FICO to incorporate buy-now-pay-later loans into credit scores • Hacker News Board

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#641

Post by 9rx » Wed, Jun 25, 2025, 7:24 PM UTC

ndriscoll wrote: post #640

9rx wrote: post #631

Earlier quoted context omitted.

> "good schools" are much more about the kids and families than the teachers. Is this a euphemism for "it is really about being around people who are white"? Another commenter here used similar language to this and, once we drilled down into the nitty gritty, it turns out that is what was being said. "White flight" is certainly a thing. Admittedly, where I am only 2% of the population are visible minorities. You can…

I think I was pretty explicit about what that means: the discrimination is more around class. My local school is one of the best in the state for example, and is ~60% "white" vs. ~80% for the local population. In fact the stats I see indicate that every racial minority group has higher representation within the student body than within the wider city. The more relevant factor is that a bunch of doctors, lawyers, engi…

> There are no homes in the area for under $1M, and many are $5M+.

We were talking about someone who found a $575,000 home to be stretching him to his limits. Have we gotten a bit off track here?

> The more relevant factor is that a bunch of doctors, lawyers, engineers, etc.

I'm one to talk as an engineer living in a $300,000 (maybe, on a good day) home, but I technically could afford a multimillion dollar home if I found some strange reason to show off to others. Generally speaking, a $575,000 home is really a "working man's" home.

What you describe is interesting, but is it the same obvious reasons as what was brought up before? Said person isn't of the class you describe.

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#642

Post by vel0city » Wed, Jun 25, 2025, 7:28 PM UTC

9rx wrote: post #635

vel0city wrote: post #633

Earlier quoted context omitted.

You don't see how stating someone has limited thought capacity is berating. You don't see how being called a dog is berating. And now you're suggesting I see you as my master, wow. You might want to re-evaluate what people would commonly find berating. Go discuss that with others and see what you find out.

> You don't see how stating someone has limited thought capacity is berating. No. If someone has limited thought capacity, they have limited thought capacity. That is just a fact of life. For someone so concerned about the veracity of data, how can you see a datapoint as being berating? Granted, the datapoint in this case is only hypothetical (as you would have noticed if you retained the "if"), but such datapoints a…

Incredible how you can spend so many words to showcase how you can't possibly imagine people don't like to be called unintelligent dogs.

> but silly human emotion does not get triggered by random strings of text

Once again, seemingly completely divorced from reality. You must live on an entirely different planet far away from actual humans if you think human emotions are usually not affected by strings of text.

> but my understanding is that people find something berating when they understand a statement as some kind of truth that they don't want to admit to themselves

No. Things can be berating even if one knows that statement isn't true about them. But I imagine you know that. If someone calls you a worthless piece of trash its being berating regardless of if you think you are or are not a worthless piece of trash.

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#643

Post by 10000truths » Wed, Jun 25, 2025, 7:40 PM UTC

WalterBright wrote: post #584

chasd00 wrote: post #545

Earlier quoted context omitted.

Can’t argue with the math but one thing about a mortgage is it takes no effort. Just pay the bill and time does the rest. With stock investment there’s an emotional attachment to every major swing, should you buy or should you sell is never far from your thoughts. Using a home as an investment may not make the most return but it’s easy as long as you can pay the bill.

Real estate prices swing around, wax and wane, just like the stock market does. It's just that there is no real estate price ticker. Investing in the S&P 500 is even less effort. The last time I bought a house, I had to carefully read and sign about 50 pages of legal papers. Buying stocks is just pushing a button.

In places like the Bay Area, property values pretty much never go down in price, and the YoY relative increase is on par with that of index funds. Combine that with rental income, and you can very likely beat an index fund. Mortgages offer much more leverage than margin loans, which helps offset the upfront capital cost.

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#644

Post by hollerith » Wed, Jun 25, 2025, 7:41 PM UTC

10000truths wrote: post #643

WalterBright wrote: post #584

Earlier quoted context omitted.

