Comments on: Open Houses Without the Extra $135,000 Mortgage http://blog.redfin.com/boston/2008/10/open_houses_without_the_extra_135000_mortgage.html Redfin Boston Sweet Digs Wed, 01 Feb 2012 20:27:32 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Where's My Bailout? http://blog.redfin.com/boston/2008/10/open_houses_without_the_extra_135000_mortgage.html/comment-page-1#comment-4949 Where's My Bailout? Fri, 03 Oct 2008 15:47:32 +0000 http://blog.redfin.com/boston/2008/10/open_houses_without_the_extra_135000_mortgage.html#comment-4949 Now that we're careening towards a recession, howzabout I wait until prices come down. Then I can have the house *and* the car!! Woo hoo!!! Now that we’re careening towards a recession, howzabout I wait until prices come down. Then I can have the house *and* the car!!

Woo hoo!!!

]]> By: mike.martin http://blog.redfin.com/boston/2008/10/open_houses_without_the_extra_135000_mortgage.html/comment-page-1#comment-4933 mike.martin Fri, 03 Oct 2008 13:26:22 +0000 http://blog.redfin.com/boston/2008/10/open_houses_without_the_extra_135000_mortgage.html#comment-4933 This is really thought-provoking, Pam. I hadn't seen the numbers, but this is why we still drive a 1998 Saturn (that, incidentally, gets an honest 40 mpg). Car payments are a gigantic waste of money, and when people buy a new car, they seldom ask themselves if they can afford the residual expenses. Plus, being the car owners in a group of friends gets exponentially more expensive; we spend an hour after every party shuttling "car-less" city dwellers back to their apartments.... My 2 cents -- people's credit scores jump when they buy a house or condo, and then they invariably get a new car -- which is a recipe for trouble. Keep the junker and save your pennies. Plus, cars depreciate almost as fast as double-dipped mortgage-backed securities.... This is really thought-provoking, Pam. I hadn’t seen the numbers, but this is why we still drive a 1998 Saturn (that, incidentally, gets an honest 40 mpg).

Car payments are a gigantic waste of money, and when people buy a new car, they seldom ask themselves if they can afford the residual expenses.

Plus, being the car owners in a group of friends gets exponentially more expensive; we spend an hour after every party shuttling “car-less” city dwellers back to their apartments….

My 2 cents — people’s credit scores jump when they buy a house or condo, and then they invariably get a new car — which is a recipe for trouble. Keep the junker and save your pennies.

Plus, cars depreciate almost as fast as double-dipped mortgage-backed securities….

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