July 09, 2008

HousingPANIC Stupid Question of the Day

What do you spend per month on

a) car payment
b) gasoline
c) housing

Bonus question (for renters) - what do you do with all the money you save by renting vs. "owning"?


serindippity said...

a) $0
b) $75
c) $1450

(mortgage, in yes, San Diego. I like prices going down too.)

Tokyo Boy said...

a) $0
b) $0
c) $1500

I don't own a car, I can walk to the train station in 5 minutues. And no, I don't live in the ghetto. Also, I am a bitter renter.

Anonymous said...

a) $0
b) $200
c) $1,800 rent

Anonymous said...

re: Bonus question - put it in a safe bank

Anonymous said...

a) $326/mo (a decision I won't make again in the future)
b) $100/mo (we drive very little)
c) $970/mo (San Diego in a great area)

Anonymous said...

a) $0
b) $200
c) $2000 (includes mortgage, tax, insurance and maint, major and minor)

Anonymous said...

No car payment...I don't believe in paying banks interest anymore. I believe in them paying ME interest on my accounts using stupid people that go into debt to live a lifestyle beyond their means.

I prefer to drive air-cooled porsche 911's. I buy used, the insurance is less than a new Honda civic, the engines are bullet proof and not only do they not lose their value, some actually appreciate. You just have to make sure to know your cars.

Don't spend much on gas as I live in an urban area and can walk to everything. The car is more for pleasure. 2k miles a year or so.

How much do I pay on housing?

Let's just say 40% of my Landlords monthly nut and 35% of the fool that bought an identical unit from a flipper recently.

Rom said...

a) $800
b) $150
c) $850/rent control in a nice area

I have a short term, low interest loan on a luxury car. I take much more please from my car than my home.

DRE said...

a) Car: Paid so... $0
b) Gas: $175 for two cars, one driven much less than the other. An average of 40 miles@ day.
c) House: Paid by the US Air Force

Utilities - Not covered enough in Japan where I am.


Anonymous said...

a) $0 ($100-$125 Car Sharing Service)
b) $0 (Not including increased food prices)
c) $1200 Rent

haus said...


figure that one day I will be able to buy something in Northern Virginia that I would like at a reasonable price. On the bright side it is getting closer.

6%? In Your Dreams said...

A) $170 (own 3 have payments on 1)

B) $350/Mth up from $250 a yr ago

C) $675 (15 yr note that will be paid off when I retire at 50).

Freedom is getting out of debt...my situation has not always been this good but selling my home at the height of the bubble and staying with-in my means has helped...not to mention going to work everyday.
Sure feels nice to have control over YOUR paycheck...not GMAC,AMEX,BOA/CONTRYFRIED & the rest.

emmy said...

The mortgage payment includes taxes, a little high, and the car has been paid for, and we're watching that gas bill. Still, with a household of kids, it is hard not to need the car. We live in town, and everything is close by, not a farflung burb.

Anonymous said...

a) 0 (I own outright)
b) 100 (Not a hybrid, I bike to work)
c) 1850(Rent for a 3 bed 2.5 bath TH)

Renting Bonus: 750 USD
(Metro DC/NOVA)

gk said...

Car payment: 0
Gas: 120-150
Housing: 575

Just saving, investing, and having some fun with the rest each month.

Quentin Daniels said...

Monthly car payments = 0. I pay cash for cars and drive them till the doors fall off.

Monthly mortgage: $1256 on 4000 sf home I purchased in 1994 for $202K. I owe $38K on it.

Monthly gasoline: approx. $50 since I work from home or travel, no car commute. When I travel, I take rail to airport.

Anonymous said...

a) $0
b) $120
c) $1500
includes cable tv lawn care in a very nice area . As home prices drop I'm living rent free so I am very happy renter.:)

Anonymous said...

$2,600 for all.

guess what? . . . . I gotta a lot of debt too.

Where were you about 4 years ago when I needed you?


Anonymous said...

a) car payment $0
b) gasoline $120/mo 2004 Civic
c) housing $600/mo rent INCLUDING all utilities...Yes it's a sweetheart deal in an affluent Philly burb, also 20miles from Princeton Univ.

