Tell me if my friends are idiots, or I'm the idiot?

[Flipx99 5,000+ posts]

You're weird though.Even when given enough money to buy superior goods, you resort to inferior ones...

Like Steak Vs. Ramen (even though Ramen is the shiz)

I require a higher margin of safety, yes.

 

[Fiercetimbo17 10+ year member]

Wow 2 college degrees and they only made $2 more an hour combined than I did installing car audio..maybe i should drop out of college...

 

[tommyk90 5,000+ posts]

I still do not see how any of you can honestly think for a second that $50k in income can afford a $290k house.
Even if you put the full $50k down, they can't afford a $240k house

If they got second full time jobs, they could probably scrape by. I wouldn't sell them a house more than $120-$130k.

Agreed.

What bank would give such a huge loan out to two people making barely more than minimum wage?

And this, my friends, is why the housing and financial markets are in the shitter right now.

"Live within your means" just doesn't exist anymore.

 

[ThatChevyGuy 5,000+ posts]

i would def rent an apartment and be bankin son!

 

[IamDeMan 5,000+ posts]

A bachelors in psych is just about worthless if you plan to stay in the field. She should be thinking about a Masters, Ph.D, or Psy.D

W3rd. Fancy toilet paper.

Wow 2 college degrees and they only made $2 more an hour combined than I did installing car audio..maybe i should drop out of college...

Degrees don't equal money //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif

 

[MrMckie 10+ year member]

hey op,

tell your friends to move back in with their parents and stack up...tell dude he needs to get a stable job in is field first as construction may not be the best place to be right now..look how many half finshed construction ptojects are out there..

 

[Chevillac 5,000+ posts]

Wow 2 college degrees and they only made $2 more an hour combined than I did installing car audio..maybe i should drop out of college...

its a recession.

And yeah, i made more than them at the warehouse jobs I had last year and the year before. No degree. Just depends on the job and company I guess.

Agreed.
What bank would give such a huge loan out to two people making barely more than minimum wage?

And this, my friends, is why the housing and financial markets are in the shitter right now.

"Live within your means" just doesn't exist anymore.

heard this a lot in the past year or so.

 

[undeadxsunshine 10+ year member]

If they aren't married, then I think it is just one stupid idea from the get go unless only one of them plans on sole ownership. If they were married then it could be a good move or it could be stupid.

^ that

 

[Dj Arr 10+ year member]

I say flip is mostly right here.

overall it doesn't matter what they're approved for or what they want. They're only good for 130k. Over 30 years, if that.

Because it costs money to live too.

 

[shaneb 10+ year member]

2,900 dollars a month mortgage is no bueno at that age.

they should get out now. while they still have a chance.

that will ruin their relationship.

 

[Dj Arr 10+ year member]

2,900 dollars a month mortgage is no bueno at that age.they should get out now. while they still have a chance.

that will ruin their relationship.

true that.

 

[WillyG4444 10+ year member]

280k for a 2 bedroom unfinished house? **** yeah they are stupid

This is in Bergen County, NJ not Florida. Houses are a lot more expensive here

 

[WillyG4444 10+ year member]

Oh and I find it funny that in the first and a half pages I was called an idiot, and now people are seeing why I think it's stupid with their income //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif ... I'll report back when I hear from them in a couple days letting me know if their bid was accepted lol

 

[IamDeMan 5,000+ posts]

Oh and I find it funny that in the first and a half pages I was called an idiot, and now people are seeing why I think it's stupid with their income //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif ... I'll report back when I hear from them in a couple days letting me know if their bid was accepted lol

Oh no, not here. I siad it could or couldn't and that it was stupid period if they werent married. Then I reaffirmed that you are indeed an idiot. You being an idiot just has nothing to do with whether they should or shouldn't.

 

[Banana Balls 5,000+ posts]

So, two of my friends, a couple, are both out of college (Fall '08 and Spring '08 graduated) and the girl has a bachelor's in psychology, while the guy has a bachelor's in web design. The girl is making 14/hr working at the front desk of a psych center working about 45 hours a week, and the guy is working with his father in construction making 10/hr AT BEST, working 30-40 hours a week depending on the business, paid under the books. They're both 23 years old.
bThe girl has a trust fund with a bunch of money, (Maybe 50k?)

I was able to stop reading there. You're the idiot. 50K is not a bunch of money.