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re: Why do OT Ballers hate diamonds and new cars?
Posted on 4/23/18 at 10:50 am to Pecker
Posted on 4/23/18 at 10:50 am to Pecker
quote:
As far as you're concerned the item is actually worth more (has more value to you) than you paid for it, or you would have kept your money. That's how the market works
Yep, the terms "overpriced", "unfair margin", or "artificial markup" are meaningless. You can choose to mark up your product 300% percent if it sells it is priced correctly, the amount of net profit the seller makes is irrelevant to what a product should sell for.
0
Posted on 4/23/18 at 10:51 am to EA6B
quote:even if this is true, which I'm not conceding, it's not out of line with the average American. Most have nothing, or next to nothing, saved.
Show me 10 households with higher end houses, two or more late model cars that are financed, and all the other typical trappings of the upper middle class, and 7 of those households will have no savings, no retirement planning, no emergency fund, all income goes to servicing debt and expenses, those are the people that are "wron
Posted on 4/23/18 at 10:53 am to Mingo Was His NameO
quote:
People over extending themselves and not saving anything for retirement has no effect on other people? That is patently false.
I'd say that their "overspending" actually helps more people than it supposedly hurts by dumping more money into the economy.
Posted on 4/23/18 at 10:53 am to TH03
quote:
They don’t like new cars and diamond rings because they can’t afford them
"Afford" is a very subjective thing.
Posted on 4/23/18 at 10:53 am to Mingo Was His NameO
quote:
You're retarded
Posted on 4/23/18 at 10:55 am to LNCHBOX
quote:
I'd say that their "overspending" actually helps more people than it supposedly hurts by dumping more money into the economy
I'd say this may be stupider than your original statement. I hope you don't have access to anyone else's money because you're re a true imbecile.
Posted on 4/23/18 at 10:56 am to RogerTheShrubber
Not really. You can either afford it or not. Buying it with shitty financing doesn't mean you can afford it.
Posted on 4/23/18 at 10:56 am to RogerTheShrubber
quote:
They don’t like new cars and diamond rings because they can’t afford them
"Afford" is a very subjective thing.
To most people today "afford" means they are able to make the monthly payments.
Posted on 4/23/18 at 10:57 am to EA6B
That doesn't change the definition of the word.
Posted on 4/23/18 at 10:58 am to Mingo Was His NameO
quote:
I'd say this may be stupider than your original statement. I hope you don't have access to anyone else's money because you're re a true imbecile.
I love insults with nothing backing them up.
Posted on 4/23/18 at 10:58 am to EA6B
quote:
To most people today "afford" means they are able to make the monthly payments.
Correct. If the bank will lend, they can afford. That's how you end up with a high income and still broke in your 20's and 30's.
Posted on 4/23/18 at 10:58 am to EA6B
quote:
To most people today "afford" means they are able to make the monthly payments.
Sure hope you bought your house in cash. And if you're renting, just GTFO.
Posted on 4/23/18 at 10:59 am to LNCHBOX
Comparing cars to homes? 
Posted on 4/23/18 at 11:00 am to LNCHBOX
quote:
I love insults with nothing backing them up.
There's no reason to try to reason or educate you. You'll move the goalposts or dispute empirical facts so what's the point?
Posted on 4/23/18 at 11:01 am to RogerTheShrubber
quote:
Correct. If the bank will lend, they can afford
The mortgage crisis says hello.
Posted on 4/23/18 at 11:01 am to EA6B
quote:
Show me 10 households with higher end houses, two or more late model cars that are financed, and all the other typical trappings of the upper middle class, and 7 of those households will have no savings, no retirement planning, no emergency fund, all income goes to servicing debt and expenses, those are the people that are "wrong".
No argument there. That’s basically what I said on the first page.
I’m talking about the three remaining households. If they chose to buy and finance a brand new car, good for them. If they chose to buy a cheaper used car, good for them.
Posted on 4/23/18 at 11:02 am to LNCHBOX
quote:
Sure hope you bought your house in cash.
Why?
I qualify (according to mortgage companies) for a much larger payment than I'm willing to make. To do so would put a severe strain on my finances. So, I purchase something that I can really afford.
Just because they bank will lend you the money to make an $800 truck payment doesn't mean you can really afford it.
Posted on 4/23/18 at 11:05 am to LNCHBOX
quote:
Sure hope you bought your house in cash. And if you're renting, just GTFO.
It is called having a positive and growing equity to debt ratio, and too many people that can "afford" new cars, and diamonds don't.
This post was edited on 4/23/18 at 11:06 am
Posted on 4/23/18 at 11:23 am to LNCHBOX
quote:
I'd say that their "overspending" actually helps more people than it supposedly hurts by dumping more money into the economy.
I think the housing collapse in 2008 demonstrates that the economy doesn’t work this way.
This post was edited on 4/23/18 at 11:23 am
Posted on 4/23/18 at 11:28 am to RogerTheShrubber
quote:
That's how you end up with a high income and still broke in your 20's and 30's.
This is a problem with Americans in all income brackets, but more so those with smaller incomes.
I love how we're acting as if this money management issue is one that is ravaging the households making greater than $200k a year.
We've now moved into a strange territory here where we are supposed to look at the woman driving a new Porsche Panamera and assume she can't afford it because it's "too expensive" and if I can't afford it then you can't afford it.
I would worry less about the people with high income who buy nice things, and more about the people making a modest income trying to buy redneck status symbols.
This post was edited on 4/23/18 at 11:33 am
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