Anonymous said...

a) car payment
$0 I own all 4 of my cars outright.

b) gasoline
$600. I have a short commute but drive a lot on the weekends in the summer. Plus I own 2 1960s muscle cars that use up 1/2 a tank just to drive to the gas station. But given all that I still spend less on cars than most people's leases alone.

c) housing
$1700 rent

Life is good. Very good.

Anonymous said...

$435 = car

$400 = gas

$800 = house payment (fixed, at 4.89%)

Car and gas seems like a lot until I realized what I spend on drugs, women, gambling, alcohol, drag racing, contributing the max to my 401K, and just generally having a good time. Hey, you only get one shot at this life. I am not spending it sober, or in a tiny apartment in the hells of the inner city.

Worked damn hard to get through college, and average over 50 hours a week at work, so I dont feel bad at all about living a little crazy.

I think I would also make a GREAT POLITICIAN!

Anonymous said...

a) $350
b) $75 (we don't drive much)
c) $2500 (mortgage+tax+insurance)

We get about $400 of the mortgage back at tax time.

Anonymous said...

a) $0
b) $250
c) $4200 (rent in Manhattan and own in the Hamptons)

bostonobserver said...

A) 2 cars, payments = $0
B) Gas = $250
C) 2 houses, mortgage = $0, taxes and insurance ~ $1500/month

Anonymous said...

What do I do with all the saved by renting??

Stock up on canned goods, emergency supplies, guns, amo, and of course, Hookers and Blow get the rest......

GK said...

a) $0 (2 cars, 2 continents, cash)
b) $150 ($7.50/gallon * 20 gal tank)
c) -$3000 rent out + $4000 rent in = $1000 mo positive cash flow

What do I do with my debt freedom?

Living in New Zealand. Summer in California.

Anonymous said...

Hey renters, the bailout bill is a done deal. And people are starting to buy. You all keep renting like good little losers. Someone has to pay my mortgage for me, and it might as well be you.

WASHINGTON (AP) -- Mortgage application volume rose 7.5% during the week ending July 4, according to the trade group Mortgage Bankers Association's weekly application survey.

Refinance application volume rose 8.7%, while purchase volume increased 6.7%. Refinance applications accounted for 37.3% of all applications.

Up 7.5% during a 4 day week. Yeah, nobody's buying houses anymore. Indeed.

Anonymous said...

a) 0 paid off
b) $300
c) $850

Mike Hunt said...

a) $0.
b) $100.
c) $300.

I don't own a car, walk to public transportation which is dirt cheap (Bangkok). Wife owns a car and I chip in for gas but it's a Honda Fit (named Honda City in Thailand) and gets 15 km / liter.

Own the house here, there are no property taxes so $300 per month covers ALL utilities (including broadband) and expenses. So F*** off renters and homedebtors, true homeownership is dirt cheap.

I used to bank and invest the money until I lost my job earlier this year. Now I'm looking for something else. In the meantime I'm just chilling out, getting back into shape, travelling and enjoying life with the wife.


Anonymous said...

a) $400
b) $60
c) $800 (same rent payment for 6 years)

I buy good cigars, play a lot of golf. I know I should be saving, investing, maximizing returns etc.

but for now - I buy good cigars and play a lot of golf.

Mark said...

a) $351
b) $125 (though I have started taking the bus so this number could be lower)
c) $1020 (rent)
Bonus: I am getting out of debt by renting versus being farther in debt by "buying" a house

Anonymous said...

a) $0, paid cash for all three
b) $150 (3 cars, 2 gas mowers)
c) $2000 (22.6 acre farm in SE IN) includes taxes, insurance and upkeep)

Anonymous said...

Gas (+ oil changes) : $450 (I telecommute - going to the office once a week, but my wife works three part-time jobs, and my kids drive to a lot of activities)

House : ~ $1,250 in suburb of St. Louis, MO for a 3br/2b ranch. 10 years of 15 @ 5.35 left. Payment < 1/4 of take-home pay, house value about 1.4x annual income.

