G-Man
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- Jan 13, 2014
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I know this is a personal anecdote and not an article, but I feel it's in the spirit of the thread.
At my cigar club last night, just trying to unwind while looking over a fileshare, and this 27 year old accountant who overshares about his financial situation (proud of his slowlane success) corners me to talk about buying a house:
Him: We're going to buy a house, and I'm trying to explain to my wife that having a mortgage is actually better than paying rent.
Me: Sure
Him: In (Insert city) you can easily find houses for under 300k, and she's a software engineer, and in a couple years I oughtta be able to get a senior staff accountant position, and we already make 6 figures between us, and I have a 770 credit score blah, blah, blah
Me: Well if you're taking home 6 figures and buy something less than 300k, you should be just fine (stand up about to pretend to go take a piss so I can walk away. This dude is such a drag. Seriously, who gave this man a locker?)
Him: Yeah, It should only take us another 6 months to put together the 10% down payment
This dude that has a six figure income and no children, apparently needs a year or more to put together 30k, and is sitting there bragging about his credit score. Bragging about your ability to borrow while having no cash. If that isn't the script I don't know what is.
Scariest detail: Not that long ago I thought exactly like this guy.
At my cigar club last night, just trying to unwind while looking over a fileshare, and this 27 year old accountant who overshares about his financial situation (proud of his slowlane success) corners me to talk about buying a house:
Him: We're going to buy a house, and I'm trying to explain to my wife that having a mortgage is actually better than paying rent.
Me: Sure
Him: In (Insert city) you can easily find houses for under 300k, and she's a software engineer, and in a couple years I oughtta be able to get a senior staff accountant position, and we already make 6 figures between us, and I have a 770 credit score blah, blah, blah
Me: Well if you're taking home 6 figures and buy something less than 300k, you should be just fine (stand up about to pretend to go take a piss so I can walk away. This dude is such a drag. Seriously, who gave this man a locker?)
Him: Yeah, It should only take us another 6 months to put together the 10% down payment
This dude that has a six figure income and no children, apparently needs a year or more to put together 30k, and is sitting there bragging about his credit score. Bragging about your ability to borrow while having no cash. If that isn't the script I don't know what is.
Scariest detail: Not that long ago I thought exactly like this guy.