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Put TB on ignore for fucks sake. Hell, put me on ignore too if it makes you feel better. Just stop responding to them so this thread (too) stops getting clogged up with slap fights.
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Aug 30, 2017 01:53
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ohgodwhat posted:The 50th percentile house price divided by the 50th percentile household income is not an average of house price to income across the whole distribution, nor are households allocated to houses by income rank. According to the U.S. Census Bureau, the average household income was $73,298 in 2014. It's super hard to find the AVERAGE home price, but I found this: "In 2016, the median price paid for a new home was $332,500, while the average price paid was $384,000." If I convert the $190k median home price by the ratio of 384/332.5, I get an adjusted "average" of $219,428. $219428 / $73298 = 2.994 Feel free to find better numbers (finding an average existing home price is surprisingly hard for some reason), but did you really expect the ratio of the averages to be radically different from the ratio of the medians? Especially with income inequality rising so fast? Edit to add: I think the 3x "rule" is stupid because there are probably 20 factors that can dramatically effect your actual yearly costs (and net income relative to gross income) of owning a home. But that doesn't change the statistics. Droo fucked around with this message at 02:03 on Aug 30, 2017 |
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Aug 30, 2017 02:00
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TB writes a lot of words, none of which are worth reading. Concise posts that are about BWM is what is needed. When you buy a house and can't make payments and you are desperate to sell this is what you have to do. quote:Oh *@#* bank forces sale! Currently the banks in NZ are limiting the flow to mortgagee sales onto the market so they get the best price. There are a lot of places that are in the queue for mortgagee sale and they desperately need to sell. On top of that about 1/10 of the house sales I can get previous data on are selling at a loss. I've even seen houses sold for a loss 9 months after purchase. New Zealand is trying it's best to maintain the housing bubble here. e: house prices 3 times annual income aren't bad. Compare this to Auckland, NZ where house prices are 10-12 times annual income.
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Aug 30, 2017 02:00
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Droo posted:According to the U.S. Census Bureau, the average household income was $73,298 in 2014. A) there is no reason to assume that the ratio of the average would be comparable to the ratio of the medians B) you are still using ratios of point estimates of distributions as a proxy for the ratio of the actual distributions themselves, which is incorrect.
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Aug 30, 2017 02:06
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I thought this thread was about $500 blenders.
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Aug 30, 2017 02:14
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ohgodwhat posted:A) there is no reason to assume that the ratio of the average would be comparable to the ratio of the medians Yes using averages is stupid, that's why I was confused by your post implying we should use them instead of medians.
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Aug 30, 2017 02:16
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Elephanthead posted:I thought this thread was about $500 blenders. a $500 blender is probably a really loving good blender though i think you meant a $500 juice presser with drm juice packets
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Aug 30, 2017 02:20
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Droo posted:Yes using averages is stupid, that's why I was confused by your post implying we should use them instead of medians. You need to work on your reading comprehension
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Aug 30, 2017 02:31
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Devian666 posted:TB writes a lot of words, none of which are worth reading. Concise posts that are about BWM is what is needed. Are NZ and Canada housing bubbles setting up for a pop soon or what?
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Aug 30, 2017 03:02
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Moneyball posted:Hoodwinker is a good poster posting good bad with money stories. Be good like Hoodwinker. In lieu of an empty quote https://www.reddit.com/r/personalfinance/comments/6wvf4b/i_am_37_yo_self_employed_attorney_who_was_just/ posted:
Volmarias fucked around with this message at 03:18 on Aug 30, 2017 |
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Aug 30, 2017 03:16
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I make 225k a year and have 500k in liquid assests, yet I seek the advice of random internet people after I sign the lovely deal. This guy is great. Also is there any reason to not instantly pay off both the car and the house? I'm sure the car loan is better paid off sooner rather than later.
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Aug 30, 2017 03:23
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Imagine paying that person to represent you as your attorney, Jesus Christ. 37 years old, yet as green as grass.
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Aug 30, 2017 03:25
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Suspicious Lump posted:I make 225k a year and have 500k in liquid assests, yet I seek the advice of random internet people after I sign the lovely deal. This guy is great. Also is there any reason to not instantly pay off both the car and the house? I'm sure the car loan is better paid off sooner rather than later. He mentions in the replies that the car debt is at 1.49% APR (manufacturers often subsidize those rates) - that seems like a good decision, buying an expensive car in the first place aside. And after deducting the interest, the house debt is probably a toss-up.
