/biz/ - Business & Finance

[Anonymous No.19626283]

Why do poor people choose to be poor?

[Anonymous No.19626295]

Why do incels choose to be incels?

[Anonymous No.19626345]

>>19626283
I'm almost glad my Honda got totaled. Don't have to worry about that shit anymore. Always get gap insurance boys!

[Anonymous No.19626355]

>>19626283
cringe

i have 530 credit and still got a better APR than that

[Anonymous No.19626386]

Without them the ponzi scheme economy would collapse.

[Anonymous No.19626428]

>>19626283
I felt like I was getting ripped off with a 1.99% APR on a used Acura 3 years ago......

[Anonymous No.19626474]

>>19626283
I know laws force banks to not deny niggers for loans and they have to adjust their risk accordingly, but this really shouldn't be legal. It's like ripping off a child.

[Anonymous No.19626514]

>>19626474
I used to work with a guy who had just immigrated to the states from egypt. He was like 19. He got a loan on an escalade and he said his interest rate was like 25%. I guess thats what happens when you havr no credit and are young and dumb

[Anonymous No.19626522]

>>19626283
Poor people are poor because they take out mortgages and car loans. They're too busy trying to fit in and making banks richer to have trinkets, when they should be using 90% of their after tax income to invest and living a minimalist lifestyle.

[Anonymous No.19626540]

anyone got the vw tiguan financing pic, I've seen it posted around /o/

financing was ended up costing the dude like 118k for a 30k car, a fucking tiguan lel

[Anonymous No.19626597]

>>19626283
They can't delay gratification because they are literally retarded and they are slaves to materialism.

[Anonymous No.19626619]

>>19626283
why do people rent?

it is because there are retards out there who have no idea what other options they have.

this dumb piece of shit sees "oooooo, new Equinox" and "I can afford the $900/month payment" and doesn't have any clue that if they simply spent 2 years repairing their credit they could have a fucking $70,000 car @ 84 months, 5% interest for the same payment

[Anonymous No.19626634]

>>19626283
>500 down
lawd have mercy

[Anonymous No.19626677]

>>19626619
how is rent anywhere near buying a car on those conditions?

[Anonymous No.19626688]

>>19626283
Jesus Christ I thought my 4% rate on my truck loan was high lmfao

[Anonymous No.19626723]

>>19626283

I just can't even

[Anonymous No.19626767]

>>19626474
they teach you how to calculate interest in middle school american public education
anyone who wasted tax payer money that was spent to educate them about stuff like this and still falls for this deserves every bit of it

[Anonymous No.19626769]

>>19626522
Fucking this.

I am so tired of seeing people with reasonable incomes go full retard in order to put on the appearance of wealth.

And I'm so tired of explaining to my wife that all of her friends that make the same amount of money as us aren't actually richer just because they have an enormous mortgage on a suburban townhouse.

[Anonymous No.19626782]

>>19626619
Or they can just buy something they can afford in cash. Rich people don't put all their money in depreciating assets or pay interest.

[Anonymous No.19626793]

Is that... 34% interest...?

[Anonymous No.19626823]

>>19626769
This totally fucks up the sexual marketplace. We live in a society where the hard workers, high moral people, have lower status, less options. And where the degenerates, and the lazy, get free money this granting them higher status and thus more sexual options. Money really is a magic trick

[Anonymous No.19626828]

>>19626677
over the course of 30 years, a rentcuck will have pissed away $540,000 on rent @ the median rental rate of $1,500/month (pic related) this also assumes rent never goes up (lol)

net gain of negative $540,000

a homeowner will have spent $396,000 on mortgage payments (which include taxes and interest) over the course of 30 years and accrued ~$436 000 in equity (a $1,100 mortgage payment (includes taxes/interest) equates to purchasing a $180,000 house @ 3.5% down and 2.875% interest. home appreciates at the average rate of 3% a year)

net gain of positive $40,000

after 30 years, the homeowner comes out ahead of the rentcuck $580,000.

you can bitch about home repairs and then I'll just calculate the increase in rent and the disparity will be even greater

[Anonymous No.19626838]

>>19626767
Not really, only the most bare bones minimal amount, as in like a single chapter or day dedicated to it in Math class where no one pays attention. Finance isn't really taught in public school and there's no effort to include it in the core curriculum. Oh well, less competition for me.

[Anonymous No.19626855]

>>19626828
But can I get a mortgage with no proof of income and no down payment?

[Anonymous No.19626865]

>>19626283
>Nine Hundred and seventy five dollars and eighty five cents per month for EIGHTY FOUR MONTHS(seven[7] years) for a depreciating asset known as a car (not a house but a fucking car)

[Anonymous No.19626872]

>>19626767
Agreed, I took an entire investing class in highschool. Nobody aside from myself seemed to take any of the advice to heart. They are all broke now and I'm well on my way to becoming a millionaire.

