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  1. #101

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    not sure how this went from leicas to homes, but you guys touting over buying are missing one thing:

    Rent a home, 30 years down the pike the number MAY work out in your favor when you consider maintenance, interest and all that other crud.

    but

    BUY a house and pay it off (which I also strongly advocate, as quickly as possible interest is evil) and you have one thing nobody else has: No matter what happens -- job loss, sickness, financial collapse, whatever, you have a roof over your head.

    the utilities may be shut off, it may be dark, but by god, it's yours. And as Steinbeck once observed, anyone who has a yard for a garden need not starve.

    And once you buy a leica you don't need another camera, either. Value in the long run.

  2. #102
    darkosaric's Avatar
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    Quote Originally Posted by summicron1 View Post

    And once you buy a leica you don't need another camera, either. Value in the long run.
    After shooting with nikon for some time I wanted to buy a rangefinder. I got minolta hi-matic, it was good, but no manual settings, so I get rid of it. I got Yashica links 14 then, but it was to big and not very handy in usage. Then I got zorki 4 and some other soviet cameras - they were terrible. I got minox - shutter died. And list goes on.

    I wish I got Leica in the first place, it would be much cheaper and less stressful. Now when I have M6 and M3 I know that there is no need for another rangefinder camera in my life.

  3. #103
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    Quote Originally Posted by Diapositivo View Post
    I agree with all the post, and I arrive to say that also regarding houses smart people earn interest instead of paying it.
    I mean that if people knew some financial mathematics they would easily understand that it is much cheaper to rent a house, and save and invest the difference between rent and mortgage, than paying a mortgage.
    Both times I bought houses with in five years or less, it was cheaper to pay a loan then rent.

    Quote Originally Posted by Diapositivo View Post
    Mortgages make people poor. Buy a house when you have the money to pay it cash, I say. A mortgage is a way to pay interest on a large capital. Saving is a way to earn interest. A mortgage instalment is much bigger than a rent for the same house if the market is in a normal state. The monthly difference, properly invested for the long term, will buy a house faster than the mortgage.
    I have had my present house since 2001. In the first five years, it doubled its value. In the last five years with the Great Baby Bush Depression, the value has increased 30% more. It is all about location, location, location.
    Warning!! Handling a Hasselblad can be harmful to your financial well being!

    Nothing beats a great piece of glass!

    I leave the digital work for the urologists and proctologists.

  4. #104

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    Is the Leica an "Investment?"

    Quote Originally Posted by Sirius Glass View Post
    Both times I bought houses with in five years or less, it was cheaper to pay a loan then rent.



    I have had my present house since 2001. In the first five years, it doubled its value. In the last five years with the Great Baby Bush Depression, the value has increased 30% more. It is all about location, location, location.
    +1 congrats too!


    ~Stone

    Mamiya: 7 II, RZ67 Pro II / Canon: 1V, AE-1, 5DmkII / Kodak: No 1 Pocket Autographic, No 1A Pocket Autographic | Sent w/ iPhone using Tapatalk

  5. #105
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    Quote Originally Posted by BradS View Post
    I think it also important to recognize that Luxury is not synonymous with quality.
    Absolutely - there are plenty of "luxury" goods that are too finicky/fussy/delicate/fragile to be useful. Fortunately in the camera world for the most part that's not true. And then there's some luxury goods that never made sense, like the gold-plated and lizard-skinned RB67. That's like putting a $30,000 paint job on a Ford F150 pickup truck. Great tool, devoted following, but nobody is ever going to confuse it with a Hassy or a Leica. Nor would they want to.

  6. #106
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    Quote Originally Posted by summicron1 View Post

    BUY a house and pay it off (which I also strongly advocate, as quickly as possible interest is evil) and you have one thing nobody else has: No matter what happens -- job loss, sickness, financial collapse, whatever, you have a roof over your head.
    Unless you don't pay your property taxes.
    I do use a digital device in my photographic pursuits when necessary.
    When someone rags on me for using film, I use a middle digit, upraised.