Car : $492 for a 4 year-old new Kia van we bought new. $2,300 left on it, then we are debt free except for the house.

Bonus Question (modified) : what do I do with all the money I save by having a house 1/2 the size/cost of my friends? I homeschool my kids and provide them with some good opportunities/activities to get scholarships to pay for their own school. Plus, I have been using it to get out of debt.

Anonymous said...


bitter renter here.
sooo bitter.

oh, and and i owe $0.

David said...

Per month:

Car payemnet: 0$
Gas: 100$
Housing: $1250 (rent)

greyhound said...

a) 3 cars ... $300

b) 2 cars ... 12 mile total commute. $160 or so.

c) $1600 rent

d) buy shorts, and I don't mean pants.

Anonymous said...

a) $0
b) $300
c) $1,517 (mortgage)

Why? said...

Why is this releavant?

JesusCrispy said...

a) $200
b) dependent on vacation, without travel $100 @ $4/gallon. Mostly ride bike, walk, or ride bus dependent on mood to work.
c) $2100 mortgage, gotta pay if you wanna play/live near work.

Anonymous said...

The biggest bill I face is school tax. I am 41 now and paid the house off at 35.

School Tax! I never attended public schools and I have no children, so why is there school tax on my house.

County tax for police and fire I can understand, but not tax to pay for other people's children to attend public schools.

So the biggest bill I have is something I should not have to pay at all.

kb said...

a. $0
b. $150
c. $250 for property tax & insurance

mike said...

$468 chicagoland insured subaru sti

$360 ish (far burb) - but work ends up paying for it all really (IT consulting)

$2378 (but i split with my brother) for 15-year 6 3/8 mortgage. in process of refininancing to 5/5 ARM starting at 5.25. 2300 sq ft. recently appraised for 270k.

mike said...

mortage includes tax and insurance too btw.

LauraVella said...


Buying gold and silver steadily over the last year or so.

MrBill said...

a) $0
b) $240 (local price $4.09 per gallon)
c) $856 mortgage payment (P&I)
$300 total RE taxes and sewer fee

Cranston, RI

The Bum said...

a) $0
b) $0 (my employer pays for my bus pass)
c) I rent what would have been close to a $500,000 condo on Miami Beach for just under $1550 a month with no condo fees and water included. I imagine I save a lot by renting.

Anonymous said...

a) $0
b) $200
c) $690 mortgage + $300 extra payment per month

Located in Tuscaloosa, AL
yes we have electricity, hi-speed internet, and computers here :)

Anonymous said...

a) 475
b) 950
c) 1000

Anonymous said...

$0 car paid off years ago
$175 get ~30 mpg.
$400 Rent w/ gf in very affluent suburb.

Anonymous said...

a) $0
b) $20-40
c) $820 - rent

I don't work so I make all my outing one day a week and work it to use the least amount of gas. The rest of the time I bike, as does the husband for his commute. And we live in a very nice yuppy/young family neighborhood.

With the excess we buy silver and items to cover our backsides for the future, like a big trailer for the husband's bike or my bike, what have you. We save a little and invest a little. Really, we try to balance to cover all our bases.

Anonymous said...

What do you spend per month on

a) car payment
b) gasoline
c) housing
a)Let's see, on my car payment, I am paying $17,505 for my signature Bugatti limited edition.

b) on gasoline, I pay premium, so at $4.89 a gallon for premium, it comes to about an even $100 bucks a pop

c) on housing, I'm paying for a 5000 square foot ocean front house in Malibu formely owned by George Clooney. My monthly mortgage is about $35,000 not including property taxes.

Anonymous said...

a) $0
b) $300 (life in LA)
c) $4000 (house will be paid off in about 5 years, bought in 2001)

geekgrl said...

a) $0
b) $120
c) $700

Right now, I,m just putting the money in the bank and IRA. I seriously need to diversify.

