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On 4/14/2020 1:38 PM, jlarkin@highlandsniptechnology.com wrote:
My girlfriend rents a 3 bedroom/1.5 bath/kitchen/dining room apt,
two-car driveway, basically the whole bottom floor of a 1920s 3-story
Victorian-style home 1 mile from downtown Providence RI for 1k/month
utilities included.
Light industrial space is $4-6 per square ft/year I'm thinking about
setting up my lab down there it's too big for my home, now
On Tue, 14 Apr 2020 13:03:01 -0400, bitrex <user@example.net> wrote:
On 4/14/2020 12:30 PM, jlarkin@highlandsniptechnology.com wrote:
On Sun, 12 Apr 2020 17:52:20 -0400, bitrex <user@example.net> wrote:
On 4/12/2020 2:26 PM, jlarkin@highlandsniptechnology.com wrote:
On Sun, 12 Apr 2020 07:07:34 -0700 (PDT), mpm <mpmillard@aol.com
wrote:
As long as we're off-topic lately:
Any thoughts or comments regarding how the credit bureaus will deal with this Coronavirus pandemic. Does anybody here believe strongly that those credit scoring models are really up to the task?
My own FICO-9 just score dropped 6 points, at a time where if anything, it should have gone UP. I just made the last payment on a personal loan (taken out specifically to see if I could bump the score, as I don't really use a lot of credit at this stage in life.) And, I paid down the balance on my two credit cards (which, typically don't carry much of a balance anyway, but I wanted to get them near zero to see what effect it has on FICO.) Answer appears to be "none", BTW.
More importantly, I still have my job, so I'm still accruing cash via paycheck direct deposit (not sure bank account balances figures into FICO?). Unlike a lot of folks out there, I'm not dipping into reserves in order to survive.
I'm starting think this whole FICO-9 credit score scheme might be a bit of a scam? Maybe not in the "big picture" way..., but I wonder what the equations are?
My score hovers in the 780-800 range.
And why keep the models secret? I mean, if FICO was worried about people gaming the model, then they should fix the model, right? Or is it secret just so they can sell it to banks and companies extending credit to customers? And BTW, I realize there are lots and lots of scores by various companies, and used for different purposes, and that FICO-9 is but one of them.
Anybody know the equations for FICO-9 scoring?
If you never borrow money, you don't need to worry about a credit
score. I've never borrowed except for mortgages, and having no credit
history didn't seem to affect getting a mortgage.
There's a lot of cookie-cutter financial-guru advice from the likes of
Dave Ramsey that is OK as far as it goes but seems mostly designed to
get middle-class middle-Americans who find themselves in the hole from
doing STUPID things out of trouble.
Like people who have a household income of 70k and think a 70k luxury
SUV bought on credit is a reasonable purchase for their income-bracket.
and soon enough they find themselves in trouble. Yeah. Welp.
We have friends who bought a house on the water in Foster City, no
money down and an interest-only loan. Every time property values went
up, they refinanced and spent the money on restaurants and wine and
cars and cruises.
They both rent now, separately after the divorce.
In cities like Boston, NYC, Toronto, and San Fran I suppose renting can
be a money-win as compared to paying the high prices and high property
taxes on a home. you can invest the money you save vs. a mortgage into
something paying better returns than the real-estate market where you
pay for the profits of all the people ahead of you in line who already
made out on the hustle years ago.
The cheapest one-story two-bedroom detached single-family home in my
town up for sale atm is listed for $389,000
You can still get an "attached" house (sort of a town house, I guess)
on a 24-foot-wide lot here, in a mediocre neighborhood, for under a
million dollars. See Zillow. Some 1br condos can be had for under a
megabuck too. There are lots of 2 and 4M houses in our neighborhood.
Good thing we bought 30 years ago, before the google busses.
But apartments are crazy expensive too. I think a lot of newcomers
have high incomes and spend it all on housing. But they are mostly
having fun, so it's OK while they are still young.
My girlfriend rents a 3 bedroom/1.5 bath/kitchen/dining room apt,
two-car driveway, basically the whole bottom floor of a 1920s 3-story
Victorian-style home 1 mile from downtown Providence RI for 1k/month
utilities included.
Light industrial space is $4-6 per square ft/year I'm thinking about
setting up my lab down there it's too big for my home, now