FYI: Diamonds and DeBeers's brainwashing

[Anubis]

No one has to go out and pay 5 figures for a nice ring, but one should be expected to at least make a sacrifice on this purchase like any other major one people go through.

 

[sdifox]

A diamond is a dowry. A form of proof that the buyer can earn a living, do more than just scrape by, and can actually save money for a future goal. Is it the only way to do it? No, but it is a nearly universally recognized symbol of all that. Hate diamonds? Fine, don't buy one. But a person who can afford to buy one is often a better prospect than one who can't. A very nice stone is only a grand or two. This isn't a big expense. It shouldn't put you in debt. It isn't a car or a house, but an affordable bauble to be a bauble.

lulz. I would rather put it towards down-payment on the house.

 

[alkemyst]

Not sure what was so funny to you...

 

[alkemyst]

lulz. I would rather put it towards down-payment on the house.

Again this is where it comes back full-circle to someone that can't afford things.

You don't buy such a diamond that you cannot afford other requirements.

Also unless you are paying $15k+ for the stone, it's not going to affect a downpayment on a home.

 

[sdifox]

Again this is where it comes back full-circle to someone that can't afford things.

You don't buy such a diamond that you cannot afford other requirements.

Also unless you are paying $15k+ for the stone, it's not going to affect a downpayment on a home.

lulz paid off my house in 8 years. Sometimes, it is not about affordability, it's about priority.

 

[alkemyst]

lulz paid off my house in 8 years. Sometimes, it is not about affordability, it's about priority.

did it have wheels attached?

 

[sdifox]

did it have wheels attached?

nope. just a modest 2800 sq ft house. was putting 4k into mortgage payment per month plus lumpsum at anniversary.

 

[alkemyst]

nope. just a modest 2800 sq ft house. was putting 4k into mortgage payment per month plus lumpsum at anniversary.

Hope you were at some insane interest rate and/or have at least $500k in retirement doing something that stupid.

I also hope it wasn't done over the last 10 years or so, or you definitely took a bath.

 

[sdifox]

Hope you were at some insane interest rate and/or have at least $500k in retirement doing something that stupid.

I also hope it wasn't done over the last 10 years or so, or you definitely took a bath.

You worry about your financial situation and I'll worry over mine.

I sold that house for 200k more than what I paid.

 

[alkemyst]

You worry about your financial situation and I'll worry over mine.

I sold that house for 200k more than what I paid.

You brought it into this, even a $12k ring would have changed your payment plan by less than 1 year.

What you are telling us makes absolutely no sense.

 

[waggy]

lulz paid off my house in 8 years. Sometimes, it is not about affordability, it's about priority.

exactly.

to many buy stupid shit like a $5k ring then splurge on a huge wedding. then are in fucking debt and then struggle with all the other bills they have.

there is no reason to have a huge lavish wedding and a huge flashy diamond. yeah i know its a bragging thing. i guess i would rather save for kids college, get the house paid off, and not work to pay my debt off.

 

[sdifox]

You brought it into this, even a $12k ring would have changed your payment plan by less than 1 year.

What you are telling us makes absolutely no sense.

3 months to be exact. Again, you have your priorities, we have ours.

We did buy a ring a few years later, but that is when the mortgage was down to like 10%.

The same 12k makes a huge difference at the beginning. Our down payment was 75k, knocking it down to 63k would have meant mortgage insurance.

Waiting meant the ring was paid with money that would have gone into mortgage insurance.

 

[dullard]

lulz paid off my house in 8 years. Sometimes, it is not about affordability, it's about priority.

The difference between a ring down payment and no ring down payment is negligible.

The median house in the US with 10% down payment is now $646/ month. If you had to borrow $3000 more it is $660/month. Your priority was thus to save $13.47/month. That is one lunch. Two Frappucinos. Or a couple days of cell phone service.

Nice bauble or $13? I chose the bauble.

Lulz at $13/month it isn't a priority decision it is a cheapskate decision.

 

[Naeeldar]

A diamond is a dowry. A form of proof that the buyer can earn a living, do more than just scrape by, and can actually save money for a future goal. Is it the only way to do it? No, but it is a nearly universally recognized symbol of all that. Hate diamonds? Fine, don't buy one. But a person who can afford to buy one is often a better prospect than one who can't. A very nice stone is only a grand or two. This isn't a big expense. It shouldn't put you in debt. It isn't a car or a house, but an affordable bauble to be a bauble.

It's just a question of the stupidity of it all. I can and probably will be getting $12-$15k ring and I'm only 28 now. I own my house and I'm about to refi into 15 year loan also so I have all the other major important things done. But that's 15k could easily net another rental property or the start of one.

Shrug I'll do it because women expect it and it may be a form of dowry. Personally though I'm not sure how owning multiple properties wouldn't show the same thing. It's still stupid.

The difference between a ring down payment and no ring down payment is negligible.

The median house in the US with 10% down payment is now $646/ month. If you had to borrow $3000 more it is $660/month. Your priority was thus to save $13.47/month. That is one lunch. Two Frappucinos. Or a couple days of cell phone service.

Nice bauble or $13? I chose the bauble.

Lulz at $13/month it isn't a priority decision it is a cheapskate decision.

