The Warped Perception of Status

 

It's intriguing how frequently the term 'unaffordable' is used in this country. Cars and housing are deemed unaffordable, a sentiment that has persisted for as long as this writer can remember. It raises the question of why some people finance a car over seven years and a house over thirty years.  In other words, why did people ever agree to pay so much for a house or a car in the first place?

Mortgage means "death note". 

Should it take almost half a decade to pay off a car?  Should it take most of our lives to pay off a place to live? I've always thought that these transactions were odd. Everything would be cash on the barrel in Ted world.     

The enigma of new cars always gives me pause for thought. The moment a vehicle is driven off the dealer's lot, it is considered used, and its value diminishes. Despite careful maintenance and protection from the elements, most vehicles depreciate approximately 50 percent within five years. The pandemic caused a short halt to this fact, but things always snap back.

 However, people often retain their Toyota SUVs for extended periods, averaging 11 years, as indicated by research. And that's a long time to most Americans. Consequently, one could purchase an SUV and opt to replace it just three years after paying it off!  An expensive Wash, Rinse, Repeat. We want to do better than that. 

Looking at places to live, many people don't stay in one location for long. Given the high transaction fees, it begs the question: why purchase a permanent home if there's a likelihood of moving within 5 to 15 years? This blog will later explore the notion that owning a primary residence often offers little advantage over renting. Real estate professionals frequently debate this topic, with some even suggesting that homes are not assets but liabilities. I find that idea interesting. Understanding human behavior in this context can be quite confusing.

It seems it's all about appearances for neighbors, family, and friends, right? That's pretty much the definition of status, isn't it? Pride used to be a struggle for us too. Now in retirement, we couldn't care less.

Lately, our focus has been solely on maintenance for house and cars. The Camry has just surpassed 50,000 miles. Is it time to change the transmission fluid, or should we wait until it reaches 60,000 miles? As for the Highlander, it last had its timing belt changed at 80,000 miles in 2015. It's due for another at 160,000 miles or in years? Hmm.

When should we get the furnace serviced before next winter?

That reflects the mindset of initiated individuals who have experienced the downsides of getting caught up in status through purchasing.  We think of maintaining what we have, not spending to replace all of the time. There are significant savings there.

 Let's have some fun ruminating about this status mindset with just cars:

This thinking is how we start the temporary insanity. Our cars are 10 and 18 years old. I saw an ad on the deception box (TV) or internet that proposed, typically, cars are expected to last 150,000 miles or ten years, whichever comes first. This suggests that our cars may soon become unreliable, and it would be wise to consider replacing them as soon as possible. Additionally, the lower bumper on the Camry is damaged from scraping against curbs.

The Toyota Highlander's paint is shiny and remains in excellent condition; however, its design has become outdated. It appears rather plain when compared to the dynamic curves, bold front grilles, and prominent headlights and taillights featured on newer SUV models. It's also almost invisible in a parking lot being a beige or gold color.

Additionally, our good friends Ralph and Roxy in Washington have recently purchased a 2023 Toyota Highlander. They've also entered retirement. The vehicle's cross-traffic alert, lane departure warning, and emergency braking features are quite impressive. It's important to prioritize safety while driving, especially as we get older. Their acquisition of a brand-new SUV somehow leaves us feeling like we've missed out or inadequate. We have excellent credit too.

Our neighbors recently acquired a newer Toyota 4Runner. According to Consumer Reports, the 4Runner ranks as the most reliable SUV available. Unlike the unibody structure of the Highlander, the 4Runner features a body-on-frame design. These 4Runners are known to last up to 500,000 miles with minimal maintenance. Purchasing a new 4Runner would not only elevate our status above Ralph and Roxy but also equal the Joneses next door. Indeed, two birds with one stone. 

However, this mindset contributes to the widespread financial issues, including debt and stress, among many Americans.

Remember, the Highlander and Camry are working flawlessly, but we must create a context in our mind to replace them.  The opposite of logical thinking.

