In a recent trip to New York, a young female Long Islander remarked, “I’ve been spoiled with cars. I’ve always owned new expensive ones.”

And, no, she was not joking.

I suppose I should also mention we were sitting in her 600 square foot apartment.

In case any of you haven’t heard, you’re supposed to buy cheap cars and expensive houses… at least that’s what Steve Weber always said. It’s in the top 5 rules of how to build wealth (somewhere between save for retirement and seek passive income). After all, cars depreciate while houses appreciate.

Just wanted to make sure all you young bucks out there new that.

This entry was posted on Wednesday, May 16th, 2007 at 10:28 am and is filed under Rants and Raves. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.