T06:29:45Z")
^no… im talking about leaving a legacy to ones family. NO comparison really… I’m more or less talking about when someone has an estate tax issue… lets say i have the following a 5 million dollar home on the water a 2 million dollar IRA a brokerage account worth 5 million Total = 12 million… after i die, realistically only 7 million will pass to my heirs (after its taxed… and that doesnt include lawyer fees and other misc. costs from probate) now how could i preserve my 12 million net worth…??? Life insurance. There have been billionaires that have died before they expected and only left less than a 1/2 a million to their heirs… All of which could have been taken care of barring they were insurable. (or if they had a quality estate plan) When you speak of annuities vs life insurance what are you eluding to? PS. The housing market here sounds like vegas’s housing market… :lol: ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 22, 2009, 6:51am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/93 "2009-12-22T06:51:40Z")
^I hear you on estate taxes but how the hell could a billionaire leave only 1/2 million? Scary. Taxes aren’t 99%. :gotme: I am not doubting you, I am just wondering how. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 22, 2009, 6:55am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/94 "2009-12-22T06:55:53Z")
> [@Blue Eyed Devil](#): > > Taxes aren’t 99%. :gotme: Yet. :awdrifter: ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [December 22, 2009, 6:57am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/95 "2009-12-22T06:57:01Z")
Ugh. Don’t even joke. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [December 22, 2009, 7:04am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/96 "2009-12-22T07:04:29Z")
I’m dead serious. And don’t call me Shirley. ---
**Author:** ![LUKE\_L](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/luke_l/32/7462_2.png) [@LUKE\_L](https://forums.speedlife.net/u/LUKE_L)\ **Post date:** [December 22, 2009, 7:10am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/97 "2009-12-22T07:10:21Z")
Is housing an investment, Yes. Is housing an expense, Yes. > [@Dictionary](#): > > Investment - the act of investing; laying out money or capital in an enterprise with the expectation of profit. I expect to have a “Profit” by having a quality of life unparralleled from renting. Piece of mind of and being in charge of something should be looked at with great pride and self satisfaction. The greatest feeling in the world is sitting around you house with your choice beverage and saying “This is all mine…” > [@Dictionary](#): > > Expense - amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures) Everything cost money. I really enjoy everyones view on here. I personally feel if I don’t make money it is still an investment for security, reliability, and a place that is mine to do what I want when I want. Please continue…this is very interesting. ---
**Author:** ![drvnkd](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/drvnkd/32/109615_2.png) [@drvnkd](https://forums.speedlife.net/u/drvnkd)\ **Post date:** [December 22, 2009, 7:25am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/98 "2009-12-22T07:25:26Z")
> [@Fry](#): > > I’m dead serious. And don’t call me Shirley. Joey, do you like movies about gladiators? I can’t afford not to live in my house. There is no way I could rent a similar place for less than 2x my mortgage/taxes. ---
**Author:** ![dubbin91](https://avatars.discourse-cdn.com/v4/letter/d/ecccb3/32.png) [@dubbin91](https://forums.speedlife.net/u/dubbin91)\ **Post date:** [December 22, 2009, 7:29am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/99 "2009-12-22T07:29:06Z")
> [@Willybeen](#): > > ^no… im talking about leaving a legacy to ones family. > > NO comparison really… I’m more or less talking about when someone has an estate tax issue… lets say i have the following > > a 5 million dollar home on the water > a 2 million dollar IRA > a brokerage account worth 5 million > > Total = 12 million… after i die, realistically only 7 million will pass to my heirs (after its taxed… and that doesnt include lawyer fees and other misc. costs from probate) now how could i preserve my 12 million net worth…??? > > Life insurance. There have been billionaires that have died before they expected and only left less than a 1/2 a million to their heirs… All of which could have been taken care of barring they were insurable. (or if they had a quality estate plan) > > When you speak of annuities vs life insurance what are you eluding to? > > PS. The housing market here sounds like vegas’s housing market… :lol: That is what I thought you meant by that! Sorry, early morning confusion on my end. Brain wasn’t working between life insurance vs death benefit annuities ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [December 22, 2009, 7:34am UTC](https://forums.speedlife.net/t/housing-its-an-expense/77218/100 "2009-12-22T07:34:57Z")
> [@walter](#): > > no, no you don’t. yeah, yeah you do. majority of mortgages will see you pay the original price of the home in interest alone by the time you’re done. then you have all the running costs. the people who make money in real estate generate enough cash flow to cover the interest and part or all of the principle payments… they dont live in the house for 25 years and then sell it. or they make money somewhere else and invest into commercial or commercial/residential, generate cash flow and / or leverage the equity into more real estate that generates cash flow or other revenue generating assets. if there is no cash flow you are losing money until you sell it… if the sell price doesnt cover every single dollar you invested including interest, running costs, maintenance, taxes and everything else you wouldnt have incurred otherwise… you lost money no matter how good you felt about it. - edit: i used to have a tenant covering 40% of my mortgage payment monthly… it was great… but my wife hated it so we didnt re-list when he left… sucks [Previous page](https://forums.speedlife.net/t/housing-its-an-expense/77218.md?page=4) [Next page](https://forums.speedlife.net/t/housing-its-an-expense/77218.md?page=6)