Scott Wilson to Buffalo for 5th rounder

[Thorny]

I don't think any message is sent by publicly embarrassing these guys. It's just going to make them resent Housley and try less, because they know they're not going anywhere and he will

 

Want to punish them, or send a message? Do the old classic. If someone isn't putting in the effort, or screws up, or whatever, make the entire team do suicides, while that guy watches and blows the whistle. He won't do it again, I promise that

 

 

###### off

That may actually be worth a try.

[MattPie]

If you're buying a primary residence home for financial benefits, you need to plan on moving and often. The leverage is what your capitalizing on. I.e., when you sell, the outstanding mortgage is paid at face value but any appreciation goes into your pocket. You then use this to pay 20% (or nowadays even less) on a larger house. Lather, rinse, repeat. ;)

 

The tax break on the mortgage & property taxes help, but is small change compared to leveraging appreciation.

 

(Says the guy still living in the house he bought over 20 years ago. :doh:)

 

Appreciation you say? Lucky. Some of the things I've read suggest that housing prices on average just keep up with inflation. Sure you might get lucky/smart or do a bunch of work and make out, but on average a house is a savings account and that's it. For fun, I punched my parents house purchase price (from 1978) into an inflation calculator and it came out on the low side of what they'd probably get for it today, but that doesn't include interest paid.

[Doohickie]

Appreciation you say? Lucky. Some of the things I've read suggest that housing prices on average just keep up with inflation. Sure you might get lucky/smart or do a bunch of work and make out, but on average a house is a savings account and that's it. For fun, I punched my parents house purchase price (from 1978) into an inflation calculator and it came out on the low side of what they'd probably get for it today, but that doesn't include interest paid.

 

Depends on the market.  I've been in my house twenty years.   It appreciated about 20% in the first 14 years and 50% in the last 6.  Fort Worth was not a good flipper market until about 2010.

[Taro T]

Appreciation you say? Lucky. Some of the things I've read suggest that housing prices on average just keep up with inflation. Sure you might get lucky/smart or do a bunch of work and make out, but on average a house is a savings account and that's it. For fun, I punched my parents house purchase price (from 1978) into an inflation calculator and it came out on the low side of what they'd probably get for it today, but that doesn't include interest paid.

LEVERAGE of any appreciation, I say.

 

You buy a house for $100k (not saying you're cheap, just keeping the #'s easy) w/ $20k down on a 20 year note at 4%. Your monthly payments would be $384 (this doesn't include taxes). At the end of 2 years, you would owe $77,073. If the house had appreciated at ~0.5%/yr, it is worth about $101k. If you sell and roll it over into a new house, to have the same payment, you now can afford a house for ~$104k (neglecting closing costs).

 

Had you paid an extra $116/month on the 1st mortgage ($500 vs $384), after 2 years you'd only owe $74,179 and you'd now have $26,821 of equity in the house and for the same $384/mo payment you could get a house worth almost $107k (again, neglecting closing costs).

 

Had the house been in a regular housing market rather than WNY, you'd have appreciated a lot more and would have been able to use your equity to buy something even nicer.

 

Again, you don't buy a house & hold it to make money. You go from your starter house into a slightly larger one, then another, etc., etc.. if you live in the house 2 years out of 5, you can roll the capital gains into the basis on the new one.

[ubkev]

LEVERAGE of any appreciation, I say.

 

You buy a house for $100k (not saying you're cheap, just keeping the #'s easy) w/ $20k down on a 20 year note at 4%. Your monthly payments would be $384 (this doesn't include taxes). At the end of 2 years, you would owe $77,073. If the house had appreciated at ~0.5%/yr, it is worth about $101k. If you sell and roll it over into a new house, to have the same payment, you now can afford a house for ~$104k (neglecting closing costs).

 

Had you paid an extra $116/month on the 1st mortgage ($500 vs $384), after 2 years you'd only owe $74,179 and you'd now have $26,821 of equity in the house and for the same $384/mo payment you could get a house worth almost $107k (again, neglecting closing costs).

 

Had the house been in a regular housing market rather than WNY, you'd have appreciated a lot more and would have been able to use your equity to buy something even nicer.

 

Again, you don't buy a house & hold it to make money. You go from your starter house into a slightly larger one, then another, etc., etc.. if you live in the house 2 years out of 5, you can roll the capital gains into the basis on the new one.

Moving sucks more than anything on Earth. Dealing with the mortgage company, jumping through all those hoops is the second worse thing ever. And saving 20k is so easy a cave man could do it.

[Taro T]

Moving sucks more than anything on Earth. Dealing with the mortgage company, jumping through all those hoops is the second worse thing ever. And saving 20k is so easy a cave man could do it.

Didn't say it was fun. Also, in an earlier post, pretty sure it was pointed out that the down payment can be much lower than 20%. ALL the post was meant to say was that if you want to get the most appreciation of your money, moving often is the way to go.

[ubkev]

Didn't say it was fun. Also, in an earlier post, pretty sure it was pointed out that the down payment can be much lower than 20%. ALL the post was meant to say was that if you want to get the most appreciation of your money, moving often is the way to go.

Oh I know what you mean. I'm just saying. I'm keeping my house until it's paid off in 21 years. I'll be 53. I imagine I'll be able to refinance a few times in the mean time and hack a few more years off. The only way I'm moving again is if I can go back home.

[MattPie]

It's going to be sad if Wilson is good this game and then disappears for the next 20.

[Taro T]

It's going to be sad if Wilson is good this game and then disappears for the next 20.

