#subprimelending

[latinolibre]

The New Jersey Department of Community Affairs describes predatory lending as “a variety of lending practices that may be disadvantageous to the borrower.”

[growthhaxx]

Got swamped with a bunch of “how do you know when it’s time to buy?” Or where do you think ___ is gonna be in the next year?” While everyone’s pain points are different they’re habit aren’t. One thing I can share openly that indicates trouble is looming Is when you see #subprimelending spike. When I was around 18 I started flipping cars bringing them to #Miami and then shipping them to #NYC and #LA. The profit margins were AMAZING on #luxurycars that were USED because if there’s one thing people never like to admit is that they’re uninformed or broke which is why it was so easy for a kid like me to flip cars at these price points. Whenever there’s a loosening up on sub prime (this is #credit given to people with less than perfect credit) on USED luxury items it’s a setup masquerading as a “buyers” market. Because the more demand reported nationwide the better the country thinks it’s doing which only boosts confidence in #spending .... you get where this is going right?! The thing is that those #loans are made on depreciating assets - which in itself why you’ll see someone driving a 10 year old #Benz over a brand new #Acura lol.... Remember ... the wealth made is on the cleanup .... Be blessed bitchachos 🤙 (at Miami, Florida)