Paying off the PSL as opposed to paying down a mortgage you have acquired as a result of purchasing your first home is a total loser by comparison. First of all, you're paying off a non-appreciating "asset" by paying off a PSL. PSLs will go down in value as the years go by, because people will realize that a new stadium will have to eventually be built again and thus, a totally new set of PSLs will be sold and the old ones will become absolutely worthless over time. In comparison, by paying down a house mortgage, you are paying down a truly appreciating asset. Also, it's a payment that is tax deductable (the interest), which your PSL payment is not. The home will go up in value, not down, especially if you do it now, when all real estate is 20%-40% off. Secondly, there is no sense holding onto a PSL as if it were not replaceable. You could sell your PSLs, all of them, and buy one back at any time during your lifetime, perhaps one that is even closer to the 50, etc. It's not like they've sold a limited number of shares to Vince Lombardi stadium and you will perhaps never get an opportunity again to buy a share. PSLs are and will be a dime a dozen, especially if we hit the skids. So holding onto a PSL in the event that you will have kids "or what not" is not a legitimate reason to refrain from unloading. The third point involves credit. You will learn later in life that your credit and credit score is everything. Paying off a worthless PSL does not enhance your credit. In fact, it hurts it, because when you do eventually apply for a mortgage once you have your kids "or what not," this will have to be stated on your mortgage application. The decision to grant you a mortgage or not hinges on whatever revolving debt you have... balances as well as the actual monthly payments. Lenders view things like a PSL, credit card debt and other revolving credit as a negative, because they want to know that your mortgage payment will be your primary concern. In other words, a PSL payment (and annual commitment to buy season tickets) could actually become an anchor in your ability to buy a home! So this is a major thing to look at. Factor in all of the above and then look yourself in the mirror and ask, "Am I being really truthful with myself that I need this PSL in lieu of what 227's above points are? Wouldn't buying a home be a much better goal?" Now, I realize you don't want to take a loss. Yes, that sort of thing always smarts, because on some level you are admitting to yourself that you fucked up. But do not look at it that way... tune that out. Ever heard the expression, "Your first loss is your best loss?" If you sell the PSLs (all of them) right now, your loss may not be a great as if the Jets go in the tank badly and people are buying them for $.50 on a dollar. As the price continues to diminish, it becomes harder and harder to sell, to the point where you are forever stuck but good with no way out. Traders use this exit strategy all the time. Cut your losses quickly and run. Use the cash to buy something else that's a better performer. In this case, the house is by far the better performer. No comparison whatsoever. You can buy a house for $.65 on a dollar right now and yes, you took a small loss on your PSLs but you are out of them, no longer obligated, and can take advantage of an ever great asset (with appreciation too!) How about that for a concept? Something that increases in value as opposed to something decreasing? And now you will be able to finance this home because you can show the lender that you are relatively debt-free of nonsense liike this and are serious about paying them back! The whole thing is a total no brainer. And no one says you can't continue going to Jets games. You can cherry-pick whatever the hell you want. And you're sitting in the stand having your cake and eating it too and all your friends are going, "This guy is one smart son of a bitch. He unloaded his PSLs and bought a fucking house that has gone up $60,000 in the last year and he's still abel to go to Jets games like nothing ever happened! What a smart bastard for selling his PSLs when he did!"
Awesome point. Never thought about it that way, and am surprised this aspect hasn't been mentioned before (from what I've seen). It certainly is something younger fans should consider when jumping on the NFL bandwagon. PSL's are great - for the teams selling them, and for those with the DI who can then jump ahead of most of us into the better seats. But they're not for everyone. If the payments didn't hinder my lifestyle in the slightest, I might have done it. Think about this stadium - we can all agree the big money and slick design features of New Meadowlands Stadium went into the suites, lounges and clubs, which are cash machines for the team owners. These "nice" features of the stadium were paid for by the PSL seat owners - most of whom who aren't using the suites and clubs. It's a shitty arrangement for fans.
U R factoring in that at this moment property (homes) are just as bad investment as PSLs since home prices in many cases are down 30/40% from there highs? :sad:
can't wait for the "Next Stadium" to be built in the place of the "Original Stadium". parking completely around the stadium...oh man can't wait
In the contract I have with him I do not need to give him the tickets nor do I get the money until I have the tickets. If I decide to sell my PSL and tickets than I dont get the money and he doesnt get the tickets. I am trying to sell PSL by Aug if it works great if not oh well next year!