[Anonymous No.19626877]

>>19626782
The fact that rich people waste a shitload of money on boats counters your point

[Anonymous No.19626879]

>>19626855
What kind of fucking wild shithole are you living in where you can rent a place under those circumstances?

[Anonymous No.19626926]

>>19626879
I guess I got into an apartment when I had a job, now I’m just a crypto neet, so on paper it wouldn’t seem like I could qualify, but I can very much make the payments. But I’m not rich enough to pay cash for the entire house.

[Anonymous No.19626930]

>>19626877
>Rich people don't put all their money in depreciating assets or pay interest

>>19626877
>The fact that rich people waste a shitload of money on boats counters your point

He said all, ALL. Learn to read you dumb nigger.

[Anonymous No.19626971]

>>19626877
They lease/rent/charter the boat using internet from assets they own. Personally, the idea of chartering a boat creeps me out, because you never know what Cocaine/heroin parties/hookers/murders took place there.

[Anonymous No.19627009]

>>19626828
>$180k house
>3,5% down gives you 2,8% intertest

are you retard?

[Anonymous No.19627034]

>>19627009
>implying house price and down payments affect interest rates in any way
are you?

[Anonymous No.19627137]

>>19627034
>i cant use the down payment number to invest only to buy a house
>i cant bring myself to save money and invest, so i should buy a house, which forces me to save

yeah nigger, for brainlets that dont know what liquidity is, or even what to do with it, a house is prob a good deal

[Anonymous No.19627181]

How is this pattern called?

[Anonymous No.19627241]

>>19626828
Yeah but homes include other shit like HOA and property tax.. you don't pay that on an apartment.. sure the mortage/rent is $1,100 but it all adds up to be way more than renting an apartment.

[Anonymous No.19627288]

>>19626926
I think if you have a portfolio it can count in lieu of a job just ask man

[Anonymous No.19627330]

>>19626828
>$180,000 house
This fucking guy again, jerking off to his new flyover mortgage on 4chan when this question was answered several years ago

https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html

[Anonymous No.19627391]

>>19627034
Get back in the thread you start every single day, for the last month straight. We already explained to you that median home price is a meaningless statistic at the national level in the US because so little of the market is actually near that value. You don't even own property, because if you did, you wouldn't just shit fling everytime someone asked for a timestamped pic to prove it.

>>19626855
Don't bother replying to that faggot. He's the one who keeps posting RENTKEK SEEETTHHH threads every day.

[Anonymous No.19627451]

Checked my credit on a whim after reading this. SEVEN FIFTEEN BOYS! 33 and I just started building this shit. Thought I was being smart not financing shit paying cash all the time. I have a good job. Week of work = rent and bills most of the time. How to I raise this shit even more even faster? Shitty $300 limit secured card right now I fill my bikes tank up on once or twice a month and just, for the first time in my life, bought a new expensive phone and paying it off monthly. Will that help at all?

[Anonymous No.19627498]

>>19627181
Well shit

[Anonymous No.19627642]

God I love seething rent cucks. Nothing makes my cock harder than watching poor people squirm

[Anonymous No.19627709]

>>19627330
this faggot unironically is subscribed to the Jew York Times hahahahhahahhahahahahhahahahhahahahhahaha no fucking way hahahahhahahhahahhahahhahahhahahahhahahhahhahahahhaha

[Anonymous No.19627775]

>>19627391
im not even the OP, but almost everywhere in america where rent is more than a thousand dollars you can easily get a property where your mortgage is generally equal to your rent for an equivalent property
if you cant comprehend how much of a benefit this is without even accounting for property appreciation youre a literal moron

[Anonymous No.19627935]

>>19627775
No one called you the OP, but you suck a cock, none the less.

>>>19624274
Get back in the thread you started.

[Anonymous No.19628071]

>>19626283
Am I reading this right? Hes going to pay over $82,000 over the course of 7 years for that car?

[Anonymous No.19628155]

>>19628071
Ya that's correct

[Anonymous No.19628244]

>>19628155
Fuck thats sad

[Anonymous No.19628323]

>>19627181
the "down the shitter" pattern

>>19626828
what if i live in Chicago and don't want to be tied in to a fuckload of taxes and gangs/shootings/looting moving into the neighborhood? Isn't renting temporarily to stay mobile a better move than being cemented into an asset that can be difficult to move?

I personally think it's bag holding in its worst form if shit hits the fan. not just because it's your money but also where you live

[Anonymous No.19628391]

>>19628323
Renting isnt a bad thing in some situations. I think if you look back on your life and you spent like 10 years renting in one city, then that was likely a waste of money. I rented most of my life because I moved frequently. Shit didn't hit the fan, so I still would have been better off buying but not a big deal

[Anonymous No.19628418]

>>19628323
people are still building/buying houses like mad out here in DuPage
I was worried about it when I bought a few years ago but it's ended up being a pretty good deal.
Still looking for opportunities to get out of IL eventually.

