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Transition is going to crash housing prices in metropolitan areas

By dunnross   Follow   Sat, 18 Feb 2012, 11:15am   1,034 views   6 comments
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Transition Terrafugia - the new flying car. No more need to live close to your work. You can live anywhere you want, even in the ex-burbs, and fly to work in less than 45 minutes:

http://www.terrafugia.com/Montage.html

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1. iwog Follow Befriend (48) 274 threads 12,576 comments 47 male Lafayette, CA Premium

   1   2:57pm Sat 18 Feb 2012   Share   Quote   Permalink   Like (2)   Dislike   Right.....an airplane that costs $279,000 and has a cruising speed of 104 mph and is illegal to land or take off on public roads and requires a pilot's license......is going to crash housing prices. Calling your connection to reality tenuous is way too generous.

2. drew_eckhardt Follow Befriend (1) 2 threads 324 comments Sunnyvale, CA

   2   5:59pm Sat 18 Feb 2012   Share   Quote   Permalink   Like   Dislike   Nope. Buying the plane takes $280,000 and if you don't have cash it'll be something like a 20 year loan with 20% down at 7.5%. Then there's insurance that's likely to run $5K a year for all hazards (insuring something which costs as much as a house and is likely to crash isn't cheap). That engine is rated 1500 hours between over-hauls so every four years you're spending $15,000 which you could call $4K/year. $1000 isn't out of line for an annual inspection. With personal property taxes you end up at a $3000/month total. With 1.25% property tax and 3.75% 30 year loans that covers $600K of house price. This ignores the mandated overhaul and replacement intervals on other time limited components. It ignores traffic being worse with bad weather (it can take a few hours to make it the 10 miles across Lake Washington outside Seattle, WA with some snow or too much rain) and that flying in those conditions (when otherwise prudent) requires an aircraft equipped for flight in instrument conditions plus the appropriate rating and currency. It also doesn't apply to people who lack the cajones to fly themselves. If you can pass an FAA medical (anti-depressants and DUI convictions kill that) and wanted to you'd be much better off financially with a 1960 Cessna 172 and a couple of used 3-series for the non-flying parts of your commute and that hasn't put a lid on home places around desirable places to work.

3. Nomograph Follow Befriend (1) 104 threads 2,851 comments

   3   6:06pm Sat 18 Feb 2012   Share   Quote   Permalink   Like   Dislike   dunnross says Transition is going to crash housing prices in metropolitan areas Nominated.

4. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

   4   8:04pm Sat 18 Feb 2012   Share   Quote   Permalink   Like   Dislike   iwog says and is illegal to land or take off on public roads and requires a pilot's license......is going to crash housing prices. All those features are coming sooner than you think, at prices much more affordable than your house in Cupertino.

5. LarryPatrickMaloney Follow Befriend (13) 58 threads 166 comments Mountain View, CA LarryPatrickMaloney's website

   5   10:36pm Sat 18 Feb 2012   Share   Quote   Permalink   Like   Dislike   iwog says Right.....an airplane that costs $279,000 and has a cruising speed of 104 mph and is illegal to land or take off on public roads and requires a pilot's license......is going to crash housing prices. Calling your connection to reality tenuous is way too generous. iWog is right! (Did hell just freeze over? :) (Probably a marketing ploy)

6. HousingBoom Follow Befriend (1) 48 threads 172 comments

   6   11:06pm Sat 18 Feb 2012   Share   Quote   Permalink   Like   Dislike   iwog says Right.....an airplane that costs $279,000 and has a cruising speed of 104 mph and is illegal to land or take off on public roads and requires a pilot's license......is going to crash housing prices. Calling your connection to reality tenuous is way too generous. I agree with Iwog. omg, what the heck did I just say?