Astute Observer said:
MojoJD said:
...
edit: while we're on the subject, anyone else find it funny to see new $55,000+ cars in the parking lot owned by residents? Talk about some bad financial priorities. (6/7 series bmw, escalades, range rover, E550, etc)
If I can't afford to lease a 2.5 million dollar house, what's wrong with something in a smaller scale like paying for a monthly lease on a nice E series?
I'm going to assume you didn't mean to say "
lease a 2.5 million dollar house." That's a freebie from me to you. You're welcome.
Your rationale blows my mind. You seriously cannot recognize the
HUGE product difference between a $1850-2000/month stack-style apartment and a 2.5 million dollar home!? I think you're exaggerating the number disparity here... a bit.
Hate to break it to you, but there are condo
and detached products in Woodbury (the same neighborhood we are talking about here) for around $500-600K that offer much more home than you get in even the biggest apartment that IAC Woodbury offers. I would submit to you that the lease (are you kidding me?) on an E550 with mediocre options, after tax, will run you just over $900/mo actual payment... and that's after about $6K down. The ~$44K you pay out over the life of the lease, non tax deductible, would have taken you a LONG way to a down payment on your own home. (which doesn't have to be 2.5 million)
But sure, why not, its fun to be perceived as wealthy by other people. That's important too. /s/ Its that "live for right now and tomorrow will work itself out" mentality - let me know how it works out for you 10 years from now.
Either way, I'd like to see the retirement and emergency savings numbers for these individuals.