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Reducing transactional costs for socially desirable behaviors is nearly always a good thing, and mortgage brokers are an even lower value-add than realtors (who are wildly overpaid) My dream is to see the 6% realtor and commissioned, negotiable-price new car sales disappear in my lifetime.
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Feb 8, 2016 05:35
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capitalism_is_unsustainable.avi
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Feb 8, 2016 06:17
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canyoneer posted:Reducing transactional costs for socially desirable behaviors is nearly always a good thing, and mortgage brokers are an even lower value-add than realtors (who are wildly overpaid) That dream may actually be realistic.
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Feb 8, 2016 06:29
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Uhh ... I don't mean to be your anti-consumerism spoil-sport, but that's exactly how our economic system actually works. Granted, that money wouldn't go to wooden leg-makers working in a manufactory, but to IKEA, and to huge sweatshops in Taiwan, and most of the profits would never even make it to the workers (especially in the US), but yeah, buying poo poo so that other people earn money and can buy buy poo poo is where our material wealth comes from, and is also where your stock index fund profits come from (after adjustment for inflation and population growth). It could be sustainable if all non-digital products were built from recycled material and not pillaged from Earth, but that would be more expensive (resulting in fewer consumerist poo poo), so it's not gonna happen.
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Feb 8, 2016 06:36
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CombatInformatiker posted:Uhh ... I don't mean to be your anti-consumerism spoil-sport, but that's exactly how our economic system actually works. If that money weren't spent on the finance industry it would go to other things (like wooden legs) more rapidly.
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Feb 8, 2016 09:00
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A good old fashioned It Came From Reddit quote:Best In the comments it is revealed that the poster's 10% tithing is nonnegotiable.
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Feb 8, 2016 13:04
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That guy is beyond hosed. Maybe make sure you're making 150k a year before you have six kids. What the gently caress is wrong with people.
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Feb 8, 2016 14:50
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Religion trumps everything in some peoples' minds. If he's Mormon, isn't there a very good chance that his community will prop up his finances?
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Feb 8, 2016 15:09
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 What they're describing in this commercial is a bubble, isn't it?
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Feb 8, 2016 15:34
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Not a Children posted:Religion trumps everything in some peoples' minds. My parents manage some rental properties and the tenants' bishops pays the rent for some of them.
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Feb 8, 2016 15:50
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I don't know, that doesn't seem that egregious to me. That's just GDP growth. People legitimately do need some things when they buy a house. Granted, plenty of people go way overboard with that. I don't know if the product succeeds in making the mortgage process easier, but if it does I don't think there's a downside to removing needlessly complicated barriers to homeownership (provided of course underwriting standards aren't lowered, but that is tangential to rejigging the application paperwork process). I realize homeownership isn't the right choice for everyone (I don't own a house), but if someone wants to, they're not going to be dissuaded by a lender's salesperson-I-mean-loan-officer they're going to be dissuaded by underwriting.
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Feb 8, 2016 15:51
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A dude working in a factory that makes the little legs for ikea furniture probably shouldn't be buying a house though for sure, this isn't 1955
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Feb 8, 2016 16:03
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DrSunshine posted:
What they're describing is a bubble or at least an economy that is overly reliant on home ownership (i.e. the US in 2005). When the bubble popped in 2007 a lot of businesses that should have only been tangentially impacted were hit hard because their products happened to be in strong demand for new homes (appliances, lighting, furniture, carpets). For context, new housing is historically 4.5% of GDP. During the boom years it was over 6%. After the crash it was 2%. Regardless of what BFC experts say, home ownership is fantastic because it implies borrowers are wealthy enough to purchase homes. But it still shouldn't exceed 4 to 5% of the economy. So if those wooden leg craftsmen are able to buy homes because they have more business (and not just sales to new homeowners) then it's good. Otherwise you're back to 2005.
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Feb 8, 2016 16:04
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I disagree - I don't think the fact that someone owns their home means they are wealthy enough to purchase a home. It just means someone lent them money to buy a home. Lots of people buy homes they can't afford (see: 2008). A wooden leg craftsman might be able to get a mortgage from a shady broker but it certainly doesn't mean they can afford a home. Especially with all the hidden costs of ownership. There are probably better economic indicators than home ownership.
camgirl fangirl fucked around with this message at 18:02 on Feb 8, 2016 |
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Feb 8, 2016 17:55
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Focusing on the income side of things misses an important part of the equation, namely "how much home can people afford"? Not all homes are created equal, and a smaller dwelling unit is going to be more affordable than a larger one (assuming the same construction quality, location, etc.) Yet the size of new single family houses keeps ballooning year after year. The Census Bureau reports that the median new single family house grew from 1,600 sqft in the 1970s to 2,000 sqft in the 1990s to 2,200 sqft in the last decade. It's a lot harder to afford 2,200 sqft on a laborer's salary than 1,600 sqft! And that's just single family homes. There are a whole variety of more affordable housing types that are woefully underbuilt in this country due to a combination of zoning restrictions and developer disinterest. In my profession we refer to this as "the missing middle" and it's really frustrating how resistant communities are to even allowing this type of stuff to be built.  Long story short, I think we'd see healthier consumer behavior if the for-sale housing market in this country wasn't so massively skewed towards big-rear end houses with big yards.
