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How do you propose solving problems like "buy a house" and "buy a car" without debt? The average person who needs to drive to work has no way to buy a car in ca

How do you propose solving problems like "buy a house" and "buy a car" without debt? The average person who needs to drive to work has no way to buy a car in cash, at least not early on. If you drop all your savings on a new car and suddenly end up with a hospital bill, that car isn't going to pay for it. I say this as someone who had enough saved to buy a car in cash: Buying it via a loan was the right choice. It boosted my credit rating and more importantly when emergencies came up I had that cash on hand.

zepto 7y ago
Agree with you - although the part about boosting your credit rating, although true, is a scam.
Psyladine 7y ago
Rent, and, 'cars are bad'. This is written from an urbanist perspective. If you mean it can't scale, well, yes, its target is silicon valley devs. Either rich enough where it doesnt matter, or poor enough where it doesn't matter.
ghastmaster 7y ago
Look up the word "savings". It is possible to rent a cheap apartment, buy a used car, and wait until you can afford better things. Obviously some people are going to run into financial difficulties if they have unexpected extraordinary bills. The vast majority of things in life are however, expected. Nothing is new under the sun. The overwhelming debt of the world increases costs. Additionally, debt temporarily tricks most people into thinking they have more than they actually do. I think more people would be interested in working harder for better jobs or opportunities if it wasn't so easy to get whatever you want by signing a piece of paper.
- kevingadd 7y ago
  How do I rent a cheap apartment and buy a used car without a job? The job I need a car to drive to? What am I supposed to save, exactly? The allowance I get from my presumably rich parents? In my case, my first job (at 14) required getting a ride to from a coworker with a car. Getting to university for my job working in the computer lab + my courses required either a car ride from a neighbor or 3 hours on the bus. After I moved away for my first salaried job, I needed a loan (thankfully a personal one and not from a bank - both of which are things many people don't have access to!) to cover my first month of expenses so I could move and actually start getting paid and building measurable savings, since the move already exhausted the savings I had left over after uni. Money doesn't come out of thin air. Not everyone starts their working life with access to enough money to just buy a car (even used!) and rent an apartment.
  - ghastmaster 7y ago
    >How do I rent a cheap apartment and buy a used car >without a job?... You answered your question with the second paragraph...? >In my case, my first job (at 14) required getting a ride to from a coworker with a car... You chose to go to university in lieu of financial stability. That is how savings is not acquired. Save the money, then go to school. Buy things you can afford, including school. >Money doesn't come out of thin air. Not everyone starts their working life with access to enough money to just buy a car (even used!) and rent an apartment. Babies are born without jobs or means to clothe and shelter themselves, but we have what are called families, communities, and society. Each melds together to form a fabric of civilization that provides in one way or another the necessities of life. Start working as young as possible, save up, spend thrift.
- citrablue 7y ago
  Of course, you miss out on real estate for a number of years while you do this. Time in market and leverage are important.
  - ghastmaster 7y ago
    Important for what? Your home is not and should no be an investment. Investments come with risks. Don't risk losing your means of shelter because you wanted to make money. Compounding gains with loans for real estate investment as a business does make leverage seem important. That is, until a scenario where real estate prices fall, you cannot acquire more property because you leverage based on property price, loans pay your expenses, and you lose your investments. Pay with cash and renters pay your expenses.

zepto 7y ago

Agree with you - although the part about boosting your credit rating, although true, is a scam.

Psyladine 7y ago

Rent, and, 'cars are bad'. This is written from an urbanist perspective. If you mean it can't scale, well, yes, its target is silicon valley devs. Either rich enough where it doesnt matter, or poor enough where it doesn't matter.

ghastmaster 7y ago

Look up the word "savings". It is possible to rent a cheap apartment, buy a used car, and wait until you can afford better things. Obviously some people are going to run into financial difficulties if they have unexpected extraordinary bills. The vast majority of things in life are however, expected. Nothing is new under the sun. The overwhelming debt of the world increases costs. Additionally, debt temporarily tricks most people into thinking they have more than they actually do. I think more people would be interested in working harder for better jobs or opportunities if it wasn't so easy to get whatever you want by signing a piece of paper.

kevingadd 7y ago
How do I rent a cheap apartment and buy a used car without a job? The job I need a car to drive to? What am I supposed to save, exactly? The allowance I get from my presumably rich parents? In my case, my first job (at 14) required getting a ride to from a coworker with a car. Getting to university for my job working in the computer lab + my courses required either a car ride from a neighbor or 3 hours on the bus. After I moved away for my first salaried job, I needed a loan (thankfully a personal one and not from a bank - both of which are things many people don't have access to!) to cover my first month of expenses so I could move and actually start getting paid and building measurable savings, since the move already exhausted the savings I had left over after uni. Money doesn't come out of thin air. Not everyone starts their working life with access to enough money to just buy a car (even used!) and rent an apartment.
- ghastmaster 7y ago
  >How do I rent a cheap apartment and buy a used car >without a job?... You answered your question with the second paragraph...? >In my case, my first job (at 14) required getting a ride to from a coworker with a car... You chose to go to university in lieu of financial stability. That is how savings is not acquired. Save the money, then go to school. Buy things you can afford, including school. >Money doesn't come out of thin air. Not everyone starts their working life with access to enough money to just buy a car (even used!) and rent an apartment. Babies are born without jobs or means to clothe and shelter themselves, but we have what are called families, communities, and society. Each melds together to form a fabric of civilization that provides in one way or another the necessities of life. Start working as young as possible, save up, spend thrift.
citrablue 7y ago
Of course, you miss out on real estate for a number of years while you do this. Time in market and leverage are important.
- ghastmaster 7y ago
  Important for what? Your home is not and should no be an investment. Investments come with risks. Don't risk losing your means of shelter because you wanted to make money. Compounding gains with loans for real estate investment as a business does make leverage seem important. That is, until a scenario where real estate prices fall, you cannot acquire more property because you leverage based on property price, loans pay your expenses, and you lose your investments. Pay with cash and renters pay your expenses.