They are missing the point. It is NOT that they can't afford it, it is that they have to have a 40 or 50 year mortgage and then likely never realistically ever fully own the whole house. Criminally stupid people are buying $75k SUV and trucks that cost 25 -30 k ten years ago. Perpetual debt.
My buddy's 2006 Silverado is finally beyond the point of repair. He has a car but uses the truck for side jobs, but like he said it would be cheaper to quit the side jobs because they money they bring in wouldn't even pay for the truck payment. It's crazy when you think about it like that.
Maybe your buddy should sell both vehicles and buy a mini van.
My Dad traded his minvan in for a truck and regrets it because the minivan was lower and easier to get things into and out of. Also he liked that cargo was covered from rain with a "hard top". Dad swears that the minivan was better at hauling drywall, firewood, and kayaks.
I still haven't figured out if he's onto something or just nostalgic about our childhood van.
Gotta say I liked the chebby van I had for ten years. Not much good though if you need to haul sand or gravel or block, but having a trailer can take care of that. Have a truck now and it’s a pain in the ass in that tools and materials, or camping gear is susceptible to theft. I’d go back to a van now if I could afford it, they aren’t any cheaper than a truck. Talk’n full size though. Those old Astro vans were good work vans, had one of those for a few years too.
I can mention, but can you fit a sheet of plywood or drywall in one?
The reason you can't buy a 4-cyl, light, economical pickup truck that gets 40mpg is because "clean" government regulations demand they get 100 mpg for that "SIZE CLASS" or the manufacturer must pay a massive penalty ($20,000.00) for each vehicle sold.
Ford and GM therefore only make 8-cylinder beasts that are exempt from "SIZE CLASS" restrictions, which weigh 8 tons and get 20mpg, in order to save the planet.
What? A law with "unintended" consequences, never heard of such a thing.
Let's say you actually free your home from the wringing hands of the (((bank))), you still have the problem of the taxman.
If you can't qualify for a home until you're 30, then you have to take out a 40-50 year mortgage...that puts your (best case scenario) retirement age at 70-80 years old.
By that age it's physically difficult for you to maintain the property, so you'll probably have to sell/downsize before then anyways.
Nice how they set up a life of debt servitude for us.
Perpetual debt.
Indeed. One only has to look at the publicly stated function of the Federal Reserve to realize that we are hopelessly in debt, and cannot cover it.
Very simple
- The Federal Reserve Issues ALL MONEY.
- They issue that money AT INTEREST.
- Therefore, ALL MONEY is issued AT INTEREST.
- The Federal Reserve is demanding more money be paid back than all the money in existence.
This is why the founding fathers of the united states fought a war over King George III's Currency Act (analogous to the US Federal Reserve Act of 1913). They knew it was perpetual, inescapable, debt slavery.
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