Let's examine this flawed logic. We must break this cycle of thinking, or we will face painful consequences. A decade ago, the 2005-2006 Toyota Highlander Limited and its Hybrid variant were the most reliable SUVs available. And they still hold that reputation. On Cars.com, a 2006 Toyota Highlander Limited is listed with a reliability score of 4.9 out of 5.0. Interestingly, a newer 4Runner also holds a reliability score of 4.9 out of 5 on the same site.  Understand that the 1st Generation Highlander still holds this high score, and scores typically drop as cars age. Will the 4Runner maintain this high score?  We don't have a crystal ball. 

Furthermore, My Car Angel and Scotty Kilmer on YouTube state that, "in my opinion these are some of the best Japanese cars ever built," and "these things run forever, I've seen them with 400 to 500 thousand miles". And so far, both YouTubers have been dead accurate.

So much for leveling up in vehicle, eh?  Only in the status seekers mind.

The 4Runner is more than an SUV; it's essentially a truck with comparable fuel efficiency. It's designed for the serious off-roader who prefers cruising around the campsite over just reaching it. In contrast, the Highlander navigates effortlessly, ideal for urban dwellers like us. It's akin to a lifted Toyota Camry, offering all the associated benefits, which is just what we need. 

The latest Highlander model features a turbocharged four-cylinder engine. Historically, turbocharged cars have had less reliability. To add to the concerns, Highlanders are no longer manufactured in Japan, which, in my experience, makes a noticeable difference. https://tfarabees.blogspot.com/2024/04/how-long-will-my-toyota-last.htm

 When we are cycling in a distorted view of status, logical explanations like the ones above are unwelcome. They bounce right off as we spin. We just sense that something is amiss and believe it won't be resolved until there is money spent. If not, this sense of depression will persist like a burr in our saddle.

The status issue plagues the insecure.  And most of us have insecurities. We think friends, family, and neighbors will notice and be impressed with our whatever.  A few shallow people might be impressed, but not as much as we like to think.  They are thinking more of their whatever.

I'm sorry to 'rain on the parade' of why most Americans get happy buying something new.  But most people don't really notice or care what we drive from point A to point B. Most modern cars come with a lot of luxuries like air-conditioning, sophisticated electronic gadgets including a kicking stereo, and on and on.  And does it take a huge salary to get these gadgets anymore?  Nope.  Just a ball point pen.

Indeed, it's said that over 70 percent of those driving expensive vehicles are merely posing. In Texas, there's a saying for this: "Big Hat, No Cattle." Recently, I encountered a young man in a parking lot climbing into an enormous, glossy black hyper-diesel truck. It seemed lifted too high to be of any good hauling use. Curious, I inquired, "How can you afford such a vehicle?" He replied with a grin, "The bank says I can," before speeding off with the roar of a drag racer.  

What are our real needs? This blogger has discovered that there are some real needs in this world, just not the ones indoctrinated into the American mindset.  And they are very affordable.

At this moment, I understand that every individual requires hope, love, oxygen, water, food, clothing, and protection from the elements. According to the Bible, to achieve contentment, we need only strive to secure the latter four necessities. The first three are provided by God, even to those who are atheistic. In America, access to clean drinking water and affordable food does not require much work. 

In fact, people consume strange gross food in this country, despite having the financial means to choose healthier options. That's why we have hot dogs and McDonalds. Yuck! 

Here is what I interpret when someone says that "The American Dream is Over!" or it's Unaffordable to live in America now!"

I'll use myself as an example.  Ready? 

As a retired schoolteacher residing in Northwest Montana, I'm finding the cost of living increasingly prohibitive. Cabins on the lake, a mere five minutes from my home, are priced in the millions. At the local Toyota dealer, a new 4Runner is listed at around $50,000. Nearby, a ranch is on the market for 6 million dollars. Consequently, we've had to significantly reduce dining out. On average, a meal at Montana Club, Famous Dave's Barbecue, or Hu Hot Mongolian Grill costs us about 70 dollars each time.  

What happened to the American Dream? 

Oh, the untold suffering, eh?

That's what I hear from ads and people with a 'warped perspective of status'. They will almost always continue to struggle financially.  We'll talk about slow and steady gains in this blog.

I hope I communicated effectively the last few days.  It's been hard to concentrate.  My adorable grandson has a virus or something. Bless his sweet little heart.  The last time I got blasted by a baby was 1994.

I'm tired......................................need to take a shower.