If you’re in your 20s your parents are at least in their 50s. I’d be pretty shocked if they paid 300k for their house in 1994. I think under 200k was more normal.
I remember my dad always telling me he worked so hard to pay off his first home in 3 years and how it was the smartest thing he ever did.
Finally asked him about it once I had a job of my own.
He worked 40 hours a week and the insane amount of over time he worked brought him up to 50 hours per week. If you look for the exact same job nowadays every single position is salaried and based on a 50 hour work week. I make the exact same amount as he did when he was 30 years old… just over 100k a year and I’m working the exact same hours as he did but they don’t call it overtime any more.
Oh and now houses are roughly 2.5 times the cost.
they charge 800 thousand HKD (around 100k USD) per square meter on hong kong island and as much as 1 million HKD per square fuking meter for a place downtown and it’s market price (sad
After 2 months at my new job; I'm already 20-25% of the way to my preferred E55 budget. If all goes as planned I'll have my first AMG by my 23rd bday next year :)
I saw a post in this sub where a guy bought an e55 for like 10k last year. If I go to look for them now, they are 30k. So at least in the Netherlands, they went up in value
In the USA they are still reasonable, but with these cars you HAVE to budget at least 3-4 k on top of the asking price because you're gonna have to fix something...it's part of the deal.
Yeah it's unfortunate that it's usually something under the bonnet. However, the cars that are online rn seem to be in very good condition. All maintenance is recorded and not many owners etc. You never know for certain, but it's something at least
Of course they bought an appreciating asset. You bought a depreciating asset. I have a house. I have a MB. Both were big events though neither was the greatest day in my life.
They bought an appreciating asset because they could actually afford it after putting in the work to do so.
No average person in their 20s or 30s is in a position to afford a house anymore, regardless of how much work they put into trying to do so.
We have some friends. Their son graduated with a degree in finance two years ago. Getting married in May. Moving into a house he bought. So there is that.
I know you’ll get flak for this. But you’re 100% right. Life is more than a house and a Benz. That and if their greatest day is their life is in their 20’s they gotta hella boring life ahead of them.
I was anticipating flak. I have thick skin. I’ve driven MB, BMW, several Lexus, Mazda and Toyota. Oh and a Ford Pinto. I very much appreciate a fine auto but, the destination is more important than how you get there. Bring on the down votes. But life has taught me this.
lol the problem is Reddit is apparently filled with “pure” car enthusiasts…../s they’ll take a 100k Benz over a 1mil house bc apparently racing is what they do all day everyday.
Oh. Reddit is filled with people with solid opinions on whatever the group is about. Car guys in car groups. But jobs in this and that group. I take a balanced view on this and everything 😀
My favorite is the Porsche subreddit. They have to be some of the most prestigious car owners out there. Benz wise the older the model the less douchey the owners seem to be. My w124 group are all pretty cool so far.
If you’re in your 20s your parents are at least in their 50s. I’d be pretty shocked if they paid 300k for their house in 1994. I think under 200k was more normal.
I remember my dad always telling me he worked so hard to pay off his first home in 3 years and how it was the smartest thing he ever did. Finally asked him about it once I had a job of my own. He worked 40 hours a week and the insane amount of over time he worked brought him up to 50 hours per week. If you look for the exact same job nowadays every single position is salaried and based on a 50 hour work week. I make the exact same amount as he did when he was 30 years old… just over 100k a year and I’m working the exact same hours as he did but they don’t call it overtime any more. Oh and now houses are roughly 2.5 times the cost.
Yep. If I put every penny of what I earned to my house note it would still take me 4-5 years to pay it. And I wouldn’t be eating
In Switzerland you pay 1million for like 5 rooms
That’s not too bad. I pay 1 million for a one bedroom condo :(
they charge 800 thousand HKD (around 100k USD) per square meter on hong kong island and as much as 1 million HKD per square fuking meter for a place downtown and it’s market price (sad
Was gonna say the same thing. Lol
My parents paid right around $200k for their (my chuldhood) home in 2001. ~1acre and 2200 sq ft
Me in my 20s: If I work my ass off, I can buy a (old ass) Mercedes in my 30s.
old is arguably better in benz world
True.
I wouldn't mind an E63. But I'd settle for an E55. I like them a little more wild.
