Who's M3 rich and house poor - cost of car / value of home?

davesaddiction · 08-09-2012, 05:15 PM

Quote:

Originally Posted by LarThaL

This really isn't a valid poll. The cost of the car is basically fixed across the country. The price of real estate varies hugely. A $300k property in Okalahoma will cost $8 million in Manhattan.

Yeah, I get that, but $1 = $1.

Everyone has different circumstances, family situations & priorities. If we lived in Manhattan, making the money we make here, we'd obviously still be renting.

But doubt if I could have made my M happen, either...

There are some benefits to living in middle America!

davesaddiction · 08-09-2012, 05:22 PM

Quote:

Originally Posted by Transfer

Anything greater than 20% is riff raff.

Love it. That thread was so hilarious...

If you believe today's price on Zillow, I'm there, just.

smmmurf · 08-09-2012, 05:22 PM

live in my m3... lol

M3PO · 08-09-2012, 05:29 PM

There's lots of tiny (~1000 sqft) ranch style houses in La Jolla with Porsche turbos in the driveway and their cars are ~10% the value of their house. There's lot's 5000 sqft mansions in Idaho where I grew up with M3s that are ~20% of the value of their home.

Brand new, my M3 would be about 18% of the value of my place. I paid more like 11%. Does that make me riff raff (bought it cheap) or not (but less than 20%)? Hmmm...

LarThaL · 08-09-2012, 06:27 PM

Quote:

Originally Posted by davesaddiction

Yeah, I get that, but $1 = $1.

Everyone has different circumstances, family situations & priorities. If we lived in Manhattan, making the money we make here, we'd obviously still be renting.

But doubt if I could have made my M happen, either...

There are some benefits to living in middle America!

Well...we took our annual two week summer vacation last month. Drove two hours to our beach house. Spent 4 days there. Then drove another 3 hours deep into the woods of Maine and spend 3 days whitewater rafting. Drove back to the beach for 5 days. Then drove home for a day. The following day we drove 2.5 hours and spent 2 days in New York City to wrap everything up.

Beach, mountains, city....all in two weeks, and all within easy driving distance. That's why I live where I do !!

the_road_less_traveled · 08-09-2012, 06:28 PM

No my penis is bigger.

mdosu · 08-09-2012, 06:37 PM

what if I rent in a housing market where average home prices are over $2 million? I will basically be dividing my zero.

LarThaL · 08-09-2012, 06:38 PM

Quote:

Originally Posted by xfirer1guy

No my penis is bigger.

That explains all the wrist pain you have been experiencing.

Sorry.....couldn't resist

mdosu · 08-09-2012, 06:45 PM

OP, the better gauge would be an owner's income. (please do not post this type of thread, it's been beaten to death).

On a separate note, if near 100% of your net worth is in your house, you don't need me to tell you that that's pretty foolish. It's like putting your full net worth in Google stock or something...not everything will keep increasing in value. Case in point 2008...

LarThaL · 08-09-2012, 07:08 PM

Quote:

Originally Posted by Team Plutonium

I give this thread a solid '3' for effort.

Well, we could discuss exhausts. Oh wait, that has been discussed a million times already.

We could discuss superchargers. Oh wait, those have been discussed a million times already.

We could discuss tires. Oh wait, that has been discussed a million times already.

Rich_Jenkins · 08-09-2012, 07:15 PM

No house. No loans. Condo Apartment.

Gave up the 4/3 pool 3-car garage house two years ago.

Loving it.

Darth One · 08-09-2012, 07:18 PM

everyone who posts in this thread is riff raff.

oh, woops!

JulieDriving · 08-09-2012, 07:21 PM

I thought this thread was about how much of your assets are in your car (which will always be steadily decreasing, even if you own it outright) versus your home.

Might be a more interesting analysis.

Price of house might not be reliable. As mentioned already, housing values fluctuate widely depending on location, and people could have a very expensive house but be mortgaged to the hilt such that they really have no asset in their home.

IFX · 08-09-2012, 07:53 PM

I wish we had more serious replies, I think OP could have titled the thread better.

I'd like to hear from guys who want to live the simple life. A nice sized (3/3) house/condo in a decent area.. and a nice car. I feel this is the way I would like it to be.. I'd be satisfied.

I honestly couldn't see myself going crazy on a house.. It doesn't do much for me. But i'd certainly need my toys.

LarThaL · 08-09-2012, 08:24 PM

Quote:

Originally Posted by IFX

I wish we had more serious replies, I think OP could have titled the thread better.

I'd like to hear from guys who want to live the simple life. A nice sized (3/3) house/condo in a decent area.. and a nice car. I feel this is the way I would like it to be.. I'd be satisfied.

