> My Net Worth Is Approaching $1M! Thanks Trump!

Tom Leykis wrote:

ESPECIALLY when your home is in a Bog Village, In Fuqing Ill-Annoy, next to multiple continental rail lines, below MEGA voltage transmission lines, in a test range for airliner to ground radar systems, above highly toxic high pressure pipelines, BUT with a beautiful gravel pit State Park on the other side of all the hazardous waste.    And a street sweeper factory across from the front yard.

Lay off, Tom. This is bullying.

Tom Leykis wrote:

Did I say ANYTHING that wasn't 100% TRUE?   Remember, we're strictly discussing economics here, so mind your manners.

Yes. You told numerous lies.

That makes sense.

You’re a liar.

wrote:

Imagine having worked high paying IT jobs and hitting your 50s with only $1mm.

And then thinking it is a flex



Though you're probably not going to live for too much longer being as obese as you are.

No flex. I made no statement as to good or bad.

wrote:

OK, you're confused as fuq.

For you to break even in "real terms," you'd need to sell the house for more than cumulative inflation. Perhaps $750k if you sold it tomorrow. That is not going to happen. If you are talking about selling at $575k, those are "nominal" terms, not real.

Then saying you profited by avoiding rent is moronic. You've paid more than two hundred thousand in property tax over the last 21 years. Closing costs. You've paid over $200,000 in interest expenses on your mortgages, too. Your “avoided rent” is not profit — at best it’s the yield on your housing investment — but with these numbers, you have essentially zero yield.

Just three unavoidable expenses you have sunk into this financial disaster, and these are conservative estimates:

Mortgage interest alone: ~$230,000

Taxes: ~$250,000

Insurance: ~$36,000

That's before we get to maintenance, utilities and opportunity cost.

'It's practically free!'
\

Those are definitely part of the equation. I still come out on top.

There is no “cumulative” inflation separate from just “inflation.” The number is cumulative by nature. So you simply look at what I paid in 2005, apply the CPI to it, and then use that number. Which is $703k.

Again, the house was never purchased as an investment and everyone who purchased similar homes in that time is in a similar situation today. It was just how the dice landed.

No biggie.