Trailer's Going Down!

Doug's brother's decision to invest in a double wide trailer for his first house is about to put him on a nose dive.

QUESTION: Doug’s 20-year-old brother is getting married in August. They make $35,000 a year and he’s starting a deal to buy a $70,000 double wide trailer. What can Doug say to convince him not to buy it? Take a drive, says Dave, and show him what happens to trailers.

ANSWER: Take him on a drive and show him double wide trailers from a few years ago. A trailer is the largest thing you can own that goes down in value. It’s a car that you sleep in. A $70,000 double wide trailer that you bought 3 years ago would be worth about $25,000 now. Have him get out of this deal right now.