I honestly couldn't see myself going crazy on a house.. It doesn't do much for me. But i'd certainly need my toys.

An M3 does not a simple life make. A Honda Civic or Accord is all the transportation tool anybody needs. Maybe a Subaru if you live in snow country.

DiavelM3 · 08-09-2012, 08:56 PM

My old friend who was an auto broker told me he sold about 4 cars (2 Porsche's, a vintage Mercedes and vintage BMW) to this guy who has an 800 Sq. foot house.
He has a 6 car garage

docsdoc · 08-09-2012, 10:27 PM

Quote:

Originally Posted by mdosu

OP, the better gauge would be an owner's income. (please do not post this type of thread, it's been beaten to death).

On a separate note, if near 100% of your net worth is in your house, you don't need me to tell you that that's pretty foolish. It's like putting your full net worth in Google stock or something...not everything will keep increasing in value. Case in point 2008...

How about a poll of ratio of gold owned / M3 cost...

davesaddiction · 08-09-2012, 11:26 PM

Quote:

Originally Posted by IFX

I wish we had more serious replies, I think OP could have titled the thread better.

I'd like to hear from guys who want to live the simple life. A nice sized (3/3) house/condo in a decent area.. and a nice car. I feel this is the way I would like it to be.. I'd be satisfied.

I honestly couldn't see myself going crazy on a house.. It doesn't do much for me. But i'd certainly need my toys.

Honestly, with two kiddos (and one on the way), it felt like a stretch to buy my M. It really is a dream car for me, and cost more than I thought I'd be willing to spend on a car at this point in my life (one test drive convinced me otherwise).

I was just interested how my situation compared with others'. I could care less how much anyone in here makes or how they decide to spend what they have. What's cool is that we all love driving and cars and welcome everyone (even the riff raff!).

The poll is a pretty cool way to see how broad the M3s appeal is, from guys who can drop $$$$$ on a 458 and mod theirs w/o limits to those who have to wait and finally find a way to make one of these beautiful beasts theirs.

Respect to all.

m3an · 08-09-2012, 11:39 PM

the real Q should be for the guys who spend tons on mods (superchargers etc); that could prob afford to daily 458s and gt3 but drop stupid money on an M. Where do they live?

pharmdphd98 · 08-10-2012, 12:52 AM

The real question is how many people here would dump their M3s for the GTR if the latter is the same price or a little more, say 5K more.

NotQuiteRight · 08-10-2012, 01:12 AM

Quote:

Originally Posted by pharmdphd98

The real question is how many people here would dump their M3s for the GTR if the latter is the same price or a little more, say 5K more.

No way in hell!!

To the OP I'm about 10% but the market in Cali right now is shit

ailikesiliu · 08-10-2012, 01:48 AM

I live in my car

View Poll Results: Cost of car / value of home?
< 1% - I live in HK/Dubai/Lichtenstein, perhaps you've seen my collection.	12	5.13%
1% - 5%	30	12.82%
> 5%	40	17.09%
> 10%	69	29.49%
> 20%	43	18.38%
> 30%	13	5.56%
> 40%	6	2.56%
> 50%	5	2.14%
> 75%	1	0.43%
> 100% - Gotta have priorities...	15	6.41%
Voters: 234. You may not vote on this poll