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Feb 8, 2016 18:07
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Not a Children posted:Religion trumps everything in some peoples' minds. 6 kids + Vegas = stone cold lock Mormon. Even if the community won't prop up his finances, why not get some return on that 10% (aside from avoiding an eternal vacation in outer darkness) by getting piano lessons / other personally enriching things through the church?
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Feb 8, 2016 18:18
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pig slut lisa posted:Focusing on the income side of things misses an important part of the equation, namely "how much home can people afford"? Not all homes are created equal, and a smaller dwelling unit is going to be more affordable than a larger one (assuming the same construction quality, location, etc.) Yet the size of new single family houses keeps ballooning year after year. The Census Bureau reports that the median new single family house grew from 1,600 sqft in the 1970s to 2,000 sqft in the 1990s to 2,200 sqft in the last decade. It's a lot harder to afford 2,200 sqft on a laborer's salary than 1,600 sqft! I'm curious, since I'm not an urban planner or architect -- what does the term "middle housing" refer to? So, what would be an example of a middle house vs. a detached single-family house in that photo?
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Feb 8, 2016 18:45
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so PredictIt is fun and cool but it's still wild gamblinga cop posted:I was playing around with 1k in the stock market over the last 9 months or so. I'm down 40%. Time to pull the rest out and make it all back on predictit.
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Feb 8, 2016 19:03
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DrSunshine posted:I'm curious, since I'm not an urban planner or architect -- what does the term "middle housing" refer to? So, what would be an example of a middle house vs. a detached single-family house in that photo? Middle housing is a reference to all the things in the middle - bungalow courts, townhouses, duplexes, etc. which are not big apartment buildings, but also aren't detached single family 2200 sq foot mini mansions.
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Feb 8, 2016 19:18
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Grumpwagon posted:I don't know, that doesn't seem that egregious to me. That's just GDP growth. People legitimately do need some things when they buy a house. Granted, plenty of people go way overboard with that. Right, technology is a lever to real GDP and productivity growth, whether it's iron tools, domesticated animals, steam engines, or computers. ATMs and automated check processing means you can get more real work accomplished with fewer/cheaper factors of production. Same with barcodes, standardized shipping containers, etc. It's a problem for low/mid skilled workforce people in the short term, because the jobs in the middle go away forever.
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Feb 8, 2016 19:20
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Not a Children posted:Religion trumps everything in some peoples' minds. This guy's 100% Mormon. It's not that the community is going to "prop up" his finances (though I guess that term is a little loose) as much as he can count on the social support of the community. Sample: One time I showed up at (Mormon)church and we were missing a ton of people, people who showed up every single sunday without fail, with their families. Upon looking around some more I realized that most of the families were there, just not the fathers/dudes. I found out in Elders Quorum that one of the families in the ward (congregation) had had their sewer line to the street bust. Whole thing was a total wash, re-excavate and re-lay the pipe, $8000 job. They didn't have it, word got out, 15+ dudes from the church showed up 8 am sunday, dug the whole thing out by hand and replaced it. One of the members was a plumber and he supervised/ensured everything was kosher. Their line had just gone out early that morning. So yeah the dude is certainly more stretched to the limit than most folks (and admits that), but on the other hand he's got more solid backing than virtually all of us. If he can keep his job he won't lose his house. Even if he did lose his job his kids won't go hungry and he'll get help looking for a new job. E: Holy poo poo this thread is 500 pages long E2 VVVVVVVVVV Basically, and that's far from the biggest Mormon-related benefit out there to be honest Uncle Enzo fucked around with this message at 22:44 on Feb 8, 2016 |
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Feb 8, 2016 22:36
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So what you're saying is that tithing is overpriced Mormon insurance.
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Feb 8, 2016 22:39
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Dr. Eldarion posted:So what you're saying is that tithing is overpriced Mormon insurance. Depending on how much you make and how many $8000 repair bills you duck, it might not even be that overpriced. I mean, aside from the having to wear magic underwear cost.
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Feb 8, 2016 22:46
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Dwight Eisenhower posted:Depending on how much you make and how many $8000 repair bills you duck, it might not even be that overpriced. The family in my story who's sewer got replaced were most definitely not making anywhere near 80k, probably more like 30k. The 8 grand of repairs they got would've cost them nearly 3 years of saving 10%. Besides, if your sewer's broken the house is uninhabitable- no time to save.
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Feb 8, 2016 22:50
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Uncle Enzo posted:E2 oopsie rock fucked around with this message at 22:56 on Feb 8, 2016 |
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Feb 8, 2016 22:52
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Uncle Enzo posted:The family in my story who's sewer got replaced were most definitely not making anywhere near 80k, probably more like 30k. The 8 grand of repairs they got would've cost them nearly 3 years of saving 10%. Besides, if your sewer's broken the house is uninhabitable- no time to save. Yes, and some people who paid $5000 for an extended warranty on their $20000 car actually have it work out for them, too. That doesn't mean it's not BWM since most people will not come out ahead.