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Aug 30, 2017 03:33
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quote:Update: I signed for the life insurance policy yesterday and received a copy of it for the first time, yet the policy and issue date is for August 17 which is outside of the 10 day free look period. Haha Jesus Christ
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Aug 30, 2017 03:35
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Inept posted:Haha Jesus Christ At least he now knows for certain it’s a scam. I doubt the pre-dated paperwork would hold up in court. Unless of course this guy represents himself.
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Aug 30, 2017 03:37
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Krispy Kareem posted:Unless of course this guy represents himself. 
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Aug 30, 2017 03:45
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Anyone who represents themselves in a court of law has an idiot for a lawyer AND a client.
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Aug 30, 2017 03:59
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Zo posted:a $500 blender is probably a really loving good blender though My parents Vitamix from 1981 is still going strong with weekly use 36 years later
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Aug 30, 2017 04:16
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Huh that's weird I'm pretty sure the SEC had a little something to say about selling life insurance as an "investment"
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Aug 30, 2017 04:50
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https://www.reddit.com/r/legaladvice/comments/6wiybt/i_signed_for_a_car_for_my_cousin_and_she_wrecked/ I signed for a car for my cousin and she wrecked it with no insurance. I'm getting sued. What should I do. (self.legaladvice) submitted 1 day ago * by WePimpin2010 quote:I live in Arkansas and my cousin asked me could I co-sign a car for her. Went to the dealership in Louisiana and they convinced me to sign for it because I had good credit and it would lower her payments and she would have Arkansas tags which are cheaper. Well she never payed the notes on time and when I tried to get the car from her she blocked my number and I lost contact with her. She wrecked the car and didn't have any insurance so I'm getting sued by an insurance company and she abandoned the car at a repair shop. What can I do about the insurance company suit and I got in contact with her and she said she will sign anything or do anything to get this off my credit report and put the repoed car in her name. Thank you quote:OP, I have bad news for you. Took us 9 months but here's this year's Worst With Money winner
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Aug 30, 2017 04:59
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NancyPants posted:Huh that's weird I'm pretty sure the SEC had a little something to say about selling life insurance as an "investment" I hope it was "lol no"
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Aug 30, 2017 05:04
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canyoneer posted:https://www.reddit.com/r/legaladvice/comments/6wiybt/i_signed_for_a_car_for_my_cousin_and_she_wrecked/ OP posted:Never in a million years did I think she would screw over me this hard because all that I've done for her. She needed a place to stay, I took her in. She had no job, I got my recruiter to help her get in the Louisiana national guard and help her get a federal job on the closest base. We were pretty close.
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Aug 30, 2017 05:06
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DarkHorse posted:Are NZ and Canada housing bubbles setting up for a pop soon or what? In New Zealand people are in denial about the crash. Of course by the time it's obvious it's a crash it'll be over. House sales dropped 35% just on volume. The Reserve Bank statistics show that the mortgage lender is similar but just on fewer, higher priced properties. Over the past few months Auckland house prices have been falling (about 9% this year) and now people are taking it more seriously. Sales volume falls before price falls so there's no surprises there. How far the prices will fall I don't know yet and how much it will affect the rest of New Zealand I don't know. Separate research shows that NZ household would be resilient to interest rate increases. However the banks don't seem so confident (I think the banks know how bad the problem is with their mortgage books). In Canada I've heard of a lot of house sales going sour with people suddenly unable to come up with the money after signing on the dotted line. I expect people in New Zealand and Canada to continue to do stupid BWM things, so these bubbles could carry on.
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Aug 30, 2017 05:15
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Elephanthead posted:I thought this thread was about $500 blenders. Juicers, horses, derails. I practically live next to a horse farm. Is that what it's called? About 10 horses with a little track for them to do their jumping exercises. I always see the same 5 cars parked there (including a limo!) - every day, no exception. Sometimes when I go jogging I get to say "hi" to some of the people. I should befriend them to get some juicy bwm stories. On the other hand, I love animals and I worry that once I befriend the people, I will join them.
