Welcome to the IHoP

[dem beats 1,223]

Looking at ~$325k for a decent sized home (900-1100 sq. ft.) in an area where you feel safe.

I've been looking at 2200+ square foot homes for the 200K range. They are beat up on forclosure, or bank owned but the purchase price is sometimes as low as 160. 40K in materials and labor I can't do is more than enough in most cases too.

[Acidburn 10]

GM Market Share May Fall Below Milepost

Breach of 20% Level

Is Likely in the U.S.

As Truck Sales Drop

By NEAL E. BOUDETTE

June 2, 2008; Page B3

DETROIT -- The rapid decline in truck sales in the last month has pushed General Motors Corp. to the brink of a once-unimaginable trough: Its U.S. market share could fall below 20% on Tuesday when the auto industry reports vehicle sales for May.

Sales of pickup trucks and big sport-utility vehicles -- Detroit's bread-and-butter products -- have been falling for the past few years, pulled down by the slumping economy, falling home values and rising gasoline prices. But the declines accelerated this year and showed an unexpectedly steep drop in May, as gasoline prices reached $4 a gallon in many parts of the country.

That forced GM and Ford Motor Co. to slash truck production in the second half of the year. Ford also gave up its goal of returning to profitability in 2009 and has begun preparing to cut 2,000 white-collar jobs.

Amid all the bad news, GM's dwindling market share had been largely overlooked. It hit a record low of 20.5% in April, according to Autodata Corp. Given the direction of truck sales, GM is likely to report a drop in May sales large enough to pull its share below 20%.

"That could happen very easily," said Ron Pinelli, president of Autodata, a market researcher based in Woodcliff Lake, N.J. "For all of the domestic manufacturers, the prognosis is not good."

A GM spokesman, John McDonald, declined to comment. "I can't speculate on what May sales might be," he said.

A spurt in sales in the final days in May could still hold GM above 20%, but reports from the field are grim. In Bordentown, N.J., Bob Maguire Chevrolet has about 90 trucks sitting in inventory. Some have been there more than 200 days, an eternity by industry standards. "I don't think it could get any worse," said Michael Maguire, the manager of the family-owned store.

Even if GM keeps its share above 20%, its declining position reflects a new competitive landscape in the U.S. In April, rival Toyota Motor Co. had U.S. market share of 17.4% -- a record for the company. May's sales totals could put Toyota within two or three percentage points of GM, with the market's trend favoring Toyota.

"Fuel prices will most affect the domestic manufacturers because of their heavy reliance on trucks," Mr. Pinelli said.

Toyota has already pulled even with GM in global vehicle sales. In the U.S., GM once dominated, selling half of all the new cars Americans bought. A decade ago, GM executives wore pins with the number 29, signifying their determination to hold share at 29%. In 2006, after a major overhaul of its pricing strategy, GM thought it had stabilized its share at 24%.

Ford, meanwhile, has traditionally had the top-selling U.S. model in its F-150 pickup, but the Toyota Camry is now nearly even in sales and could move ahead in May. It would be the first time the Camry outsold the F-150, according to Autodata.

Chrysler LLC, which lost the No. 3 spot in the U.S. market to Toyota years ago, could fall to No. 5 in May if its deep sales declines continue and Honda Motor Co. books a strong month.

[KU40 173]

my student loan repayments start this month, it's time to either start applying to grad schools.

mine start next month

[ANeonRider 3]

Looking at ~$325k for a decent sized home (900-1100 sq. ft.) in an area where you feel safe.

I've been looking at 2200+ square foot homes for the 200K range. They are beat up on forclosure, or bank owned but the purchase price is sometimes as low as 160. 40K in materials and labor I can't do is more than enough in most cases too.

2200 sq ft would cost around 650-700k here

Our housing market is doing the opposite of what it is down there though. Average house price was 150k three years ago, now its 325k.

[dem beats 1,223]

that's a huge boom sounds like us 5-6 years ago

[///M5 2,833]

I've been trying to figure up if renting an apartment until I can or can nearly afford to pay straight cash for a house is a good idea. Just because if you get a 30 year loan on a 200,000 dollar house, it'll end up costing you like 375,000 with interest once it's all said and done. 15 year loans are obviously better, I think it would only work out to be like 300,000 with interest, but obviously your payments are higher. and I hate interest. and making payments on a debt. Interest rates are pretty low right now so that idea may not work, but I bet if our economy picks up and gets the interest rates back to where they were a couple years ago it might make sense.

Though when you figure this out you can't just say "I'll save this much every month, add that to my total" because you *should* be putting that money into some kind of investment. If you have 200,000 saved and have something that gives you even 5%, that's 10,000 a year in interest. So it could up your saved amount pretty quickly. Sure you probably wouldn't have a house for 10 years, but you then wouldn't have to pay it off into your 50's.

Don't forget that on average houses double in price every 10 years so if you don't spend it now you will later anyways. The best time to buy a house is as soon as possible. Add to that the inflation of 3% nearly equals the 5.5% of interest you will have to pay.