PhxRenter said...

a) $0
b) $160
c)$500 (includes renter's insurance and 1/2 off for managing a 9 unit complex)

Bonus: Savings at 3.5%, Paid off car and 12,000 in revolving credit

Colin McNamara said...

a) 0 - Both are paid for
b) 300 - 500 a month
c) 1900

I am a renter, so I am constantly surfing craigslist to pick up a luxury vehicle from a former real estate agent ;)

Joe said...

a $0
b $60
c $0

Anonymous said...

a)$0 (bought with cash)
b)$40 (I take public transit to work most days)
c)$1700 for everything for a 3BR condo in Boston near the T. 30 year fixed with 20% down and 6.25% intrest.

Carioca Canuck said...

car payment = 0 (it's paid for)
Gas = $200 (regular unleaded)
Rent = $1550 (1/3 the price of buying the same place)

Anonymous said...

a) $340 (I owe 14K - my only debt load)
b) $60-$100
c) $815 (half that if my school girlfriend keeps up on her share)

I am a bitter renter. My second floor, corner of the building, 2 bedroom 1100 sq.ft. overIooking protected marsh land and lake/pond, 5 minute walk from work is just not enough.

It is just awful to have a lot of extra cash every month. I am thinking about buying an overpriced, quality built McMansion™, with an hour commute to take care of the issue.

What do I do with my extra cash? Well lately I have been stocking up on commodities. No... not oil. I am talking about water, food, medical supplies, weapons, ammo, off grid power. I will admit that I have been dabbling in metals, mainly silver.


resisting husband said...

a) no payment, but about $1700/yr in maintainence, registration and insurance for two cars.
b) $193
c) $875

Milton said...

a)$0 (both cars paid off)
b)$200 (for two cars)
c)$750 (includes insurance, taxes, association dues, etc.)

Anonymous said...

Car: $310
Gas: $200 (I live in a rural area and have a 30 mile commute.)
Rent: $130 (not a typo, not a dump, 2 bed 2 bath 950 sq ft, built in 1997)

I spend the saved money on clothes, jewelry, and steak dinners.

donald said...

I own my car. No car payment. And since my mortgage is LESS than rent is, I use the saved money to eat out since I hate cooking.

Mammoth said...

a) car payment

b) gasoline
$50 Use public transportation
to commute
(Bus – Ferry – Vanpool)

c) housing
(Mortgage paid off)


bearmaster said...


a) no car payment
b) $58 L.A. County EZ bus/train Metro pass + estimated $70 gasoline.
c) $700 (my half of the rent); $1400 for this apartment. We rent in north Redondo Beach. RB residents also can get a discount on the EZ Metro pass.

Putting the savings away mainly in cash and putting a little away according to Peter Schiff's and Richard Maybury's recommendations.

Anonymous said...

a) $0
b) $80
c) $1250 Rent nice house. Comparable mortgage alone w/ 20% down in our area would still cost about $1,800 to buy.

Take home pay = $8,000
Monthly Expenses = $2,900
Savings = $5,100

Ages - 29 & 34

Net Worth - $251,000

No Debt

Brian said...

Barbara "What Housing Bubble!?" Corcoran - doing a complete, cynical about-face. Too funny. You must watch. They introduce her as a "real estate legend - a real estate guru"



JordanT said...

These numbers are for the me and my wife.

a) $182
b) $200
c) $1600 (rent in N. PB)

The extra money is being put into a savings account and CD's for a downpayment once this all shakes out.

Anonymous said...

a) $0
b) $60
c) $968

Anonymous said...

a. $0 for 3 vehicles
b. $300-400 for 2 (each 20+ mpg)
c. $3000 It's south Florida thing!

Rick in Boca

Anonymous said...

A) $0
B) $300 (but much of it is reimbursed by my employer)
C) rent $2600 for one of the best coastal communities in LA

Anonymous said...