Real estate prices swing around, wax and wane, just like the stock market does. It's just that there is no real estate price ticker. Investing in the S&P 500 is even less effort. The last time I bought a house, I had to carefully read and sign about 50 pages of legal papers. Buying stocks is just pushing a button.

In places like the Bay Area, property values pretty much never go down in price, and the YoY relative increase is on par with that of index funds. Combine that with rental income, and you can very likely beat an index fund. Mortgages offer much more leverage than margin loans, which helps offset the upfront capital cost.

For decades, property values kept going up in Detroit until they didn't.

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#645

Post by bdangubic » Wed, Jun 25, 2025, 7:50 PM UTC

hollerith wrote: post #644

10000truths wrote: post #643

Earlier quoted context omitted.

In places like the Bay Area, property values pretty much never go down in price, and the YoY relative increase is on par with that of index funds. Combine that with rental income, and you can very likely beat an index fund. Mortgages offer much more leverage than margin loans, which helps offset the upfront capital cost.

For decades, property values kept going up in Detroit until they didn't.

not just Detroit…

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#646

Post by 9rx » Wed, Jun 25, 2025, 7:50 PM UTC

vel0city wrote: post #642

9rx wrote: post #635

Earlier quoted context omitted.

> You don't see how stating someone has limited thought capacity is berating. No. If someone has limited thought capacity, they have limited thought capacity. That is just a fact of life. For someone so concerned about the veracity of data, how can you see a datapoint as being berating? Granted, the datapoint in this case is only hypothetical (as you would have noticed if you retained the "if"), but such datapoints a…

Incredible how you can spend so many words to showcase how you can't possibly imagine people don't like to be called unintelligent dogs. > but silly human emotion does not get triggered by random strings of text Once again, seemingly completely divorced from reality. You must live on an entirely different planet far away from actual humans if you think human emotions are usually not affected by strings of text. > but…

> Incredible how you can spend so many words to showcase how you can't possibly imagine people don't like to be called...

Incredible it is, I agree. But that's why I'm here. So that I can learn to imagine such things. Learning has to start somewhere. That's what discussion is all about!

> ...unintelligent dogs.

I am intrigued that you think dogs are unintelligent. The exhibit intelligence as far as I can see. What is the thinking there?

> You must live on an entirely different planet far away from actual humans if you think human emotions are not affected by strings of text.

Strings of text and random strings of text are not one in the same. How did your thought process lead you here?

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#647

Post by vel0city » Wed, Jun 25, 2025, 7:57 PM UTC

9rx wrote: post #646

vel0city wrote: post #642

Earlier quoted context omitted.

Incredible how you can spend so many words to showcase how you can't possibly imagine people don't like to be called unintelligent dogs. > but silly human emotion does not get triggered by random strings of text Once again, seemingly completely divorced from reality. You must live on an entirely different planet far away from actual humans if you think human emotions are usually not affected by strings of text. > but…

> Incredible how you can spend so many words to showcase how you can't possibly imagine people don't like to be called... Incredible it is, I agree. But that's why I'm here. So that I can learn to imagine such things. Learning has to start somewhere. That's what discussion is all about! > ...unintelligent dogs. I am intrigued that you think dogs are unintelligent. The exhibit intelligence as far as I can see. What is…

> I am intrigued that you think dogs are unintelligent.

I never made the claim. My statement was you effectively called me that through your comments. But sure, just make things up.

> Strings of text and random strings of text are not one and the same. How did your thought process lead you here?

Are you suggesting all your words are just random and have no intention or structure or meaning behind them?

Truly seems like I've just been talking to a bot this whole time.

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#648

Post by 9rx » Wed, Jun 25, 2025, 8:02 PM UTC

vel0city wrote: post #647

9rx wrote: post #646

Earlier quoted context omitted.