Doubt it happens, but if things look like they're trending that way maybe they can get Rip to give him 3. ;)

[inkman]

It's going to be sad if Wilson is good this game and then disappears for the next 20.

Steve Bernier says hi

[LGR4GM]

Sounds like Wilson was pretty decent last night. 

[Eleven]

Well, the Scott Wilson thread sure took a turn!

 

We're trying to make it longer than the Colorado GDT.  

[Drunkard]

Oh I know what you mean. I'm just saying. I'm keeping my house until it's paid off in 21 years. I'll be 53. I imagine I'll be able to refinance a few times in the mean time and hack a few more years off. The only way I'm moving again is if I can go back home.

 

You shouldn't have to refinance in order to pay the house off any faster. You can just make additional payments that go directly toward principal only. Usually, the only time you want to refinance is when interest rates drop significantly, but they are pretty much near historic lows and have been for a decade so if you've bought your house in the last 10 years it's unlikely that you'll get a much lower rate.

[Eleven]

You shouldn't have to refinance in order to pay the house off any faster. You can just make additional payments that go directly toward principal only. Usually, the only time you want to refinance is when interest rates drop significantly, but they are pretty much near historic lows and have been for a decade so if you've bought your house in the last 10 years it's unlikely that you'll get a much lower rate.

 

Whoa there.  If you have, say, 50-100K that you could take out of your home right now, and put into virtually any other investment vehicle, it would be a smart move.

[Drunkard]

Whoa there.  If you have, say, 50-100K that you could take out of your home right now, and put into virtually any other investment vehicle, it would be a smart move.

 

In theory, I agree, but there's a metric ###### ton of risk associated with doing that. You could also sell your house and buy a ton of meth and heroin to sell for huge profits, but I wouldn't recommend doing that either.

 

The DOW and S&P 500 have both hit historic highs in 2017 and I expect there to be a market correction sometime in 2018. This is probably the worst time to put a ton of cash into the market all at once, especially when the market is at historic highs (buy low, sell high, don't buy when it's high).

 

Personally, I'm looking forward to the market tanking. I increased my 401k contribution from 3% to 5% in October (my employers matches on the first 5%) so I'm hoping to be able to buy up market share for cheaper when the market dips. Dollar cost averaging over time in low fee index funds has always been my preferred strategy.

Edited December 6, 2017 by Drunkard

[Eleven]

In theory, I agree, but there's a metric ###### ton of risk associated with doing that. You could also sell your house and buy a ton of meth and heroin to sell for huge profits, but I wouldn't recommend doing that either.

 

The DOW and S&P 500 have both hit historic highs in 2017 and I expect there to be a market correction sometime in 2018. This is probably the worst time to put a ton of cash into the market all at once, especially when the market is at historic highs (buy low, sell high, don't buy when it's high).

 

Personally, I'm looking forward to the market tanking. I increased my 401k contribution from 3% to 5% in October (my employers matches on the first 5%) so I'm hoping to be able to buy up market share for cheaper when the market dips. Dollar cost averaging over time in low fee index funds has always been my preferred strategy.

 

The domestic market likely will go down as it historically does a year or two after the GOP takes office.  (This isn't about politics.  Just the way it works.)  Still, bonds will be strong.  Foreign markets will be strong.  Currency will be strong.  Or take that money and buy a rental property.  Leaving it in your house, if you don't have to, seems like a bad idea.

[North Buffalo]

The domestic market likely will go down as it historically does a year or two after the GOP takes office.  (This isn't about politics.  Just the way it works.)  Still, bonds will be strong.  Foreign markets will be strong.  Currency will be strong.  Or take that money and buy a rental property.  Leaving it in your house, if you don't have to, seems like a bad idea.

Heard on Bloomberg they were predicting early 2019 correction so late 2018 sound about right.

[LGR4GM]

The domestic market likely will go down as it historically does a year or two after the GOP takes office.  (This isn't about politics.  Just the way it works.)  Still, bonds will be strong.  Foreign markets will be strong.  Currency will be strong.  Or take that money and buy a rental property.  Leaving it in your house, if you don't have to, seems like a bad idea.

So foreign markets it is. 

 

Also I am starting a thread. 

[darksabre]

Heard on Bloomberg they were predicting early 2019 correction so late 2018 sound about right.

So what do you guys think this means for home prices if I'm looking at buying right around that time? 

[North Buffalo]

Get pre-qualified and wait. Depends where... in DC it just goes flat rarely down, NYC some dowturn but from what.. housing is so expensive... it depends what sectors are effected most... but if I had to guess where the highest growth areas are will see the biggest effects.

[Doohickie]

It's going to be typical if Wilson is good this game and then disappears for the next 20.

 

fify

[SABRES 0311]

If only there was some entity or person whose job it was to keep threads on track.  Novel idea but much like the team, the wheels have fallen off this thread.  :wallbash:  :doh:

[Taro T]

If only there was some entity or person whose job it was to keep threads on track. Novel idea but much like the team, the wheels have fallen off this thread. :wallbash: :doh:

ONLY because the main topic of this thread got sidetracked to the investing thread. :angry:

 

We were trying to get this thread to be longer than the Avs game day thread AND we'd've gotten away with it if it wasn't for you meddling kids! And that durn cat too. :p

Edited December 8, 2017 by Taro T

[spndnchz]

If only there was some entity or person whose job it was to keep threads on track.  Novel idea but much like the team, the wheels have fallen off this thread.  :wallbash:  :doh:

;)

[LGR4GM]

Scott Wilson will have more points then Reinhart from here out. Discuss...