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Yeah, I saw an article awhile back that minorities tended to

Posted on: September 8, 2016 at 10:31:06 CT
JeffB MU
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have a much higher percentage of people who would spend a lot on vehicles that depreciate rapidly and relatively less on a home that is more likely to appreciate in value over the years (or at least protect against rising costs for rent & so on).

Per the article that is one factor that played a significant role in keeping some people poor.

I remember one lady that had frequent problems paying the monthly premiums on her auto insurance for liability only. I think it was only about $35/month. She rented a home in Castle Point that was probably worth $10,000, maybe less. She came in driving a $45,000 custom van one day wanting to know how much it would cost her for insurance. She really liked it. But it was a ridiculous purchase for her.
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The One Trillion Dollar Consumer Auto Loan Bubble Is Beginni - JeffB MU - 9/7 23:02:46
     72 MONTH FINANCING AT 0% INTEREST!!!!!! - Tigrrrr! MU - 9/8 08:20:06
          Yes, it's craziness caused by idiotic Federal Reserve policy - JeffB MU - 9/8 10:33:30
     There will be a reversal. Only question is when and how much - GA Tiger MU - 9/8 07:51:22
     People younger than 30 - Rabbit Test MU - 9/8 07:08:38
          The sad thing is that our government is encouraging idiocy. - JeffB MU - 9/8 10:57:07
          I've bought one new car since 1967. The - GA Tiger MU - 9/8 07:53:11
               A 1 hour class on economics & financial planning would make - JeffB MU - 9/8 10:44:13
     You dont have to be wealthy to afford $499 a month - TigerMatt MU - 9/8 01:49:43
          Had a former co-worker who wanted a Ford Explorer bad when - Tigrrrr! MU - 9/8 08:03:31
          RE: You dont have to be wealthy to afford $499 a month - sarasotatiger MU - 9/8 07:56:30
     Quite the site(nm) - meatiger MU - 9/8 00:15:38
     Uh huh, The great unwinding credit bubble - Uncle Fester USMC - 9/7 23:08:01
          I know people that refuse to drive a car they are not making - MIZZOU_FANATIC MU - 9/7 23:27:15
               That's a crazy mindset. (nm) - JeffB MU - 9/8 09:28:34
               That is my ex wife. 3 years and new car, roll debt not - TigerMatt MU - 9/8 02:03:37
                    7 year loan on a car is just stupid.(nm) - MIZZOU_FANATIC MU - 9/8 10:13:46
                         Yeah, I saw an article awhile back that minorities tended to - JeffB MU - 9/8 10:31:06
               Well, It does make some sense as they can git Xpensive when - Uncle Fester USMC - 9/7 23:32:46
                    Say you buy car for $20K over 5 year loan. Same car 5 years - TigerMatt MU - 9/8 01:59:33
                         Yeah, I got a book from the library a long time ago that - JeffB MU - 9/8 10:17:05
                         technically reliability needs to be factored into the math - Roberts MU - 9/8 09:56:01
                              Yeah, but a well maintained older vehicle can still be relia - JeffB MU - 9/8 10:25:41




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