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Feb 8, 2016 23:16
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The Mormon guy could make more of the church in terms of activities for his kids. Choir is cheaper than piano, still teaches music.
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Feb 8, 2016 23:24
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He gets $6k in tax credits for all those kids and if he's itemizing his tithing then his tax burden is as low as it legally can be. I've seen a lot worse. fineX posted:I disagree - I don't think the fact that someone owns their home means they are wealthy enough to purchase a home. It just means someone lent them money to buy a home. Lots of people buy homes they can't afford (see: 2008). A wooden leg craftsman might be able to get a mortgage from a shady broker but it certainly doesn't mean they can afford a home. Especially with all the hidden costs of ownership. There are probably better economic indicators than home ownership. 2003 - 2006 really clouded what home ownership is. Historically you needed to be in relatively good financial shape to buy a house, much more than renting an apartment. And you're right, there are lots of other better economic indicators. But when you're a politician touting policies, home ownership levels are something voters understand. Which can be a good thing. Just not in 2006.
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Feb 8, 2016 23:52
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BarbarianElephant posted:The Mormon guy could make more of the church in terms of activities for his kids. Choir is cheaper than piano, still teaches music. Related: here in Australia, Catholic school has become seen as "cheaper private school" among many in the middle class.
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Feb 9, 2016 12:55
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Pompous Rhombus posted:Related: here in Australia, Catholic school has become seen as "cheaper private school" among many in the middle class. It's the same in the US, my area at least
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Feb 9, 2016 14:04
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Nitrox posted:It's the same in the US, my area at least Yeah I think it's the same everywhere in the US. Makes me wish I wasn't an atheist opposed to my kids getting religiously-indoctrinated. BWM to not give in to family religious pressure (and then turn around and not tithe).
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Feb 9, 2016 15:33
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Nitrox posted:It's the same in the US, my area at least Mormon Nevada dude should get his kids in the choir and then have them learn piano basics from the temple pianist. Granted, that person is probably already giving private lessons to the kids of the more wealthy members, but maybe his kids can at least learn the basics of left hand moving different than the right hand and hand placement and how to read sheet music while playing. Nail Rat posted:Yeah I think it's the same everywhere in the US. Makes me wish I wasn't an atheist opposed to my kids getting religiously-indoctrinated. BWM to not give in to family religious pressure (and then turn around and not tithe). CannonFodder fucked around with this message at 18:04 on Feb 9, 2016 |
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Feb 9, 2016 17:57
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This is kind of meta, but /r/investing, and the investing media in general, think the sky is falling. https://www.reddit.com/r/investing/comments/44uf70/the_tech_bubble_is_imploding/ Tech bubble 2 : Electric Boogaloo.
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Feb 9, 2016 19:31
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How does LinkedIn even stay in business. It's that service you merely tolerate until you want to look up the hot vendor saleswoman who just brought donuts to your floor. Using LinkedIn as the canary in the coalmine is a stretch. VVVV I guess I've just outed how in-demand my skill set is. No one's ever called me about my LinkedIn profile. Krispy Wafer fucked around with this message at 20:53 on Feb 9, 2016 |
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Feb 9, 2016 20:43
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Krispy Kareem posted:How does LinkedIn even stay in business. It's that service you merely tolerate until you want to look up the hot vendor saleswoman who just brought donuts to your floor. By recruiters spending money to send job offers to people. You are the product, not the customer.
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Feb 9, 2016 20:50
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That commercial was wonderful but I still think that this extremely douchy Cadillac commercial takes the cake. https://www.youtube.com/watch?v=7WKgSCPqY4M canyoneer posted:Reducing transactional costs for socially desirable behaviors is nearly always a good thing, and mortgage brokers are an even lower value-add than realtors (who are wildly overpaid)
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Feb 9, 2016 21:34
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Lord Tywin posted:That commercial was wonderful but I still think that this extremely douchy Cadillac commercial takes the cake. There are already lots of broker referral services, the thing the mortgage business could benefit from is a less expensive and fragmented legal process and fewer middlemen.
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Feb 9, 2016 23:12
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Apparently there's another commercial for this service where they refinance their mortgage to "remodel" a room half filled with boxes into a nursery. https://www.youtube.com/watch?v=dg5K9DMK3to
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Feb 9, 2016 23:17
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Inverse Icarus posted:Apparently there's another commercial for this service where they refinance their mortgage to "remodel" a room half filled with boxes into a nursery. Do they take star wars merchandising as collateral?
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Feb 9, 2016 23:25
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Krispy Kareem posted:How does LinkedIn even stay in business. It's that service you merely tolerate until you want to look up the hot vendor saleswoman who just brought donuts to your floor. LinkedIn's central business is still pretty healthy. They actually beat expectations last year, the massive drop was because of reduced guidance for the future.
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Feb 9, 2016 23:26
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