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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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56185608 No.56185608 [Reply] [Original]

You are already underwater.

>> No.56185627
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56185627

>>56185608

>> No.56187099

>>56185608
They don't understand it Anon, they are like people in Germany celebrating mass inflation as massive economic benefit - they bought their house for 500k$ they sell it for 3 milion$, they earned 500% profit, etc. Before you think about something in a business way - you have to think how a normie thinks about it, because most people will do what the normie does.

>> No.56187134

>>56185608
You realize all the risk is on the bank right? If someone were that much upside down, they would just move out. A foreclosure isn’t anywhere near as bad as a bankruptcy. And with a bankruptcy credit companies are already offering lines of credit within months.

>> No.56187430

>>56185608
Is there anything funnier than cars getting repossessed and houses getting foreclosed?
Makes me laugh every time.

>> No.56187525

>>56187430

what makes you think that will happen again?

>> No.56187532

>>56187525
It happens every day bub

>> No.56187767

>>56187525

Auto loan delinquencies are at great financial crisis levels and interest rates are high and liquidity is low. Lots of cars finna get repo'd nigga.

>> No.56187771

>>56187767
Hope every prick with an Audi gets repod

>> No.56187773

>>56187430
>>56187767

Still waiting for that big crash.

>> No.56187778

>>56187773
>everything is perfectly fine!

>> No.56187811

>>56187767
dumb niggers that work at McDonalds got car loans for Mercedes Benz and Charger scat packs and now can't keep up with the payments anymore because inflation and rent increases.

>> No.56187825
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56187825

>>56187773

So this is where I lose a lot of people. I point out a negative leading indicator and your midwit $0yjak nature comes out and you smugly declare, "heh, still waiting for the crash," before going back to your job as a line cook at Applebees.

I never predicted an economic collapse you are just inserting a strawman because having to fucking think scares and frustrates you and you would rather think of everything in extreme meme terms rather than real ones.

If you can't understand nuance just remain silence and let people who can actually think do the talking.

>> No.56187828

>>56185608
Only retards rent.

>> No.56187836
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56187836

>>56185608
https://fred.stlouisfed.org/series/CSUSHPINSA

keep coping LOL

>> No.56187852

>>56187430
Cars repossessed is so fucking funny
>No muh heckin grand wagoneer $133k msrp fully loaded!

>> No.56187867

>>56187852

Yeah maybe that $2000 car payment wasn't such a good idea.

>> No.56187937

>>56187825
Line cook at Applesbees is a bit on the prestigious side no?
I was more thinking dishwasher, although you have to speak Spanish for that nowadays

>> No.56187947

>>56187852
I didn't realize how insane cars had gotten until I started listening to Dave Memesey videos because of this place.
The Ford F150 seems to be the big one. 70 thousand fucking dollars for a truck that used to be considered a utility vehicle.
Thank God I learned from an early age that I did not fit in with the normies and thus feel no pressure to get trapped in their social status games. I'm still driving my fully paid off Kia Soul, I just have to hope it doesn't get stolen by some tik tok challenge nigger.

>> No.56187976

>>56187947
Because cars went from being linked to savings to being linked to available credit.

>> No.56187990

>>56187976

But they are depreciating assets so it's absolute madness to finance 100k worth of vehicle when it's not generating income.

>> No.56187991
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56187991

>> No.56187994

>>56185608
i'll take the L so that houses can be affordable for zoomers and poorer millenials. it's a place to live not an investment. i knew when i bought that this was unsustainable - i just needed a place to live.

nature is healing.

>> No.56188081

>>56187990
yeah but think about how you'll be a BALLER

>> No.56188094
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56188094

>>56187994
Based bro right here.

>> No.56188133

>>56187994

Think of it as the boomer's final "fuck you I got mine" to the following generations by sitting on multiple homes until the moment they die.

>> No.56188140

>>56187947
They're also overcomplicated pieces of shit that can only be repaired at dealerships because Ford simultaneously expects you to pay 70 mother fucking thousand dollars for one, but also come crawling back to them in 3 years for a new one. They're designed to be disposable and have planned obsolescence engineered into them.

https://youtu.be/MUkFsuilVD0?si=uuzvQfewj95vZ7iZ

>> No.56188151

>>56188140
Yeah, the fact that a tail light can bring down a whole truck is crazy.

>> No.56188154
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56188154

>>56185608
40% LTV and the basement wagie is paying 90% of my mortgage. Even if I wanted to sell, it's such a slam dunk that every realtor in town would kiss my feet to get the listing.

>> No.56188192

>>56188140
So that's ford tough?

>> No.56188223

>>56187947
Everyone buying monstrous pickup truck abominations pisses me off. Every goddamn soccer mom who doesn't know how to drive is now in one of those ridiculous monstrosities. Not even a pretense of actually using it as a pickup truck. It's all just
>"I want le big truck because it's safer :)"
which is just a roundabout way of admitting they don't know how to fucking drive, instead spurring on this retarded highway arms race where everyone is buying bigger and bigger cars in the hopes that newton's second law carries them, even if it means completely disintegrating the other guy in a normal car.

The fact that the fucking things cost like 80 grand is just the cherry on top. Fuck these ""people"".

>> No.56188278

>>56188223

Also that's 80 grand worth of capital turned into consumer expenditure on a depreciating asset. Putting 80k into boomer mutual funds growing 10% a year gives you 200k at the end of ten years.

The truck gives you -$30,000 on maintenance and insurance costs at the end of 10 years.

>> No.56188307

>>56187811
>Out of state woman begins renting a house a few doors down from me
>drives a new Benz
>Can't even ride out a one year lease
>Hear her arguing/crying "I ran out of money"
>Gets evicted

That's the second one in my neighborhood in the last 2 months. It's habbening.

>> No.56188309

>>56188278
Thanks Dave

>> No.56188316

>>56188307
based landlord not falling for the rentoid crocodile tears

>> No.56188343
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56188343

>>56188307

>It's habbening.

It has only just begun. Lots of people are still using credit cards to pay bills but that eventually ends as they max out cards.

>> No.56188384

>>56188343
I can't even imagine doing that. I get nervous when my cash reserve in my account goes lower than 4 months of expenses. What the fuck is wrong with people

>> No.56188394
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56188394

>>56188384

>> No.56188409

>I want to show my bestie my zestie and this zestie is NOT zesty!

>> No.56188732

>>56188394
Zisters this is NOT zesty