04-20-2016, 02:40 PM
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#51 (permalink)
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Master EcoModder
Join Date: Jun 2008
Location: Earth
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Quote:
Originally Posted by darcane
One problem with our housing market over the last... 15 years or so is that your experience is the exception, not the rule. You saved up to put 20% down and almost nobody does that on their first home.
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Should the fact that many other people act less than wisely dictate my actions? Any more than the fact that a lot of people sold stocks at a loss in the '08 crash (thereby causing the crash) kept me from buying in the low market? Or that I've been consistently making a profit from credit cards when most people pay interest?
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Today
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04-20-2016, 04:26 PM
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#52 (permalink)
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Master EcoModder
Join Date: Aug 2012
Location: northwest of normal
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The problem with the housing market is the product sucks. Not up to Bucky Fuller standards.
Why shouldn't my home shelter me, feed me, and put money in my pocket. Why?
Not buying into that.
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04-20-2016, 06:10 PM
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#53 (permalink)
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Spaced out...
Join Date: Jul 2013
Location: Dirty Jersey
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Funny stories about credit card dept. Tracking my score on my discover card, my credit rating skyrocketed to something around 850 becuase I forgot about a $3 bill on my account for a couple months. They were charging me $0.50 a month in interest. I think it was in conjunction with a move and I didn't get a bill for that time. Anyway, I paid off the now $4.50 bill and my credit rating dropped to 730ish. Credit card companies are rewarding people who carry debt with this new "credit score" currency.
2nd story: everyone in my family pays off their credit cards every month. My mom forgot the date and was a couple days late one month recently. She called up saying how long she's been a customer and asked for the late fees and interest to be waived and to pay the bill on the phone. They told her that they couldn't waive anything for her becuase she's always paid off her bill every month. In other words, "we haven't made any money off you, this is our 1 shot and we are taking it".
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-Mike
2007 Ford Focus ZX5 - 91k - SGII, pending upper and lower grill bocks - auto trans
1987 Monte Carlo SS - 5.3/4L80E swap - 13.67 @ 106
2007 Ford Focus Estate - 230k - 33mpg - Retired 4/2018
1995 Saturn SL2 - 256K miles - 44mpg - Retired 9/2014
Cost to Operate Spreadsheet for "The New Focus"
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04-20-2016, 06:14 PM
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#54 (permalink)
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Batman Junior
Join Date: Nov 2007
Location: 1000 Islands, Ontario, Canada
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^ Ha! I've done that! (2nd story) Same response from the company.
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04-20-2016, 07:29 PM
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#55 (permalink)
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Corporate imperialist
Join Date: Jul 2011
Location: NewMexico (USA)
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Debt is the new currency.
Some how it all just seems wrong to me.
__________________
1984 chevy suburban, custom made 6.5L diesel turbocharged with a Garrett T76 and Holset HE351VE, 22:1 compression 13psi of intercooled boost.
1989 firebird mostly stock. Aside from the 6-speed manual trans, corvette gen 5 front brakes, 1LE drive shaft, 4th Gen disc brake fbody rear end.
2011 leaf SL, white, portable 240v CHAdeMO, trailer hitch, new batt as of 2014.
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04-20-2016, 07:43 PM
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#56 (permalink)
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(:
Join Date: Jan 2008
Location: up north
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Debt can be a useful, productive instrument but like anything it can be misused and abused.
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04-20-2016, 07:50 PM
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#57 (permalink)
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Human Environmentalist
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Debt, like most things, can be used responsibly or irresponsibly. Starting a business or buying a home often requires debt. When utilized wisely, the burden of paying off the debt is more than offset by profits or reduced expenditures.
Think of it this way; if you were to begin earning an income as an Uber driver, you could rent a car with cash on hand without going into debt, but pay more in the long run. Or, you could take out an auto loan, which has a high upfront cost, but in the long run is the cheaper option.
Debt becomes irresponsible when it's used to pay for nonessential goods such as flat-screen TVs or trendy clothing.
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04-20-2016, 08:02 PM
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#58 (permalink)
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Master EcoModder
Join Date: Aug 2012
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Or groceries.
Quote:
Originally Posted by Google
debt
det/
noun
noun: debt; plural noun: debts
something, typically money, that is owed or due.
the state of owing money.
a feeling of gratitude for a service or favor.
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Quote:
u·su·ry
ˈyo͞oZH(ə)rē/
noun
noun: usury
the illegal action or practice of lending money at unreasonably high rates of interest.
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04-20-2016, 11:07 PM
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#59 (permalink)
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Rat Racer
Join Date: May 2011
Location: Route 16
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Debt is like the Force, it has a light side and a dark side...
__________________
Quote:
Originally Posted by sheepdog44
Transmission type Efficiency
Manual neutral engine off.100% @∞MPG <----- Fun Fact.
Manual 1:1 gear ratio .......98%
CVT belt ............................88%
Automatic .........................86%
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04-21-2016, 01:15 AM
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#60 (permalink)
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Corporate imperialist
Join Date: Jul 2011
Location: NewMexico (USA)
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To me debt is voluntary servitude, if you know what you are getting into. I don't think a lot of these people really know what they are getting into.
__________________
1984 chevy suburban, custom made 6.5L diesel turbocharged with a Garrett T76 and Holset HE351VE, 22:1 compression 13psi of intercooled boost.
1989 firebird mostly stock. Aside from the 6-speed manual trans, corvette gen 5 front brakes, 1LE drive shaft, 4th Gen disc brake fbody rear end.
2011 leaf SL, white, portable 240v CHAdeMO, trailer hitch, new batt as of 2014.
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