[Anonymous No.19628419]

>>19628155
And the buyer probably doesn’t even know it

[Anonymous No.19628463]

>>19628391
>>19628418

i would love to own something but just not here. Was thinking about relocating. love chicago but all the politics and lack of safety to start a family have convinced me i should not be here. Suburbs of chicago are/sound just as cucked as well when the taxes are inevitably going to go up. Where can i retreat to? Wisco, Southern IN, FL, AZ, Nashville?

[Anonymous No.19628550]

>>19628463
nashville is the shit, city has amenities and growing industries, weather is nice year-round

mixture of “hot southern belles” and you’re average alt girls so you won’t get bored

and politics-wise its a good balance between the left and right, so most people can have a conversation without getting offended

[Anonymous No.19628571]

>>19628463
Depends I guess. I'm canadian and we're all faggots here. If I were American I would be owner financing a large plot of land and learning how to build fences. Get a herd of cows, build a house, stuff like that. That sounds like an easy thing to do down south. Make sure it's in a gun loving republican state and you should be good.
I have a small farm here because that's all I could really afford in my area. I work part time and get by alright.

[Anonymous No.19628737]

>>19628571
this sounds good as hell.

>>19628550
Never truly been. the wife seems to like it there from when she visited. will be on my list of travel destinations

[Anonymous No.19628740]

>>19626283
Because they cannot see a viable way out of their poverty, so the natural response is to seek short term benefits, even if it's to their detriment in the long term

[Anonymous No.19628796]

>>19628737
Good as hell? As in it sounds good? I like the lifestyle. The nearest city is a 30 minute drive. 5 minute drive to a gas station and basic grocery store. Can hop on the quad and go for a ride when I want. Visit the chicken coop in the morning to collect a basket of eggs and the wife cools breakfast for the family. It's a comfy life.
I paid about 1/4 of what I would pay in the city 30 minutes away. But I got a nice sized house on 5 acres. I have a goat, chickens, couple greenhouses, a 4 car garage, several outbuildings, my own water well, and a complete privacy fence around the land. This is freedom

[Anonymous No.19628847]

>>19628796
yeah like nice. I would love to have enough space to garden & have a couple livestock. would love to get a big smoker too. sold my weber smoker last year

[Anonymous No.19628879]

>>19626345
same

[Anonymous No.19628906]

>>19628847
That's good to hear, anon. I hope that you can realize this goal soon. I've heard that owner financing for properties is very common in America. It's worth looking into. Depending on how ambitious you are, you can get started making real economic value on fertile land and scale it up over time. Especially in the south where you have nice weather year round.

[Anonymous No.19628907]

>>19628463
Depends how far you can realistically go and what your financial situation is. I’ve been looking into NW Indiana if I were to still work where I do in the city. Otherwise Nashville and the surrounding suburbs have been pretty appealing. As has been Idaho/Wyoming area. Either way, fuck this state

[Anonymous No.19628926]

>>19626283
Literally illegal usury in my state
Where is this? Was this accepted or just quoted internally?
>>19626838
Honestly it doesn't need to be taught, algebra alone is sufficient because basic financials are just algebra at most
Especially considering a calculator that can do all this for you and will last your lifetime is $30 (TI-BAII)
So even if you're mega lazy and dumb you can still figure out interest
And even if you're really beyond help just running the simple interest on that, which is just x*y, it is obviously exorbitant
>>19627391
More houses are at the median than off the median, that's the definition of median

[Anonymous No.19628953]

>>19628907
agreed fuck this state. packing my parachute and staying relatively liquid at the moment. God speed anon

[Anonymous No.19630112]

>>19628926
>Be teacher grading exams
>Half the class is in Mensa, half are tards
>Make a histogram of the grades and see that its practically bimodal, with almost everyone either in the 95-100 bin or the 45-50 bin.
>median score sits in the 70-75 bin
>No body is actually in that bin

Obviously oversimplified, but you need to understand that not every statistic is useful, even it is mathematically true. You need to take your distribution into account

[Anonymous No.19630249]

>>19626283
84months?! In what country can you go 84months. I cant even begin to tell how fucked this person is.

[Anonymous No.19630271]

>>19626769
Why are al women this retarded. You know how many times ive had to explain youtubers lives arent real. Hope they get it soon.

[Anonymous No.19630411]

>>19627181
The chad

[Anonymous No.19630655]

>>19627181

re-animation

[Anonymous No.19630738]

IMAGINE, YEP IMAGINE taking out a loan on a Depreciating Object.

That goes for everyone. Only cash or lease.

[Anonymous No.19631247]

>>19626828

[Anonymous No.19631981]

>>19626828
you've had enough of making threads so you have to ruin someone elses?