As you know, the Internet has made pretty much anything possible. Finding a job, selling your car, learning about remote destinationswell, you get the point. And now, thanks to a New York woman, we can now add, finding a rich husband to the list. Recently, a 25 year old New York woman, posted an add on Craigslist (unfortunately she has since taken it off, but heres a link to what she posted), in an attempt to find a sugar daddy “ a rich husband – who makes over $500K a year.
The anonymous woman argued that a million a year is middle class in New York City, so I don’t think I’m overreaching at all. Whether thats the case or not, who places an ad for a husband? Sure there are online dating services and things like that, but who skips all of that and tries to go straight to the finish line?
Luckily, for us that is, someone found the self-proclaimed superficial (as if we couldnt figure that out on our own) womans post and offered his take on the situation. The NYC banker who responded and supposedly met the womans requirements, told the lady that her proposal was plain and simple a crappy business deal. He argued that even though this woman described herself as spectacularly beautiful, that
“Your looks will fade and my money will likely continue into perpetuity … in fact, it is very likely that my income increases but it is an absolute certainty that you won’t be getting any more beautiful! So, in economic terms you are a depreciating asset and I am an earning assetLet me explain, you’re 25 now and will likely stay pretty hot for the next 5 years, but less so each year. Then the fade begins in earnest. By 35 stick a fork in you!
Harsh, but probably pretty accurate. The mystery banker continued and came to the conclusion that, “It doesn’t make good business sense to buy you (which is what you’re asking) so I’d rather lease,” he said.
As I read this in today edition of Reuters, I couldnt help but agree more with this guy. Setting the moral issues aside, this banker was dead on in his analysis. Why would he buy an investment that would inevitably lose its value?
Then I thought, about how he compared this woman to a piece of real estate. While some of you might think his analysis was bit cruel, I wish I could meet the guy and buy him a beer. Why would you buy something that you were positive would lose its value? Or rather, why wouldnt you invest in something that you were certain would increase in value?
If I were to tell you that you could buy a home today, for $700,000 and that itd one day be worth $1 million dollars, would you buy it? Or would you continue to rent the place youre in now and wait until that $700K home was worth $1 million to buy it? My opinion is that buyers will have the best opportunities to buy from now, through around the end of next year. If you think nows a bad time to buy, try asking your neighbors who are trying to sell, what they think. Obviously no one can say with certainty when the market will turn, but is there anyone out there who really thinks San Diego wont be worth more down the road, than it is today?
If you can find me that person, Ill find them a 25 year old spectacularly beautiful wife.
To get a free list of homes for sale in San Diego, or for any other real estate related info, please call Denny Oh at 858-243-2092, or email me.