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Aug 30, 2017 05:44
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Moneyball posted:I hope it was "lol no" This whole thing screams of an "advisor" that doesn't have a securities license. I used to see it all the time with people selling whole life policies as "self funded retirement plans" and indexed annuities with 30 year surrender schedules as investments with "market like gains, but no loss risk." They're usually fly-by-night guys with really impressive marketing material and very professional looking illustrations and "financial pictures" that always just barely come short of calling it a financial plan. When all you have in your toolbox is a hammer then every problem looks like a nail.
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Aug 30, 2017 05:45
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canyoneer posted:https://www.reddit.com/r/legaladvice/comments/6wiybt/i_signed_for_a_car_for_my_cousin_and_she_wrecked/ Holy poo poo this poor sucker.
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Aug 30, 2017 05:48
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Elephanthead posted:I thought this thread was about $500 blenders. Ahem, $500 proprietary juice presses that require a monthly subscription. Not blenders....those would be much too useful and too difficult to DRM lock.
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Aug 30, 2017 06:17
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https://www.reddit.com/r/legaladvice/comments/6wvot5/usfl_car_trying_to_race_hit_truck_wants_to_sue/quote:A fully loaded 18-wheeler that belongs to my company was driving on a highway at the speed limit. There was a group of people who were attempting to race on the highway, apparently slowing down and speeding up quite a bit. They somehow managed to hit the Freightliner Classic truck. The truck suffered minimal damage, with only the side of the front bumper being scratched and the caps on the wheel bolts. Their car(small, 2007 Nissan 350Z) has dents on the front of the rear right fender. They blame it on the driver of the truck, but there was nothing he could do, especially with a heavy load and a hitched trailer. I don't understand how the truck could've driven towards them, especially when there are no visible markings from the truck's tires(which are right behind the bumper on the Freightliner Classic). They also told the police that they were testing out the traction on their vehicle. Wouldn't that just mean they lost control? quote:No, the Nissan driver didn't sue anyone, we actually suggested we could pay for some of the repairs(buy some time to investigate a little, ig), and he agreed. I researched his insurance company, and it seems to be an insurance company in name only. 5-star reviews are fake, and all 1 star reviews complain about the same thing(never respond, surprise fees, etc). quote:We're trying to avoid bringing the insurance into this, as they'd raise rates considerably, even if we're not liable. Either way, the truck wasn't in the insurance due to it being new. The driver was in the insurance, but not the truck itself. We do have insurance for our other trucks, of course.
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Aug 30, 2017 06:36
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A couple of guys I eat lunch with started talking about and eventually set up computers to mine Ethereum when the price was somewhat high, for some stupid reason. I held my tongue even though I've been following various crypto-making-fun-of threads here for the better part of 5 years. All until one of them jokingly said "HODL" the other day, which triggered me. I don't know if they're mining at all following the (temporary?) price crash and massive influx of other miners. Now this week some other unrelated people have been posting in an employee bulletin board for "advice on trading cryptocurrencies" and formed a chat group so they can discuss it. All is lost, I fear.
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Aug 30, 2017 06:49
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therobit posted:https://www.reddit.com/r/legaladvice/comments/6wvot5/usfl_car_trying_to_race_hit_truck_wants_to_sue/ They might not be quite as hosed as it seems, because if my layman memory is correct (so probably not) there's a law where any payment you accept in a situation like this settles the matter and you can't sue for more. Never accept payment from the driver at fault if you're going to pursue an insurance claim or sue.
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Aug 30, 2017 07:57
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SpelledBackwards posted:A couple of guys I eat lunch with started talking about and eventually set up computers to mine Ethereum when the price was somewhat high, for some stupid reason. I held my tongue even though I've been following various crypto-making-fun-of threads here for the better part of 5 years. All until one of them jokingly said "HODL" the other day, which triggered me. I don't know if they're mining at all following the (temporary?) price crash and massive influx of other miners. gently caress their dumbass Dunning-Krugerrands for driving up the price of video cards for people who just want to play video games tbqh
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Aug 30, 2017 08:43
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SpelledBackwards posted:A couple of guys I eat lunch with started talking about and eventually set up computers to mine Ethereum when the price was somewhat high, for some stupid reason. I held my tongue even though I've been following various crypto-making-fun-of threads here for the better part of 5 years. All until one of them jokingly said "HODL" the other day, which triggered me. I don't know if they're mining at all following the (temporary?) price crash and massive influx of other miners. Rule of bubbles: When everybody is talking about getting in, get out.
