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<p>Here's my philosophy about "conspicuous consumption": Buy it if you can afford it. If you can't, don't buy it.</p> <p>I don't have a beachfront mansion, Ferrari, and a Patek Phillipe not because I think they are a waste of money and snooty, I don't have them because I can't afford them...

<p>The rationale would obviously be that if they feel housing prices in certain parts of the U.S. are approaching bottom and the dollar is poised to go back up, this would be a good time to buy. I think there are merits to this reasoning if you consider markets such as Las Vegas and Florida...

<p>I have to agree with Rick in that the decision to buy is about affordability, but then also agree with Qwerty that the fundamentals have to be right. The fact of the matter is, I would want the market value to be somewhere around the fundamentals. However, there is a premium for emotional...

<p>Bix,</p> <p>My next watch, I want an IWC. I am of the opinion that from a pure quality standpoint they are the best. Of course that opinion is purely subjective, and have no basis to back that up. My in-laws have Omega Constellations and they are just okay. I think I just don't like the...

<p>"If you are going to buy a decent watch then it has to be one of the well established swiss makes like Jaeger or Cartier and not one of the 'designer' watches e.g. mont blanc"</p> <p>The "designer" company that has been around for 100 years happens to make their own watches. In Switzerland...

<p>Hey, Las Vegas is all good! But then, it's my hometown...</p> <p>These are personal experiences from owning these: Rolex is very accurate and lasts for a couple of days without winding. And it is a tank, very sturdy and quality material. Mont Blanc tends to speed up a bit on normal...

<p>With brands like Piguet, Patek Phillipe, and Piaget, you really are talking another level of luxury. These watches cost in the 5 figures (I have never seen one for less than $15,000). I would say Girard and Jaeger are in the Cartier class, and Concord and Ebel a class below that from price...

There's a bunch of athletes and bands from OC, but I don't think we should count that. Are the brats in Laguna Beach and the wives of Real Housewives of OC considered celebrities?

<p>Wow, some idiot bought an 1800sf home in Ladera for $700K this year? From my calculations you took a $25,000 investment and moved into a 3000sf house, and proceeded to make $200K in the process. That is great for you, it is better to be lucky than good. I know, I also used blind luck to...

<p>Well, if you feel that the society as a whole has been getting worse every generation, then I think you can say "yes, kids today do feel that entitlement". My personal feeling is that history shows we have been through this before. In the 80's, everyone wanted to be an investment banker or...

<p>CalGal,</p> <p>I have no problem with people driving luxury cars, more power to them. There's no shame in being able to afford a BMW or a 3000sf house. The only thing that makes me wonder are the ones who brush off those with luxury cars as conspicuous consumption, and then talk about how...

<p>Roo,</p> <p>I'm not sure how old you are, but based on the fact that you are a first-time buyer, I would imagine in the late 20's - early 30's? When I was in my 20's, I too had dreams of being a homeowner. I dreamed of buying a 2-3 bd condo or townhouse, 1200-1300 sf. Then when I had...

<p>"The Intelligent Investor" by Benjamin Graham </p> <p>Yes, an essential tool for investors.</p>

<p>Well said, Bigmoney. </p> <p>Now, I do see validity in what the doctor says and don't have a problem with the 200 multiplier, so I revised my NPV calculations to include the impact of money saved and reinvested (at earnings - tax) and principle payment "forced savings". What I get is...

I get around $180 factor. Two assumptions you made seems a bit off: First, a "new" place that would only require $700 annual maintenance would charge more than $150 for HOA. It should be more like $250-300. Also, earnings on $100,000 these days should yield around $400/mo. I come up with a...

Economist magazine is a great resource in general. I also found that my knowledge in Time Value of Money, Discounted Cash Flows, and CAPM in general have been helpful, so it might be worthwhile to catch up on those concepts from financial websites (money central, marketwatch, etc.) or...

<p>Agree, used car is a better deal. However, it is a personal preference, some people (like my wife) just do not like used cars. And if you've had a bad experience with one, it's tough to go back to one. I haven't bought a used car in years, but that would be my preference.</p> <p>IF you...

Agreed, LL. Nothing wrong with a man (or a woman) who drives a BMW if he can afford it. Sensibility and luxury can happily co-exist.

<p>I"m going to contradict others here. Pay off the car payment at 7.75% as early as possible, but in my opinion not at the expense of saving 10% of your income per month. Do that first, and then put the rest into paying that car off. But that's personal preference, given the interest rate is...

<p>Tourbillon,</p> <p>Marshall MBA? Fight On! </p> <p>I have to concur, I think most Asians in Irvine would not be classified as "wealthy", just well-off. The wealthy ones send their kids to private schools - Phillips Academy, Marlboro, Westlake, etc. Heck, even the not-so-wealthy ones go...