  7. #107
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    Quote Originally Posted by pbromaghin View Post
    Diapositivo, your calculations are ignoring a very large factor - risk.

    The purchase of a home hedges the risk (borne by a renter) of rising home values and hence, rising rent. There is value in having one's housing expenses relatively fixed for a number of years, as provided by a mortgage. Further, in assuming your investments will be profitable, you also dismiss the risk of your skill in choosing investments that will (as you do recognize in the case of land) go up, down, or stay the same.

    There is another thing to be said for real estate - they ain't making any more of it.
    In addition, Diapositivo's calculations assume that the market includes a good supply of rental stock.

    In our corner of the world, it is cheaper for many people to buy then rent, if they have the requisite down payment (minimum 5%). That is due to the fact that rental properties are in short supply.

    We don't have access to mortgages with terms of 25 or 30 years here - 5 years is as long as the government mortgage insurance programs will cover. We use approximately the same 25 - 30 year amortization periods (the interest compounding is calculated slightly differently).

    The current competitive mortgage market makes it relatively easy to get a 3% rate on your 5 year term, 25 year amortization fixed mortgages.
    Matt

    “Photography is a complex and fluid medium, and its many factors are not applied in simple sequence. Rather, the process may be likened to the art of the juggler in keeping many balls in the air at one time!”

    Ansel Adams, from the introduction to The Negative - The New Ansel Adams Photography Series / Book 2

  8. #108

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    There are several rules I go by....

    Never confuse investment and hobby purchases....
    Luxury purchase with any types of loan - NO!
    Use credit card but always pay off in full
    Save first and enjoy the rest - they are equally important
    Buy the best and buy once

    ... so NO, I will not and would not have purchased Leica on credit especially if I already had a balance on credit card.
    I think OP made a wise choice to sell and pay off the debt first.
    Develop, stop, fix.... wait.... where's my film?

  9. #109

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    Is the Leica an "Investment?"

    Quote Originally Posted by TheFlyingCamera View Post
    Absolutely - there are plenty of "luxury" goods that are too finicky/fussy/delicate/fragile to be useful. Fortunately in the camera world for the most part that's not true. And then there's some luxury goods that never made sense, like the gold-plated and lizard-skinned RB67. That's like putting a $30,000 paint job on a Ford F150 pickup truck. Great tool, devoted following, but nobody is ever going to confuse it with a Hassy or a Leica. Nor would they want to.
    Plenty of people have confused my Mamiya RZ67 for a Hassy, happens all the time haha.

    Sometimes my Mamiya 7 is a Leica too, I just say yes when they ask with amazement lol.


    ~Stone

    Mamiya: 7 II, RZ67 Pro II / Canon: 1V, AE-1, 5DmkII / Kodak: No 1 Pocket Autographic, No 1A Pocket Autographic | Sent w/ iPhone using Tapatalk

  10. #110

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    Is the Leica an "Investment?"

    Quote Originally Posted by MattKing View Post
    In addition, Diapositivo's calculations assume that the market includes a good supply of rental stock.

    In our corner of the world, it is cheaper for many people to buy then rent, if they have the requisite down payment (minimum 5%). That is due to the fact that rental properties are in short supply.

    We don't have access to mortgages with terms of 25 or 30 years here - 5 years is as long as the government mortgage insurance programs will cover. We use approximately the same 25 - 30 year amortization periods (the interest compounding is calculated slightly differently).

    The current competitive mortgage market makes it relatively easy to get a 3% rate on your 5 year term, 25 year amortization fixed mortgages.
    Canada?


    ~Stone

    Mamiya: 7 II, RZ67 Pro II / Canon: 1V, AE-1, 5DmkII / Kodak: No 1 Pocket Autographic, No 1A Pocket Autographic | Sent w/ iPhone using Tapatalk



 

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