1. $0 for 3 vehicles
2. $3-400 for 2/each 20+ MPG
3. $3000 (ouch) South Florida

Rick in Boca

thegreater said...

a) $105 - I paid most of my minivan purchase of last December in cash, and financed only $5K. Will wipe it clean in 6 mo)
b) $0 - Negotiated a gas card w/ my employer.
c) $1650 rent in Arlington, VA

Money saved on non-mortage is probably $1500, as we moved here in 2005 and prices were going crazy. We now put at least $500 away for a house down payment each month, plus feed 10% of salary to 401K. Also have IRAs for me and the Mrs that get $50 each, and $60 a piece to 529s for the three kids. Lastly kick $100/mo into emergency savings.

42 said...

1) $413/mo (lease ends in Nov, buying used for cash)
2) $125 or so
3) $0 (long-term house-sit)

Anonymous said...

a) $0

b) uh, $40? Prius + Short Commute = Who cares about $5 gas

c) $1800 rent

d) saving at least $1000/month versus owning, putting it into VBMFX and VCTXX.

waitingindc said...

a) $0 (we paid cash)
b) $60 (Hybrid--we hardly drive)
c) $2200 -- nice big house, good schools, walking distance to metro

Enki said...

a) $350 (nearly done now)
b) $500 (NO usable transit outside of vancouver)
c) $1600 (less than half of the owner's mortgage).

Bonus: Bank. Have managed to save a couple hundred Gs between selling our last house at the peak (thanks for the heads up, California), and banking the rent/mortgage difference.

Anonymous said...

a) $450 (one car payed off one will be payed off in a couple months)

b) $800 (this is sad but true we drive a lot)

c) $1400 (includes mortgage, property tax, and insurance. we rent form the bank but we put 20% down and have a fixed 5.75 rate for 30 years. We will pay it off well before 30 years.) There is another $1200 we spend on a rental property we own. (tax, insurance, mortgage, and HOAs are paid for and the rate is fixed for 30 years with a 6.5% interest rate)

For the sake of the argument we rent out our condo for more than it cost us and we could do the same for our house.

Anonymous said...

a) 0
b) 200
c) 1400 that is everything utilities, taxes, trash, insurance and bank payment. For the Norfolk/Virginia beach area this is about the same as renting.

Anonymous said...

Foul-mouthed and unrepentant bitter renter here.

a) 0
b) 70
c) 600

Because I don't own an albatross or have a 10-ton leech adhered to my neck, sucking me dry, I'm able to save and invest well over half my net income. No ho-moanin' here.

Isn't safe bank an oxymoron? And given balance sheet opacity and mark to model fantasy, how safe is a safe bank anyway?


Anonymous said...

a) $0
b) $100
c) $1558 We rent 1.5 miles away from work

Anonymous said...

Greg Swann cant even take his wife to Vegas they're so swamped by bills and no income


Anonymous said...


Saving like a motherf'er

Anonymous said...

a.) 365.00 (driven by significant other)

b.) 0.00 (I take the bus and train)

c.) 2550 (1550 of it is mine- F'in DC Metro area???!!!)

Renting. I have managed to pay off about 10K in CC debt and save another 50K in the past 1 1/2 year. More importantly, however, I have learned and taught those close to me to do the same.

Anonymous said...

a) $0
b) $0
c) $410
bonus: save it

Anonymous said...

I make $500,000,000 a year, own 100,000,000 ounces of gold. I also date super models, have a six pack and speak 12 languages.

See how easy it is to make shit up online?

Anonymous said...

car = zero
gas = $150 - $175 (depends upon how often I ride my motorcycle)
housing = $500 (one of the few expenses I have that has NOT gone up during the past four years)

extra money saved = into money market fund and strung out on promotional rate certificates of deposits as they become available. Most recently put money into a 5% - 9 month certificate offered by a credit union opening up a new branch within walking distance from my crappy (but super cheap - on second thought, it is not THAT crappy) apartment.

Smug (and feeling more smug everyday) Bastard

Anonymous said...

No debt and every possession is paid off. The biggest expenses are insurance, food, and fuel.

Extra money if there is such a thing goes into my muscle car:)

JRinAZ said...

1) $0

2) $160 / mo. (98 Jeep Cherokee...not very good gas mileage, but it gets me to work).

