Money & Economics

Sybertiger said:
From what I can tell he didn't get the first part right. I don't pay attention to my FICO score. Not sure how I got it. It's north of 800 and I haven't paid $100K in interest in fact I've probably paid a lot less than a lot of people who scores are in the 600s. The only money I ever borrowed was for student loan, tractor and home mortgage. Student loan was paid off fairly quickly, the tractor money was borrowed because it had 0 interest for 3 years so I used John Deere's money for free and invested my money. The home mortgage was paid off in 8 years. It was only around a $110K and was paid back by doubling the payments then writing a check after I got tired of sending in money every month. I use CC for everything but pay it off every month so I actually get paid 2-5% to use their money. From what I can tell the FICO score is a result of me paying off my obligations on time mixed in with the credit line I have versus what amount of it I use then pay off every month plus a history of paying off larger loans? Probably could drive my FICO higher by getting rid of CCs I have but never use. Like I said, I'm aware of my score but never took the time to figure it out how/why it is what it is. Who am I to argue with Dave Ramesy but I'm sure he's just generalizing.
Click to expand...
Yeah, not quite sure how the scoring works. I worked for a few companies in the Credit/Collection Depts. where we pulled credit reports daily, 100s of them. I just remember we would ignore any medical debts :). I loved that. This was in the 90s, hospitals/doctors has been screwing us for a long time.

My guess is it is more about negative credit (Bad Debt), in that there algorithm focuses on the bad first. I am sure there are alot of percentage/factors on everything from income level to years/amount of time credit is established.

We are like you, CC companies hate us because we pay ours off every month too, we own our home so Mortgage companies hate us. Anyone trying to extend credit hate us. :)

I was even told once that some dating services do credit checks, you ain't getting a date unless you have a High Credit score, lol

The world revolves around money...
 
  • Like
Reactions: mat200, bigredfish and johnfitz
I’m good on physical

I bought some GLD at 320.40
 
  • Like
Reactions: mat200 and David L
Last edited:
^^^^^
But unemployment numbers will be portrayed as “normal” :rolleyes:
 
  • Sad
Reactions: David L
 
  • Like
Reactions: David L and Sybertiger
 
  • Like
Reactions: David L
Reality is beginning to set in. By the end of October it'll be in your face

 
  • Like
Reactions: David L and Sybertiger
 
  • Like
Reactions: David L
 
  • Like
Reactions: David L
I would think prices will be dropping

 
  • Like
Reactions: Sybertiger and David L
 
  • Like
Reactions: Sybertiger and David L
bigredfish said:
I would think prices will be dropping

Click to expand...

Last year close to this time, the market was flooded too, in our area. It was definitely a Buyers market. Since there was so much inventory which our Realtor warned us of, Buyers had the upper hand. No one was buying at asking price, like the old days. We overpriced our house like everyone else, leaving room to negotiate/lower. We were happy with our final sale price. We were spot on, $2k over our bottom price.

A neighbor of our son-in-law here bought 20 acres a couple of years ago and built a house on it, now that they are up here permanently, they are selling their house in the same area we sold ours in. They told us 2 weekends ago they were in contract, but we just found out Buyers loan got denied.

Point is, yes when there is over stock, prices will lower. We were at 76 days when we sold. We averaged 3 showings a week and we had 13 open houses on the weekends. We had a pool too, which eliminated a percentage of Buyers. Our daughter was selling their house at the same time, 4k sq ft. house with pool too, they went 180 days, actually had to extend their Realtor contract to cover the selling period of one month. They ended up dropping their price, alot, $90k in those 180 days. The difference with their sell is they had a new house waiting with a Mortgage, they were becoming desperate, dropped $30k to get final sale.
 
Last edited:
 
 
  • Wow
Reactions: Sybertiger
bigredfish said:
Click to expand...

The quit rate dropping means that construction workers aren't jumping to better construction opportunities? They are scared and staying at their current construction job?
 
That's the implication
 
  • Like
Reactions: Sybertiger

S&P 500 scores new record close, Dow and Nasdaq climb on optimism around Friday's jobs report and a possible September rate cut​

 
 
  • Like
Reactions: David L and tigerwillow1
bigredfish said:
Click to expand...

Looking good. Federal employees....130K terminated plus 150K buyout = 280K so 100K not accounted for. Hopefully USAID related. LOL
 
  • Like
Reactions: David L and tigerwillow1
You must log in or register to reply here.
Top Bottom