> Incredible how you can spend so many words to showcase how you can't possibly imagine people don't like to be called... Incredible it is, I agree. But that's why I'm here. So that I can learn to imagine such things. Learning has to start somewhere. That's what discussion is all about! > ...unintelligent dogs. I am intrigued that you think dogs are unintelligent. The exhibit intelligence as far as I can see. What is…

> I am intrigued that you think dogs are unintelligent. I never made the claim. My statement was you effectively called me that through your comments. But sure, just make things up. > Strings of text and random strings of text are not one and the same. How did your thought process lead you here? Are you suggesting all your words are just random and have no intention or structure or meaning behind them? Truly seems li…

> I never made the claim. My statement was you effectively called me that through your comments.

I likened your behavior to that of a dog. Nothing said you or dogs are unintelligent. That was first seen in the previous comment – the one written by you.

> Are you suggesting all your words are just random and have no intention or structure or meaning behind them?

The fact that emotions are not triggered by random strings of text does not equate to, or even suggest, an inexistence non-random strings of text. How did you think up that one?

> Truly seems like I've just been talking to a bot this whole time.

Would that make a difference? Discussion doesn't have to be only about learning what a human thinks. What a robot thinks can be just as interesting. Hell, if you can figure out how to communicate with a dog to learn what it thinks, why wouldn't you jump all over that? That would be amazing.

Maybe you just don't like learning? It seems like you don't care for it much based on what you are responding with, but that may be a poor interpretation on my part. What do you think?

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#649

Post by 10000truths » Wed, Jun 25, 2025, 8:04 PM UTC

hollerith wrote: post #644

10000truths wrote: post #643

Earlier quoted context omitted.

In places like the Bay Area, property values pretty much never go down in price, and the YoY relative increase is on par with that of index funds. Combine that with rental income, and you can very likely beat an index fund. Mortgages offer much more leverage than margin loans, which helps offset the upfront capital cost.

For decades, property values kept going up in Detroit until they didn't.

The value of real estate in Detroit was tied to the auto industry. When it fell, so did real estate prices. The Bay Area's value does come in large part from the tech industry, but it's also a very important port of entry for trans-Pacific immigration and commerce, and that's a lot less likely to change IMO.

But that's beside the point. Substitute Bay Area with Seattle, Los Angeles, Manhattan, or some other area of your choice. Or, better yet, diversify your portfolio by buying real estate in multiple cities. The same options that are available in the stock investment to tune your risk profile are available in real estate investment as well.

Re: FICO to incorporate buy-now-pay-later loans into credit scores

#650

Post by ndriscoll » Wed, Jun 25, 2025, 8:06 PM UTC

9rx wrote: post #641

ndriscoll wrote: post #640

Earlier quoted context omitted.

I think I was pretty explicit about what that means: the discrimination is more around class. My local school is one of the best in the state for example, and is ~60% "white" vs. ~80% for the local population. In fact the stats I see indicate that every racial minority group has higher representation within the student body than within the wider city. The more relevant factor is that a bunch of doctors, lawyers, engi…

> There are no homes in the area for under $1M, and many are $5M+. We were talking about someone who found a $575,000 home to be stretching him to his limits. Have we gotten a bit off track here? > The more relevant factor is that a bunch of doctors, lawyers, engineers, etc. I'm one to talk as an engineer living in a $300,000 ( maybe , on a good day) home, but I technically could afford a multimillion dollar home if…

They didn't say the $575k was stretching, or that it was the current value of the home. Just that it was the price when they bought it, and presumably they couldn't find something nearly as nice in a dense city without paying significantly more.

In any case, you asked why people are concerned about being "zoned for good schools" and why that would be obvious to Americans, and I think I explained it to you: making sure their kids are surrounded by the "right" peers who will pressure them into the "right" behaviors is a high priority for a lot of people, particularly in the professional-managerial class. They generally won't word it that way because overt classism is uncouth, but that's what they mean when you think about it. Obviously that's not a concern you have (it's also not "showing off" to live in an expensive area; everyone around you will necessarily also live in an expensive area...).