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A Car or A House?
Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
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obiero wrote:sqft wrote:obiero wrote:sqft wrote:newfarer wrote:obiero wrote:sparkly wrote:NewMoney wrote:newfarer wrote:emlyn ngwiri wrote:as investors, its always good to invest in appreciating assets.
a car is depreciating while a house will always appreciate even though it is in mandera.
get the house then the car will done later Good advice given 9 years ago .hope as many wazuans took it. Actually it's a very bad advice. First of all, many first car buyers' budget can not get any worthy house, maybe some plot in the deep outskirts. If you can afford a house, you can definitely afford to get both at the same time For a small minority, it can make sense to get the house first (e.g interested in living in the deep outskirts or small towns) but for the rest of us, a car is better to have before the house. It worked for me and many others. A house is also a depreciating asset. Wewe ulisomea wapi. I am interested in your world views Hata Mimi nataka kuonyeshwa nyumba moja imedepreciate in the last 10 years in Kenya. Factually .as in kwa ground Its the land on which the house stands that appreciates, otherwise its true a building can become derelict and even become uninhabitable and need demolition, but the land remains valuable. The plot can also be redeveloped to make one even more money. That is why houses built on own plots appreciate faster than apartments which are built on communal unsalable land. You have all seen those neglected bungalows sitting on land worth hundreds of millions in upmarket areas of nairobi. The structure could be worth 0.5m but the land is worth 500m. Semantics. The question was a car or house.. Tufungue thread ingine ya land or house The comparison is very subjective. Is it between a 7m prado vs 7m apartment or between the 7m apartment and a 400k car? Captain. By the time one buys a 7m car he/she must have a high net worth. Probably over 30m But the question was a house or a car first? Why are you making assumptions that the person wanted to buy a 7m car? What if it was a 250K car? A car nowadays is a basic need for mobility If Obiero did it, Who Am I?
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Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
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jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story.
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Rank: Chief Joined: 1/3/2007 Posts: 18,095 Location: Nairobi
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Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 3/1/2019 Posts: 170 Location: Nairobi
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jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. This does not mean much. Some tenants are also wealthier than their landlords. I have even come across landlords with negative networths
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Rank: Member Joined: 7/10/2014 Posts: 145 Location: Nairobi
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NewMoney wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. This does not mean much. Some tenants are also wealthier than their landlords. I have even come across landlords with negative networths I tend to agree but this is a one in a million scenario case. "Blowing out someone else candle won't make yours shine brighter"-Anonymous
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Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
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VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? If Obiero did it, Who Am I?
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Rank: Member Joined: 7/1/2009 Posts: 256
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Swenani wrote:VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? Why have only one wife, yet the law allows more than one 
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Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
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Monk wrote:Swenani wrote:VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? Why have only one wife, yet the law allows more than one One wife, one side chick If Obiero did it, Who Am I?
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Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
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Swenani wrote:VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? That's why Buffett is Buffett and Swenani is Swenani. A complete difference in mentality. If you eat all the eggs from your sole chicken daily, when will that sole kuku ever grow into a Kenchic empire? Age and family mellows us all over time
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Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
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amorphous wrote:Swenani wrote:VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? That's why Buffett is Buffett and Swenani is Swenani. A complete difference in mentality. If you eat all the eggs from your sole chicken daily, when will that sole kuku ever grow into a Kenchic empire? If I have a kenchic empire, what harm will it cause if I consumed one egg? If Obiero did it, Who Am I?
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Rank: Member Joined: 3/1/2019 Posts: 170 Location: Nairobi
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Swenani wrote:amorphous wrote:Swenani wrote:VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? That's why Buffett is Buffett and Swenani is Swenani. A complete difference in mentality. If you eat all the eggs from your sole chicken daily, when will that sole kuku ever grow into a Kenchic empire? If I have a kenchic empire, what harm will it cause if I consumed one egg? I don't buy the frugal Billionaire narrative. He is simply not into cars so he owns a fancy private jet and even a jet leasing company or something. There are many people who just don't get the whole point of overpriced cars and houses including maself, private jets on the other hand .... bring it on baby (I don't have one, yet). Also, Buffet is 89. if you haven't lived by that age....