08-09-2012, 05:22 PM	#25
smmmurf Colonel 310 Rep 2,189 Posts Drives: E92 M3 DCT 353k+ miles Join Date: Feb 2008 Location: Half Moon Bay, CA iTrader: (7)	live in my m3... lol
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08-09-2012, 05:29 PM	#26
M3PO Colonel 84 Rep 2,792 Posts Drives: '08 IB E92 Join Date: Sep 2011 Location: OC iTrader: (7)	There's lots of tiny (~1000 sqft) ranch style houses in La Jolla with Porsche turbos in the driveway and their cars are ~10% the value of their house. There's lot's 5000 sqft mansions in Idaho where I grew up with M3s that are ~20% of the value of their home. Brand new, my M3 would be about 18% of the value of my place. I paid more like 11%. Does that make me riff raff (bought it cheap) or not (but less than 20%)? Hmmm... __________________ 2008 IB E92 M3\| BBS \| KW \| Arkym \| Platte Forme A.G. \| Active Autowerke \| K&N \| Fabspeed \| Dinan \| Evolve-R
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08-09-2012, 06:28 PM	#28
the_road_less_traveled Id rather be boating... 67 Rep 1,097 Posts Drives: Baja 26 Outlaw Join Date: May 2012 Location: the lake iTrader: (3)	No my penis is bigger.
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08-09-2012, 06:37 PM	#29
mdosu Banned 314 Rep 8,496 Posts Drives: Double Vanos'd Civic-M3 Join Date: Oct 2009 Location: San Francisco iTrader: (6)	what if I rent in a housing market where average home prices are over $2 million? I will basically be dividing my zero.
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08-09-2012, 06:45 PM	#31
mdosu Banned 314 Rep 8,496 Posts Drives: Double Vanos'd Civic-M3 Join Date: Oct 2009 Location: San Francisco iTrader: (6)	OP, the better gauge would be an owner's income. (please do not post this type of thread, it's been beaten to death). On a separate note, if near 100% of your net worth is in your house, you don't need me to tell you that that's pretty foolish. It's like putting your full net worth in Google stock or something...not everything will keep increasing in value. Case in point 2008...
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08-09-2012, 07:15 PM	#33
Rich_Jenkins Riff Raff Refugee 23 Rep 626 Posts Drives: Ram 1500 Join Date: Mar 2012 Location: Sarasota FL iTrader: (1)	No house. No loans. Condo Apartment. Gave up the 4/3 pool 3-car garage house two years ago. Loving it. __________________ Character does count. For too long we have gotten by in a society that says the only thing right is to get by and the only thing wrong is to get caught. Character is doing what's right when nobody is looking... " --J. C. Watts
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08-09-2012, 07:18 PM	#34
Darth One drunk poster 6613 Rep 3,649 Posts Drives: M4 GTS \| E46 M3 Join Date: Jul 2008 Location: FL iTrader: (0)	everyone who posts in this thread is riff raff. oh, woops!
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08-09-2012, 07:21 PM	#35
JulieDriving Female driving enthusiast :P 76 Rep 2,308 Posts Drives: Bimmer Join Date: Nov 2009 Location: Ontario, Canada iTrader: (0) Garage List 2013 BMW M3 Coupe [10.00]	I thought this thread was about how much of your assets are in your car (which will always be steadily decreasing, even if you own it outright) versus your home. Might be a more interesting analysis. Price of house might not be reliable. As mentioned already, housing values fluctuate widely depending on location, and people could have a very expensive house but be mortgaged to the hilt such that they really have no asset in their home. __________________ 2013 M3 coupe (Azurite Black, Black, Piano Black) + miata nut (2 miatas) + Mk6 GTI 5-door hatch (our mini-SUV )
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08-09-2012, 07:53 PM	#36
IFX Banned 67 Rep 2,536 Posts Drives: AW e46M/N54 Join Date: Jan 2009 Location: South Fla. iTrader: (1)	I wish we had more serious replies, I think OP could have titled the thread better. I'd like to hear from guys who want to live the simple life. A nice sized (3/3) house/condo in a decent area.. and a nice car. I feel this is the way I would like it to be.. I'd be satisfied. I honestly couldn't see myself going crazy on a house.. It doesn't do much for me. But i'd certainly need my toys.
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08-09-2012, 08:56 PM	#38
DiavelM3 4 Star General -Twilight Zone 36 Rep 1,032 Posts Drives: '11 E92 M3 ZCP Join Date: Jan 2011 Location: 5280 iTrader: (1)	My old friend who was an auto broker told me he sold about 4 cars (2 Porsche's, a vintage Mercedes and vintage BMW) to this guy who has an 800 Sq. foot house. He has a 6 car garage __________________ '12 Ducati Diavel '06 E46 M3 (sold) \| '97 325is - Dinan (sold) '02 Z3 3.0 coupe (sold) Past - '84 Ferrari 308 GTSI \| '88 Ferrari 328 GTS \| '05 Dodge Viper Copperhead Edition #180/300 \| Audi S4
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08-09-2012, 11:39 PM	#41
m3an Banned 39 Rep 1,590 Posts Drives: M3 Join Date: Oct 2010 Location: South Florida iTrader: (2)	the real Q should be for the guys who spend tons on mods (superchargers etc); that could prob afford to daily 458s and gt3 but drop stupid money on an M. Where do they live?
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08-10-2012, 12:52 AM	#42
pharmdphd98 PharM3 18 Rep 295 Posts Drives: 2010 E92 M3 Join Date: Nov 2011 Location: CA iTrader: (0)	The real question is how many people here would dump their M3s for the GTR if the latter is the same price or a little more, say 5K more.
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08-10-2012, 01:48 AM	#44
ailikesiliu Captain 80 Rep 998 Posts Drives: e90m3 997.2gt3rs Join Date: Nov 2011 Location: Vancouver, BC iTrader: (8)	I live in my car
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