[norbar]

dunno what the housing market is like there, but in the US, there is a ridiculous opportunity for immediate equity if you buy a short-sale or foreclosure, AND if you have 20% down(critical, PMI is a no-no) and great credit. you would have to literally be retarded to NOT buy a first home now, or in the past 1-2 years.

yeah I don't think the housing market was hit so hard in europe. Even with unemployment on the rise in countries like spain people still keep their houses. Not to mention when I hear the time it takes to pay off a house in the us I'm surprised. Still in Poland the avg. pay is 1k$/month and a 60m2 flat like mine 15-20km from the city center is worth around 120k$. Do the math.
Though overall I don't like obligations that tie you down for longer periods of time. In the current job market mobility is an important thing to have.

 

[William42]

You should see if you can talk to the guys down at the docks who will cash your checks for you for just 20%. I think they also do next day loans in case you have some bills to pay. They can probably help you out.

 

[marshalolson]

pay is 1k$/month and a 60m2 flat like mine 15-20km from the city center is worth around 120k$. Do the math.

that debt to income ratio is no bueno! rent that buddy!

 

[stoney]

dunno what the housing market is like there, but in the US, there is a ridiculous opportunity for immediate equity if you buy a short-sale or foreclosure, AND if you have 20% down(critical, PMI is a no-no) and great credit. you would have to literally be retarded to NOT buy a first home now, or in the past 1-2 years.

You can buy a home with <20% and avoid ammortized PMI by just paying it down up front. PMI on my mtge would have added $28k to the life of the loan. I paid $6k up front to make it be gone. Yeah it's 6k up front, but a whole hell of a lot better than an amortized amount.

 

[norbar]

that debt to income ratio is no bueno! rent that buddy!

Fortunately my family invested in the flat when it was worth half the money and it is mine. Still I invested a ton of work to finish it and as much as I like it owning it is the only reason I didn't move to the city center which if I ever again get a 9-5 job would save me 2h/day.

 

[Biffff]

Demo 8 II's retail for $6500, which makes this scenario above worse. Save untill you have the cash, or buy a cheaper bike......used or new.

 

[Da Peach]

$2500 will buy you a very nice used bike.

The "save for whistler" advice is good too.

Or for some other such trip...

 

[poekie]

I thought the economy just crashed because of bs like this..let that stupid kid find out the hard way so he doesn't make the same mistake buying a house or car.

 

[OffCamber]

You can buy a home with <20% and avoid ammortized PMI by just paying it down up front. PMI on my mtge would have added $28k to the life of the loan. I paid $6k up front to make it be gone. Yeah it's 6k up front, but a whole hell of a lot better than an amortized amount.

Should have bought a Demo But seriously, I found a nice 2010 Demo 1 for under $2,000. Buy used.