And of course, the real kicker interest income is deductible. If you aren't itemizing on your taxes you are getting screwed by the government.

And the morale is, buy a damn house you like and drive a bucket. It will make you happy everyday for the rest of your life instead of the next couple of years.

[2kchevy 3]

I wish I even HAD the money for a house :laugh:

[dem beats 1,223]

damn your logic and sense Sean!

You and your trying to give people good advice..

what an a$$ hole.

[vladd 26]

w00t just got a call from the company i was hoping for, i have an interview thursday!

any pointers? i've never interviewed for a real job before, just jobs where i knew they needed me more than i needed them.

[vladd 26]

a house is second on my to-buy list as soon as i get income, always has been. like it or not you'll never have anything if you don't have your house.

[///M5 2,833]

And don't ever, ever, ever get more than 48 months on a loan. Realistically 36 months is what you should look at but that would put you at $1791.

Yes, I realize that a loan might not be in your cards but whether you spend it up front or you spend it over time it is still the same money. At 5% the interest is on average $1500 a year so it isn't that much of it anyways. The opportunity cost is what will burn you.

Realize that the $60k you have into the Caddy (plus maintenance) will only be worth $25k after 3 years and on a four year loan that doesn't mean you will get much back when you sell.

If you want a nice car, get an older one as a second car that doesn't depreciate and an efficient daily driver. First and foremost get a house that will grow with you both in location as well as financially.

I like your version of math1

It makes me all excited.

However I was just going to buy the car with cash.

lol

Comment still holds as the interest isn't the big expense in the car, owning it is. Use your cash for something else.

[///M5 2,833]

w00t just got a call from the company i was hoping for, i have an interview thursday!

any pointers? i've never interviewed for a real job before, just jobs where i knew they needed me more than i needed them.

Pointer #1. You interview them, they don't interview you.

[Acidburn 10]

a house is second on my to-buy list as soon as i get income, always has been. like it or not you'll never have anything if you don't have your house.

what's the first?

[///M5 2,833]

I am curious as well.

[dem beats 1,223]

mail order bride is #1!

[Adrian_D 520]

Looking at ~$325k for a decent sized home (900-1100 sq. ft.) in an area where you feel safe.

I've been looking at 2200+ square foot homes for the 200K range. They are beat up on forclosure, or bank owned but the purchase price is sometimes as low as 160. 40K in materials and labor I can't do is more than enough in most cases too.

Even comparing to what we have here, it's an awesome price.

Shit, an ~700 sqft appartment is in the 150k range over here

[vladd 26]

#1 is a cheap motorcycle. i'm talking $2-$3k.

[///M5 2,833]

Mine's cheaper

[///M5 2,833]

And will be for sale by tomorrow.

[///M5 2,833]

Not that you care, but someone ought to with the price of gas.

Not sure what to ask actually:

1982 Honda CB750k, 8200mi

Has a fairing, but I also have all the gear to remove it.

Updates:

New tires, sprocket chain, battery, carbs cleaned 300mi ago.

$800 should make it go fast, but can I get more?

[Adrian_D 520]

Not that you care, but someone ought to with the price of gas.

Not sure what to ask actually:

1982 Honda CB750k, 8200mi

Has a fairing, but I also have all the gear to remove it.

Updates:

New tires, sprocket chain, battery, carbs cleaned 300mi ago.

$800 should make it go fast, but can I get more?

I want.

Shipping weight ? :lol2::lol2:

[vladd 26]

no shit, make a trip out to VA with it and i'll definitely pick it up, actually if you'd be willing to work with shipping i still might be interested.

[KU40 173]

Don't forget that on average houses double in price every 10 years so if you don't spend it now you will later anyways. The best time to buy a house is as soon as possible. Add to that the inflation of 3% nearly equals the 5.5% of interest you will have to pay.

And of course, the real kicker interest income is deductible. If you aren't itemizing on your taxes you are getting screwed by the government.

And the morale is, buy a damn house you like and drive a bucket. It will make you happy everyday for the rest of your life instead of the next couple of years.

good point, I hadn't thought of that. Damn, looks like I'll be in more debt. ha. I plan on driving my Explorer until the wheels fall off twice (I'll probably fix them the first time). I think as you grow out of your teens and into your 20's your priorities change. As a teenager in high school, owning a car is the coolest thing, because really that's about all you can own since you live at home typically. Then once you get out of college (or work a few years if you don't go to college), you realize cars aren't all that and realize that a house is not only a cooler thing to own but makes more financial sense. I mean I LIVE in my house, but drive my car to the grocery store and work. Seems obvious which one should demand more attention.

[vladd 26]

....wow

http://thekneeslider.com/archives/2007/07/...twin-completed/

[///M5 2,833]

no shit, make a trip out to VA with it and i'll definitely pick it up, actually if you'd be willing to work with shipping i still might be interested.

Not quite sure how cost effective shipping would be but I am all ears.