"People" who own a house (1 Viewer)

[Binky The Doormat]

It's been a long time since I was in business school, but seems like the house is an asset and any associated mortgage debt is a liability

Not sure Tone passed the CPA.  

 

[tone1oc]

C'mon now.  Be man enough to admit defeat... On the test and this stupid "discussion."

I'm not.  Whoever gotta 141 sent you a link to the image it generated.  I'm not stupid, see my IQ score.

 

[Hawks64]

Somebody cheated.

155 BOOM!

http://www.free-iqtest.net/images/badges2/l155.gif

 

[SWC]

i on the other foot am stupid but you know what brohans i am having waaaaaaaaaaaaaaaaay more fun than most of you take that to the bank 

 

[tone1oc]

155 BOOM!

http://www.free-iqtest.net/images/badges2/l155.gif

INFINITY BOOM!

http://www.free-iqtest.net/images/badges2/linfinity.gif

 

[SWC]

155 BOOM!

http://www.free-iqtest.net/images/badges2/l155.gif

INFINITY BOOM!

http://www.free-iqtest.net/images/badges2/linfinity.gif

brohan that right there was a nice try but it only goes to 160 i think but hey you know what mine goes to 11 bam take that to the spinaltap bank where yo can still hear the reverb

 

[Brony]

Wrong.  Your house is a liability. 

Nope.

Just started reading this thread from the beginning, wondering how this would get to 4 pages. Haven't read past this post, but guessing this douchy fish bait will do the trick to get to 6 pages at least 

 

[tone1oc]

Just started reading this thread from the beginning, wondering how this would get to 4 pages. Haven't read past this post, but guessing this douchy fish bait will do the trick to get to 6 pages at least 

This thread is fun, it has it all... it appears I'm wrong for a good 3-4 pages, but then I hit them with the smoking gun.  http://imgur.com/kuPpYUf

 

[Mr. Pickles]

Jerry Rice: Not a Hall of Famer. 

 

[tone1oc]

Be excellent to each other. And please don't whine

I've been called douchy and stupid.. because I called an "asset" a liablity.

My "People" threads are a west side. Let's chill

 

[SWC]

new york pizzza sucks bromigos take that to the big slice hat no taste cattle bank 

 

[tone1oc]

new york pizzza sucks bromigos take that to the big slice hat no taste cattle bank 

This thread is so hot (2nd hottest in FFA) you could cook a deep dish on it, take that to the bank with extra brovolone!

 

[hxperson]

You can say it's shtick but prized economists agree with me.

No they don't.  Saying a house is not a good investment and can be a liability for some is not saying that all houses are liabilities.

 

[Captain Cranks]

I'm not.  Whoever gotta 141 sent you a link to the image it generated.  I'm not stupid, see my IQ score.

You were able to teach people a few things in this thread, so mission accomplished.  Things I've personally learned are:

1.  Tone is not financially savvy and should not be trusted with money.

2.  Tone is not very smart at establishing challenges.

3.  Tone is not a good loser. 

4.  Tone sucks at fantasy football.

5.  SWC is a man among boys.   

 

[KCitons]

Just took the 20 question test here http://www.free-iqtest.net/

Results.. http://i.imgur.com/4sCPMYB.png

Let's go!

I scored 134 and I'm generally regarded as pretty stupid. (especially around these parts) So, you can all quit patting yourselves on the back. 

 

[eoMMan]

I'm assuming you never took an accounting class.

 

[need2know]

People that dont own a home are jealous of people who do.  And yes it's an asset

 

[need2know]

I scored a 130 but didn't really try.  Is that good?

 

[Random]

Can you just give me 5 examples of an "asset"?  TIA

 

[Jake22]

This is meta thread, meant to challenge our (I say that as a collective) ignorance of our homes being assets.   

"Say you and I both have $250,000. I buy a house for $250,000 cash, and you rent a house across the street for $1,000 a month and put $250,000 in the S&P 500. After 20 years, I'll have a house worth $200,000 in real terms, and you'll have a portfolio of stocks worth $330,000 adjusted for inflation (assuming the market's average real rate of return, and a 2% inflation rate on my rent payments). The difference between those two amounts is the opportunity cost of owning a house (and I didn't even include taxes, repairs, or insurance). In reality, it's hard to rent the same house for 20 years straight, and a lot of regions don't offer attractive rentals at all, so this probably isn't feasible. But it shows that the decision to own can be more about lifestyle and stability, not financial returns.

So, by all means, own a home. Just keep your expectations in check."

The opportunity cost makes it a liability. 

You don't take into account the possibility of a major market crash. Yes it has crashed before and bounced back, so 20 years is usually long enough to get your money back, the market hasn't stayed down forever and always bounces back up, but there is a possibility that the 20 years you are in the market could be a lower return than the averages you are using. You can say the same for the housing market also.

 

[FUBAR]

People that dont own a home are jealous of people who do.  And yes it's an asset

We weren't.  

And don't you mean "people"?

 

[KCitons]

I scored a 130 but didn't really try.  Is that good?

I think it's great. 

 

[tone1oc]

You were able to teach people a few things in this thread, so mission accomplished.  Things I've personally learned are:

1.  Tone is not financially savvy and should not be trusted with money.

2.  Tone is not very smart at establishing challenges.

3.  Tone is not a good loser. 

4.  Tone sucks at fantasy football.

5.  SWC is a man among boys.   

I am definitely better at starting threads than you

 

[ProstheticRGK]

My Schwanz has often times felt like a liability, and many times, like my greatest asset (though not fungible). He does not enjoy this thread; he much prefers the yoga pants thread. But this morning, I'm driving.

 

[Ditkaless Wonders]

You were able to teach people a few things in this thread, so mission accomplished.  Things I've personally learned are:

1.  Tone is not financially savvy and should not be trusted with money.

2.  Tone is not very smart at establishing challenges.

3.  Tone is not a good loser. 

4.  Tone sucks at fantasy football.

5.  SWC is a man among boys.   

But not in a NAMBLA sort of way.  (Just thought that should be clarified.)

 

[Sand]

So if I were to buy a T-Bill with that same $250,000 would it also be a liability?

Now make that a Swiss 10 year.