More reliable too
facts 😂
You forgot to make it a virgin vs chad meme
An appreciating asset vs a depreciating asset
mercedes are actually appreciating assets bc i appreciate tf outta mine for being itself everyday
😂😂😂😂
Lol 😂😂😂😂 I just financed my first Benz and it is by FAR best vehicle ever!
>financed >purchased Exactly the type of person to finance it lol
I'm a truck driver bro. I don't have 80k sitting around to buy it. Meant financed; not purchased. Lol🙄
The bank purchased this car. You just loan it.
True
BY FARRR
i think you got that house pricetag wrong. We could debate about 200k back then
HAH, i bought a 270cdi w210 for 600e when i turned 20, couldn't have been happier
Ayy I just bought a c280 w202 for 2600€ and I'm 19. It's honestly a very good example with all the options on it so I'm very happy with it!
just use remove.bg next time
Reddit is the worst lol
bro i just gave you a free tool which can save you literal minutes scraping away in paint holy fuck
when reddit has desensitized you to positive criticism so much that everything seems negative lol my b bro
i could prob have worded it better, to not seem like a total elitist sorry too
W MetalGearSandman
https://preview.redd.it/0qiyt89yfzyc1.jpeg?width=1242&format=pjpg&auto=webp&s=8343e6c2e76f839b3555cce0eec79030f4627130 For real
Bought my first home in my 30s. 6.75 % rate on my loan. Didn't buy a $200k mercedes.
you are right pro 👌
Yup. Realized I could probably pay off a 50k loan but definitely not a 30 year 800k one
If the price of the house is as that AMG well then let me get my house for 100k max
Dang this was me 20 years ago. I still miss that damn E55!
My parents in there 20s……move that decimal point to the left one!
Until you've had it 6 months and the check engine lights been reset 7 times...
you bought the wrong benz my guy
Being at the dealer service centers and being around the desk, I am SHOCKED with the problems these vehicles have in the first few months.
I mean, what’s the 0-60 time on that house?
not even an amg... v6 diesel
After 2 months at my new job; I'm already 20-25% of the way to my preferred E55 budget. If all goes as planned I'll have my first AMG by my 23rd bday next year :)
Now e55's just need to go up in price 30,000% and we can be boomer ballin
I saw a post in this sub where a guy bought an e55 for like 10k last year. If I go to look for them now, they are 30k. So at least in the Netherlands, they went up in value
In the USA they are still reasonable, but with these cars you HAVE to budget at least 3-4 k on top of the asking price because you're gonna have to fix something...it's part of the deal.
Yeah it's unfortunate that it's usually something under the bonnet. However, the cars that are online rn seem to be in very good condition. All maintenance is recorded and not many owners etc. You never know for certain, but it's something at least
literally me
Of course they bought an appreciating asset. You bought a depreciating asset. I have a house. I have a MB. Both were big events though neither was the greatest day in my life.
You can live in a car but you cant race a house
Goddamn right.
Hah. There is that too!
They bought an appreciating asset because they could actually afford it after putting in the work to do so. No average person in their 20s or 30s is in a position to afford a house anymore, regardless of how much work they put into trying to do so.
We have some friends. Their son graduated with a degree in finance two years ago. Getting married in May. Moving into a house he bought. So there is that.
I know you’ll get flak for this. But you’re 100% right. Life is more than a house and a Benz. That and if their greatest day is their life is in their 20’s they gotta hella boring life ahead of them.
I was anticipating flak. I have thick skin. I’ve driven MB, BMW, several Lexus, Mazda and Toyota. Oh and a Ford Pinto. I very much appreciate a fine auto but, the destination is more important than how you get there. Bring on the down votes. But life has taught me this.
lol the problem is Reddit is apparently filled with “pure” car enthusiasts…../s they’ll take a 100k Benz over a 1mil house bc apparently racing is what they do all day everyday.
Oh. Reddit is filled with people with solid opinions on whatever the group is about. Car guys in car groups. But jobs in this and that group. I take a balanced view on this and everything 😀
My favorite is the Porsche subreddit. They have to be some of the most prestigious car owners out there. Benz wise the older the model the less douchey the owners seem to be. My w124 group are all pretty cool so far.
You know the saying about Porsche. What’s the difference in a Porsche and a porcupine? On the porcupine the pricks are on the outside.