Quote:
Originally Posted by MattyC
No one has a crystal ball.
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Right, that is why I said "I do
think it is a bubble", instead of " I know...".
Quote:
Originally Posted by MattyC
But just curious, how can any of us know the specific financial situation of buyers? How can anyone tell if buyers of this card are "stretching themselves too thin?" Most guys I know who have one are quite solvent. Then we have guys like Bill and my brother in other threads, who are prudently saving up.
This seems like quite an assumption.
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It is an assumption.
It is an assumption based on the psychology of people "keeping up with the Joneses". What I mean by stretching "themselves too thin" is by not being diversified, this one card can end up being worth more than someone's car or a year's worth of rent/mortgage payment, or aprox 2 months salary (based off $8k for mantle to the 2012 medium household income). So if this is over 10% of someone's total assets and an emergency comes up this card is going to be sold.