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Rank: Member Joined: 5/15/2019 Posts: 677 Location: planet earth
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Swenani wrote:amorphous wrote:Swenani wrote:VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? That's why Buffett is Buffett and Swenani is Swenani. A complete difference in mentality. If you eat all the eggs from your sole chicken daily, when will that sole kuku ever grow into a Kenchic empire? If I have a kenchic empire, what harm will it cause if I consumed one egg? I just told you why  You seem very interested in spending other peoples hard earned wealth without understanding how it was acquired and preserved. Speak for yourself. Why aren't you Kenchic wealthy yet you have an egg laying chicken in your hands just like the rest of us? Age and family mellows us all over time
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Rank: User Joined: 8/15/2013 Posts: 13,236 Location: Vacuum
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NewMoney wrote:Swenani wrote:amorphous wrote:Swenani wrote:VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? That's why Buffett is Buffett and Swenani is Swenani. A complete difference in mentality. If you eat all the eggs from your sole chicken daily, when will that sole kuku ever grow into a Kenchic empire? If I have a kenchic empire, what harm will it cause if I consumed one egg? I don't buy the frugal Billionaire narrative. He is simply not into cars so he owns a fancy private jet and even a jet leasing company or something. There are many people who just don't get the whole point of overpriced cars and houses including maself, private jets on the other hand .... bring it on baby (I don't have one, yet). Also, Buffet is 89. if you haven't lived by that age.... This maybe a valid argument not that amorphous thinking by amorphous If Obiero did it, Who Am I?
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Rank: Chief Joined: 1/3/2007 Posts: 18,095 Location: Nairobi
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NewMoney wrote:Swenani wrote:amorphous wrote:Swenani wrote:VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? That's why Buffett is Buffett and Swenani is Swenani. A complete difference in mentality. If you eat all the eggs from your sole chicken daily, when will that sole kuku ever grow into a Kenchic empire? If I have a kenchic empire, what harm will it cause if I consumed one egg? I don't buy the frugal Billionaire narrative. He is simply not into cars so he owns a fancy private jet and even a jet leasing company or something. There are many people who just don't get the whole point of overpriced cars and houses including maself, private jets on the other hand .... bring it on baby (I don't have one, yet). Also, Buffet is 89. if you haven't lived by that age.... He doesn't own a jet at the moment. He called the first one "The Indefensible" but it was a business tool for him. He used it to visit many of his businesses or make business trips. That led him to buy NetJets, which is now a profitable business. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 3/1/2019 Posts: 170 Location: Nairobi
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VituVingiSana wrote:NewMoney wrote:Swenani wrote:amorphous wrote:Swenani wrote:VituVingiSana wrote:Queen wrote:jgithige wrote:Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. There is always an assumption that if your car is more expensive than mine then you are wealthier than me. However driving an expensive car than mine does not necessarily imply that you are richer than me. In other words, your car can say something about you but does not give the whole story. https://www.scmp.com/mag...-warren-buffett-youd-be In 2014, he replaced it with a Cadillac XTS, which has an original starting price of US$44,600. He also buys beat-up cars – like hail-damaged cars – at reduced prices and is reluctant to replace them, daughter Susie Buffett said in a BBC documentary. This is too much. What's the purpose fo accumulating so much yet you can have reasonable luxuries? That's why Buffett is Buffett and Swenani is Swenani. A complete difference in mentality. If you eat all the eggs from your sole chicken daily, when will that sole kuku ever grow into a Kenchic empire? If I have a kenchic empire, what harm will it cause if I consumed one egg? I don't buy the frugal Billionaire narrative. He is simply not into cars so he owns a fancy private jet and even a jet leasing company or something. There are many people who just don't get the whole point of overpriced cars and houses including maself, private jets on the other hand .... bring it on baby (I don't have one, yet). Also, Buffet is 89. if you haven't lived by that age.... He doesn't own a jet at the moment. He called the first one "The Indefensible" but it was a business tool for him. He used it to visit many of his businesses or make business trips. That led him to buy NetJets, which is now a profitable business. He and his family actually use the fleet of jets from NetJets, even his kids' family use them. He get's to sell the fractional ownership of the jets and make some money while at it. The whole it's a "business" or it's a "business tool" thing is just a tax avoidance mechanism, otherwise, the guy is 100% a private jet fan and is definitely not sparing any cash on that. He talks a bit here about how the depreciation of the planes saves the business taxes and also mentions that he pays for his kids to use the private jets. Does not sound frugal to me: https://www.youtube.com/watch?v=E3MVIeXYIBg
This guy has said he still pays less tax than his secretary
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