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Aug 30, 2017 12:18
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Folly posted:Rule of bubbles: When everybody is talking about getting in, get out. (The intrinsic value is that it's worth less than dogshit.)
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Aug 30, 2017 12:27
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Suspicious Lump posted:Also is there any reason to not instantly pay off both the car and the house? His mortgage rate is probably well below his investment returns, though who knows if everything is in 10 stocks.
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Aug 30, 2017 12:29
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What's the best way to talk my dumbass friend out of getting involved with crypto? Everything I say is met with "well, if it keeps shooting up, you'll regret not investing!" Mini BWM story -- my friend spent her first paycheck for her new job entirely on eating out over the course of 2 weeks, saying she "just wanted to know what it was like to live the high life"
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Aug 30, 2017 12:59
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Not a Children posted:What's the best way to talk my dumbass friend out of getting involved with crypto? Everything I say is met with "well, if it keeps shooting up, you'll regret not investing!" Last time it shot up a ton it both crashed insanely hard and everyone who had any got it stolen due to Mt.GOX collapsing. If anything the risk of that happening is now worse due to margin trading and a bunch of other dumb shenanigans. Also grab a copy of divabot's book because it's pretty good and the yospos bitcoin thread helped write it 
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Aug 30, 2017 13:09
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https://www.reddit.com/r/relationships/comments/6wts3y/how_do_i_31_f_deal_with_my_sos_29_m_use_of_the/ My S/O and I have been dating for 3 years, living together for 1. Every so often, S/O will use the silent treatment during fights. It's happening right now. We're currently on the hunt for a new couch. Yesterday, we found an antique one that my S/O loved, but was way out of my price range. I was vocal about this right away. My S/O said he was sold on it completely and would pay for it himself he loved it so much. I offered to pay my share of what we had originally budgeted since I didn't want to leave him paying for the entire thing, but that's still far less than half the price of the antique. We learned there were several others also offering bids, so we would have to buy it that night. My S/O needed a cheque to come in in order to make the full payment. He was expecting it yesterday, but unfortunately it didn't arrive. He said that if it didn't arrive that day it would absolutely show up the next, but that would be too late for the couch. I could tell he was upset, so I looked into possibly going into overdraft on my account to cover the full cost until his cheque came in. Doing so gives me a lot of anxiety, but I decided that if I could be paid back the next day I would be OK with it. I told my S/O and he was excited. I pressed to confirm that the cheque would almost certainly be there the next day, as this would be the only way I could front the full amount, and he suddenly seemed less sure. "Maybe" at best. At that point, my anxiety over the debt kicked in hard. I told him that for me, that was a panic attack waiting to happen. I wasn't comfortable with the transaction now that it was on my shoulders and the cheque uncertain. He said no problem, but I know hates when I get anxious (I'm on medication for it). I should add that all of this conversation happened via text since we were at work. I figured everything was fine and resolved, but soon his replies turned into one word answers. "Sure", "ok", "yep", "whatever". I asked what time he would be home from work, and he told me "well no reason to rush now". I got home from work first. When he got back, he didn't say a word to me, changed, and went right back out. I tried to say hi and engage with him, but he brushed me off. I went for a run to clear my head. When I got home he was there, and I tried again to engage. Nothing. He went to bed and turned off the lights. I slept on the (existing) couch and got up first for work this morning. I texted him at around noon saying "hey, how's your day going". Again, one word cold answers. I finally said "are you going to keep giving me one word answers like a child? The silent treatment is a bit ridiculous". He answered "maybe I just don't want you to talk to me". I answered "alright, no problem". How do I address this? I obviously feel like this is my fault and shouldn't have even mentioned fronting the cost of the couch, but I never saw it blowing up like this. My current plan is to do my own thing and give him space, but we live together.
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Aug 30, 2017 13:23
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Aug 30, 2017 13:26
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Anxiety and avoidant personalities, they go together like water and a grease fire
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Aug 30, 2017 13:37
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That is an absolute classic for the truck story, saw that one coming.
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Aug 30, 2017 13:45
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