Given his location I'm going to imagine he spent closer to $350,000 for the home to start and probably sold for about $500k (assuming it's torotona canada)

Median home is all relative. The next house I buy will cost me at least $300k thanks to living in the Northeast. My mortgage will be closer to $1,800 or 3x your median mortgage.

 

[sdifox]

The difference between a ring down payment and no ring down payment is negligible.

The median house in the US with 10% down payment is now $646/ month. If you had to borrow $3000 more it is $660/month. Your priority was thus to save $13.47/month. That is one lunch. Two Frappucinos. Or a couple days of cell phone service.

Nice bauble or $13? I chose the bauble.

Lulz at $13/month it isn't a priority decision it is a cheapskate decision.

see post above yours to see my case.

I am not in the USA. We don't get to deduct mortgage interest from our income. I will never understand why you guys get to in the first place.

I call that government hand out.

 

[alkemyst]

see post above yours to see my case.

I am not in the USA. We don't get to deduct mortgage interest from our income. I will never understand why you guys get to in the first place.

I call that government hand out.

lol, now the P&N drama...for most with rates so low they get no deductions except maybe the first year or two. Even a $250k home doesn't make the itemized deduction threshold anymore.

In Canada, you get screwed because anyone that owns property for rent or hire can indeed deduct their interest and costs. They are screwing the lower class.

 

[sdifox]

lol, now the P&N drama...for most with rates so low they get no deductions except maybe the first year or two. Even a $250k home doesn't make the itemized deduction threshold anymore.

In Canada, you get screwed because anyone that owns property for rent or hire can indeed deduct their interest and costs. They are screwing the lower class.

Those would be considered business expense. Rental income has to be reported too. A quib on tax code and it's automatically p&n?


I love how being a single house owner (with a mortgage again, sigh) puts in in the lower class :biggrin:

 

[dullard]

see post above yours to see my case.

I am not in the USA. We don't get to deduct mortgage interest from our income. I will never understand why you guys get to in the first place.

I call that government hand out.

It is a terrible government handout but irrelevant to this thread. With a $350,000 house the mortgages are $1414.5 and $1427.9 respectively. Still $13 difference.

 

[alkemyst]

Those would be considered business expense. Rent income has to be reported too.


I love how being a single house owner (with a mortgage again, sigh) puts in in the lower class :biggrin:

Oh wait...I thought your priorities were not to have a mortgage yet you sold a $300k home roughly for a $200k profit and now have a mortgage again?

But yes, the wealthy usually have multiple rentals when it's profitable to do so. Being your country allows them to deduct their interest but not private owners shows an upper class slant to your tax system.

 

[sdifox]

It is a terrible government handout but irrelevant to this thread. With a $350,000 house the mortgages are $1414.5 and $1427.9 respectively. Still $13 difference.

Did you see the part about me spending the 13k would have required me to get mortgage insurance?

 

[sdifox]

Oh wait...I thought your priorities were not to have a mortgage yet you sold a $300k home roughly for a $200k profit and now have a mortgage again?

But yes, the wealthy usually have multiple rentals when it's profitable to do so. Being your country allows them to deduct their interest but not private owners shows an upper class slant to your tax system.

There is always an upper class slant in tax code. Doesn't really matter where you live. Our slant is a little less than yours.

My wife wanted to move to a nicer house. And for my sanity, I think a mortgage is worth it. :whiste:

Trust me, I don't like mortgages.

 

[alkemyst]

Did you see the part about me spending the 13k would have required me to get mortgage insurance?

Yet you were putting $4k per month + lumpsums into paying it off in 8 years. Saying you'd be even $13k short makes no sense.

 

[sdifox]

Yet you were putting $4k per month + lumpsums into paying it off in 8 years. Saying you'd be even $13k short makes no sense.

What part did you not get? I did not want to pay mortgage insurance. I should have been clearer, 4k is more towards the last half of the mortgage when our income levels were higher.

here is the rate table

http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_005.cfm

 

[alkemyst]

There is always an upper class slant in tax code. Doesn't really matter where you live. Our slant is a little less than yours.

My wife wanted to move to a nice house. And for my sanity, I think a mortgage is worth it. :whiste:

Again though this is back to not being able to afford it then. I think it's awesome though how you make a comment at wanting to avoid interest, had a 2800 sq ft home you sold for a $200k profit and she goes and makes you go back to the mortgage life again.

I am just saying your posts make no sense on your 'priorities'. $5-6k buys a nice ring, $12k a really nice one. I personally think moving far outside 2-3 carats at an upper max is gaudy looking except on some really big girls.

It just doesn't make sense your reasons.

 

[sdifox]

Again though this is back to not being able to afford it then. I think it's awesome though how you make a comment at wanting to avoid interest, had a 2800 sq ft home you sold for a $200k profit and she goes and makes you go back to the mortgage life again.

I am just saying your posts make no sense on your 'priorities'. $5-6k buys a nice ring, $12k a really nice one. I personally think moving far outside 2-3 carats at an upper max is gaudy looking except on some really big girls.

It just doesn't make sense your reasons.

Let me put it into terms you seem to understand better.

I can afford to give my wife 200k as opposed to your puny 12k.