Why people rather buy a nice new car than buy a home?

Question

I know many peopel do had pretty good pay salary, choose rather own a nice new car over buy a home, still renting, car will quickly drop the resale value, while home is a different story, most likely price will goes up especially in this market we had now.

Answer 1

most people cannot afford the down payment for a house.

others don't want that 30+ year mortgage.

with many things in life you cannot explain why people do irrational things with a rational explanation.

Answer 2

Even if you live an hour or two from the city, do you really need to invest in a brand new luxury car? Having a decent house and a family is the american dream. You can always get a car, whether new or used, but getting a house in a respectful neighborhood in which you and your kids can be safe should be a priority. People are short sighted. That is the way culture is. People have the mentality to  ride and sport a nice car along the rode and at the beach with the music blasting rather than buy a nice house. I guess its because you cant wear a house. It doesnt look good with that red dress and red and black shades i guess....lol!!!!!!!!!!!!!!

Answer 3

People are brain wash to give up their money.

You know what they say:  A fool and his money are soon parted.

Good Luck...

Answer 4

It is smarter to rent if you do not know where you are going to work in the future or not ready to settle. There is also a way to save on the rent, roommates sharing the rent. Another option, if you can, is to live with your parents till you marry.  This is the best option of all.  The best time to buy a house is when you ready to settle down and get married. Car, however, is a different story. Unless you live in a big city with reliable transportation, you need a car.

Answer 5

because they are short sighted and want instant gratification.  The same goes for people who will drop 30k on a car and not take that money and go to college.....