3) $1200 total, my share about $400 (with utilities included)

Bonus- I save and invest most extra money I have. The other money goes to going out to eat and traveling.

Anonymous said...

a) $0 (cars paid for)
b) $25 (live close to work)
c) $900 (15yr fixed)


saving and waiting for opportunities

HB Slacker said...

A) 0 I own 07 Prius
B) $80 on the Prius (approx 20 bux a week) about $80 on the boat (3 litre 4 cyl merc cruiser including the v6 4runner to trailer it 12 miles to and from back bay marina
C) 900 space rent I own outright my OC beachfront mobile home.

seeker11 said...

a) $250-depreciation on the car. I own the car but some day I may need another so I count depreciation.
$50 per month of Insurance. ( Interesting to see that those who own the cars outright count the cost as zero)
b)$100 per month on gas.
c)$1000 counting all the expenses associate with the house- including repairs, utilities etc. etc. The houses is fully paid- no mortgage.

Anonymous said...

a) $0
b) $50
c) $635 rent

This for 900 sq/ft in a clean and quiet building in a clean and quiet neighborhood and includes heat which in Cleveland would be $2000+ for the winter.

Anonymous said...

a) $0
b) $40
c) $500 mtg. (ins. + taxes are another $500.

Anonymous said...

a) $0
b) $100
c) $500 for prop taxes and insurance since I own outright in Central Florida
I'm retired

jake said...

a) $0
b) $150 (will be $250 once it cools down and I can resume riding my MX bike every weekend)
c) $600 rent + utils (subleasing a room in nice house, 3 car garage, etc)

$3200/month goes to house downpayment with current balance of $82K.

Anonymous said...

a) $0
b) $50
c) $1000

banshee said...

a) $0
b) $50 (just started biking to work to get in shape, since my wife stopped working)
c) $2300 (4br3ba 2500sqft in San Diego)

Upstate ny said...

car(s) 550
Gas 500
Mort 600

Anonymous said...

a) 0
b) 300
c) 500

Both cars are paid for. Gas is expensive here. Even though we "own" there's still tax and utility bills to be paid for.

Paul E. Math said...

Car - $244
Gasoline - $200
Rent - $1100

The money I save:
- skiing in the rockies trip
- montreal grand prix trip
- 20% retirement
- booze, baby, booze
- restaurant meals
- big hdtv
- clothes
- Sox

mtperson said...

a) $0
b) $150
c) $150 (property taxes and maintenance)

I live 25 miles from the nearest store, so I don't go out much and, consequently, don't spend much. Best thing I ever did was get a fixed 30 yr. mortgage and then pay it off as soon as I could (8 years)

GT said...


Anonymous said...

a) $397. This was the first new car I ever bought and will be the last one. Two years old and just breaking 20,000. Previous to that, I drove a 15 year old Honda Civic that was paid off several years previously.
b) $200. Takes $50 to completely fill-up the car
c) $920. PITI for brand new construction in Portland Oregon. Builder took a 15% haircut and I got to live in a place that rents out for about the same.

Anonymous said...

Car Pmts: $ 0

Gasoline: $ 120

House: $2600 (I rent sf home in OC, California).

Anonymous said...

a) car payment + insurance = $340/month

b) gasoline = $50/month
I lease a Prius and walk the 3 miles to work each day so I don't use much gas.

c) housing = $605.50/month
I split rent with my GF on an apartment in the 94041 aka Google Country.

So housing and transportation work out to ~10% of gross annual income.

Anonymous said...

1) $O
2) > $100
3) $3,000 mortgage

Anonymous said...

(A) $1,000
(B) $ 350
(C) $2,096 (P.I.T.I.)

Out at the peak said...

a) $0 car payment
b) $108 gasoline
c) $1200 housing

long beach,ca said...

a) $0 - car's paid off
b) $70 - i take the bus to work but i drive on weekends.
c) $500 - includes hoa dues, taxes, and $200.00 minimum payment on my heloc. first mortgage paid off.
- extra cash? - eat out, pay down heloc, and invest. i bought citigroup the other day at $16.13. we'll see what happens.