LOL I understand But I will not sell My PSL for a loss when I am making easy money on the tickets selling them to a broker. This year I will get 1400 for doing nothing. If jets suck then oh well I made 1400 towards psl. Why would I sell at a loss and than have some guy make money on the tickets that I just sold at a loss? doesnt work out in my mind. I will keep the PSL until there is a day where I cant sell for face value. At that point I will sell PSL for the appropriate price with depreciation. Everyone has a different view on PSL and I think I have to factor in everyone's anger towards them because they had bad ass seats for free and now have to pay for them. Its how stadiums are now. This stadium should last 30 years. so even if I ride it out for 10 years and sell PSL for half im cool with it. No need to take a loss on year 3 when im making money on the tickets.
thats the problem. these bad ass seats should be occupied with the same person game in and game out,creating our Home Field Advantage.instead its occupied with a different person every week no comradery,no bonds made no tailgates formed.instead u put the money up sell for a profit and in turn a broker sells the big games for even bigger profits sending ticket prices up. and i despise this.
I am a single 23 year old kid! I would love to go to every game but moving here from cincinnati and also Girlfriend and I breaking up What am I gonna do go alone to every game?? Family doesnt want to go to every game just pick and choice. That is why I am trying to unload my 4 PSL to a true jets fan because they are a better deal than what the jets are offering and keep 4. Reason why I bought 8 was because 4 seats opened up after I bought 4 closer to the field and wanted them. They wouldnt let me buy them unless I kept my 4. So I said ok. Havent taken a loss so not too concerned. Sorry im not your average season ticket holder. I am a huge jets fan go to most of games and all of playoffs and travel. I am a young Masters in Taxation student so I see money and if I seem like a broker and not your average fan sorry. I am trying to sell 4 psl to a real fan so it is a fair and good deal to the average person. Not trying to make money on PSL or anything.
blah blah blah blah i knew this guy who had 24 jets season tickets in his families name and was a Giants fan. they sold them off every year at a profit.disgusted me to no end.hate the fuckin guy. he actually got scammed once by someone who showed the Jets that he bought the same seat 3 years in a row with a check for the season. the jets transferred the seats into the other persons name.pretty funny but still a douchebag
Yeap, that's what Woody and the Jets don't understand. The relationships we made during our 20+ years at the old place are gone and we ain't making new ones because its different people every week. I saw a persons son come to the games when he 10 years old and at some point he was going to college and showing up during the holiday's. That really hit home, that these people who I saw 8 days a year were like a family. I didn't even know most names, we had nicknames for them, but I hugged them a 100 times a season and was so happy to see them opening day and know they were still alive. NO professional sport had this and now its gone. I really miss the people in my old section and the Owners are clueless to what they did
i am so glad someone else understands. thank you i had remember growing up and during the cold games my dad and the guys around us sharing liquor to stay warm.the guys asking me about school and little league and remembering about my schools and such. then the same with me when i became an adult .rows in front behind and to either side i had a friendship.their kids their friends we just build a bond. now the only thing built is a money sucking pit and it really sucks.its like we are addicts trying to reach that high again.
Better sell them very, very fast because after this season they will be worth zippo, nada, nothing :sad:
The difference it appears to be between the NYGs fans & NYJ fans is that almost 100% of the NYGs fans paid there money for the PSLs whereas most of the NYJ old time fans decided NOT to pay for the PSLs because U never hear any bitching or moaning from the NYGs fans & last I looked they are using the same stadium as the NYJ fans :sad:
lol they will be worth something even 10 years from now not too worried!! They will be worth nothing when the stadium is knocked down
hmm and what is the difference between bitching and moaning and being ok with paying for a PSl? Championships w/Home playoff games
Champ and I have been around a little longer than 23 years, so we know what happens when the Jets tank, especially if it's season after season. Imagine the worst, then multiply that by 3. There were seasons where I couldn't give the tickets away (and I am not kidding). Called up a friend to give him a game and he was like, "Well, yeah, I don't know... yeah, I guess I'll take them." Then he calls up Saturday night and tells me one of the kids isn't feeling well so never mind, he's not coming over to pick up the tix because he's not going. So I ate the tickets of course, as usual. You have no idea of the agony with ticket resales prices if your season is 2-7 and collapsing. And although I have no experience with what that would do to PSL prices, I'm sure it would be just as devastating.
Yea I could see that being an issue. Honestly I have no clue what this season will bring with TEBOW, that is why I am selling my season tickets to a broker and making 1400 on 8 tickets. With fans wanting Tebow and who knows what happens this year I dont want to see jets go 2-7 and then rest of games I cant sell. So that is why im doing that this year. Worst case a broker may buy tickets for face value if not then oh well I guess I have alot of friends who want to go and have fun and I live it up for a couple of years lol