Lost Cause said...

Ok, I am really overpaying for rent, but I am trying to cut back on gasoline. These comments are enlightening. The car is paid for.

I try to save everything. Recently I have had unexpected expenses.

Anonymous said...

A. $256
B. $100 ish
C. $,1275

Net monthly income $5,800 life is good!

Right now I am blowing a lot of it on weed and hookers.

Anonymous said...

a) $0 I ride a paid for bicycle
b) $0 No car = No gas
c) $0 Mom's basement

Anonymous said...

a. $0 drive old Hondas with excellent gas mileage

b. about $140 for two cars at current gas prices

c. $0 mortgage
about $650/mo for real estate taxes and house insurance

douche inquisitor said...

"Hey renters, the bailout bill is a done deal. And people are starting to buy. You all keep renting like good little losers. Someone has to pay my mortgage for me, and it might as well be you."

Hey anon 1:37, you seem like a pretty stupid shit, probably a bitter realtor. I have to ask you a very serious question. What kind of douche do you use -- Summers Eve Vinegar & Water or Summers Eve Island Splash?

I'm thinking that you probably use Summers Eve Island Splash. It's a great diversion to think that you are sunbathing on the beach of a tropical island, rather than sitting in the living room of that rapidly depreciating hellhole that you call a house.

That, my friend, is the power of a highly effective douche.

Anonymous said...

a) $0
b) $5 / week
c) $0 (taxes + ins. ~$120 / month)

Would have bought another house, but the banks like lending to deadbeats and keep running up prices. Lending money to deadbeats is big business.

Anonymous said...


I just purchased a house in Lafayette, IN. It cost $53,000 and taxes are $480 per year. My housing expenses are now about half of what I had been paying to rent in West Lafayette.

Anonymous said...

a)$0..I own all 5 of my cars outright. I'll never finance a depreciating asset like a car.

b)$170 me....more like $500 factoring in all drivers in my house

c)$0..house paid for BUT...remodels and repairs eat up maybe $600 a month if you spread out a typical year of upgrades and repairs.

MinneapolisISnice said...

a) 325 and 0
b) 300
c) 1200 (20 year mortgage)

Conversekidz said...

A) $600
B) $400
C) $500 (my half of rent for a 2 bedroom)

I'm young and have my dream car.

This is my take on the matter. If we have an economic collapse/peak oil/down fall of society at least I got my dream car and I had a good time up until the "down fall". If it turns out we get out of the bad situation, I am young and will be able to pay the car off and have 40+ years to save.

Who cares about owning a house? home debters?

Mike said...

1) - $0 Pay cash for cars

2) - $100 Work is 1/2 mile away

3) - $900 Mine in 9 more years, taxes and Insurance included.

Anonymous said...

a) 0
b) 200
c) 400: utilities, maintenance, anticipated $5/gallon heating oil this winter (metro NYC). Mortgage paid off years ago.

HappyWahine said...

a) $0 - own both vehicles outright
b) $75 for me, $200 for hubby who uses his vehicle for work (self-employed)
c) $975/mo in a beach town in paradise

Anonymous said...

a.) $650 (two cars one purchase one lease
b.) $400.
This is on expensive Long Island, NY - my 'home owner' buddies wear shoes with holes in them ...

Anonymous said...

a) $0
b) $100
c) $6000 (own)

I live in NYC - you can't rent a decent family sized (aka, 3-bedroom) place to live for much less, so we chose to buy.

PA_dweller said...

a) $0
b) $300-500
c) $1440

Still drive into DC afew times per week...that's my gas bill coming from PA.

Country home recently bought for 230K near Harrisburg, PA. Property taxes are 450 per month and rest is mortgage.

Life is far from perfect. I didn't want to rent in DC anymore and couldn't bring myself to buy there. I also have hotel expenses which can be significant - I tell myself this is only temporary until my wife and I transition to our new life.

On the plus side, I have 5 acres and love being close to nature.

The Housing Bubble Ate My Balls said...

a) $0 (Two Cars Owned)
b) $40
c) $2395 (Rent, Walking distance to town, kids schools, grocery stores, etc, train. Train is 15 minutes to major city, heat, HW, cable, trash, snow removal, included)

Save ~$2000.00 a month over owning when interest, taxes, utilities, and maintenance are factored in.

Bonus: Most of the money we save isn't really saved but, it allows us for the first time in our lives to not be a dual earner household and my wife can now stay home with our daughters and work part time when school is in.

So the savings doesn't so much go into our pockets or accounts but, The quality of life and happiness as a family is 100X better.

Anonymous said...

a)$0 ( two cars)
b)$0 ( not really zero, I use percentage of my oil/oil service stock dividends to pay my gas)
c)$0 ( I still have to pay tax, insurance, electricity, gas, water, phone, cable, maintenance...)

Anonymous said...

a) $0
b) $0
c) $833 (all utils included) Dupont Circle - Washington DC (this area is normally prohibitively expensive)

walk to work, don't own a car, so in a pretty good situation so far.

area 51 said...

a) $0
b) $175
c) $350 (includes water, sewer, unlimited electricity)

donald said...

"c)$0 ( I still have to pay tax, insurance, electricity, gas, water, phone, cable, maintenance...)"

TRANSLATION: You live in your parents' basement. Very sad indeed.

Anonymous said...

2 cars, motorhome(19mpg), boat, and home on 5 acres with 1 acre vegi garden, 4 guns, lots of ammo, stored food and water, generator and gas for it are paid in full. Retiring in September at 56, $900k in cash and investments, Spend $40k a year for 2 of us of us to live on.

newyoik said...

a) $0 (Zipcar for summer trips to the shore)
b) $0
c) $4000

Recently bought a studio next door to our one bedroom for combo when the owner died. Timing wasn't perfect, but opportunity knocks, and families grow. Rent for a similar apartment is ~5500-

Anonymous said...

1) $0 for car
2) $120-150 gas
3) $1152 mortgage, 3br townhouse

Anonymous said...

a) 0
b) $600
c) $4200

Anonymous said...

a) 0
b) 150
c) 1500

Bonus question (for renters) - what do you do with all the money you save by renting vs. "owning"?

buy gold and silver

marco said...

a) $0
b) $45
c) $1,060 (PITI)
d) Beer = $100/mo. :)
e) Savings = 12% income

--- Beer money should probably go into savings then I could lose some weight and get a little richer... naaah.

I'm always amazed at how little many of my peers around me save, some basically nothing. I've been out of school for 5 years now I know plenty of people who are too short-sighted to think about what they're going to do for money when they get old and it's tough to work. I started saving money the month I got my first real paycheck and some of these people are pushing 30+ and have so far spent every single dime they've earned.

marco said...

--- As far as "rent vs. own" --- where I live, that's all pretty much in balance. At the end of the year I would spend the same amount of money renting.

sorry for the dbl-post

Anonymous said...

a)$1,324 (2 cars)
C)$4,690 + tax & insurance (which I pay cash for)

Corndog Willie said...

$3500 (NYC)

Anonymous said...

a house in in. cost to own 54,000 is paradise to me...no money grubbing "your in parADISE" LEECHES GRABBING AHOLD OF MY NECK AND ANCHORING THEMSELVES FOR YEARS AND YEARS.............TRASH TRASH TRASH.

Anonymous said...

a) $0
b) $160
c) $918

charlatan said...

in scotland

a) = b) = 0
c) £595 (just under ($1200) per month.

no car/work from home. i use the bus the once a week i have to go anywhere. moved out into the sticks in the last few months. got a place at least three times as big as my place in the city with a view of sea, mountains and obsolete nuclear submarines....the only catch is oil heating!

what do i do with the left over money? (actually there is a lot more than my work income would suggest since we just had a kid and so the government is throwing almost as much as our rent at us every month as a result, not including what they are paying the wife to be on maternity leave....)

stick it in the bank. but not northern rock, bradford & bingley, the halifax......