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Interesting list. Some of these are surprising, others, not so much. It's interesting to see factual information. It looks like parts of the Midwest do pretty well. I'm surprised by Hawaii's high rating, as it's so expensive there. I guess to live there, you have to have money, in the first place.
Interesting list. Some of these are surprising, others, not so much. It's interesting to see factual information. It looks like parts of the Midwest do pretty well. I'm surprised by Hawaii's high rating, as it's so expensive there. I guess to live there, you have to have money, in the first place.
Credit rating isn't a raw determination of wealth or income. It's an analysis of how quickly you pay your bills and how many loans you've taken out and paid recently.
A diligent middle class man that takes out auto loans and pays his bills every month will have a higher credit rating then the upper class man that doesn't pay his bills on time or disputes bills and pays for his cars with cash.
Credit rating isn't a raw determination of wealth or income. It's an analysis of how quickly you pay your bills and how many loans you've taken out and paid recently.
A diligent middle class man that takes out auto loans and pays his bills every month will have a higher credit rating then the upper class man that doesn't pay his bills on time or disputes bills and pays for his cars with cash.
This is true. Debt to GDP ratio gives a better picture of a states' financial well-being. I'm still shocked by where TX and GA rank.
Credit rating isn't a raw determination of wealth or income. It's an analysis of how quickly you pay your bills and how many loans you've taken out and paid recently.
A diligent middle class man that takes out auto loans and pays his bills every month will have a higher credit rating then the upper class man that doesn't pay his bills on time or disputes bills and pays for his cars with cash.
That's true, but it is an indication of fiscal discipline, which too many people lack, quite frankly. A middle-class person with little personal debt is more trustworthy than an overextended upper-middle-class person.
As for the list, Colorado, Virginia, Utah, New Jersey, Texas and Georgia all ranked lower than I thought they would, and Wisconsin, Hawaii, Pennsylvania, Missouri, Tennessee and West Virginia all ranked higher than I thought they would.
Quote:
Originally Posted by IrishIllini
This is true. Debt to GDP ratio gives a better picture of a states' financial well-being. I'm still shocked by where TX and GA rank.
I figured Georgia would be in the lower-middle quintile, not second-worst.
Credit rating isn't a raw determination of wealth or income. It's an analysis of how quickly you pay your bills and how many loans you've taken out and paid recently.
A diligent middle class man that takes out auto loans and pays his bills every month will have a higher credit rating then the upper class man that doesn't pay his bills on time or disputes bills and pays for his cars with cash.
Thanks, but you don't need to tell me what a credit rating is.
Group
Average Credit Score of Home Buyer & % of Borrowers with Score < 620
Asian 745 2.60%
Black or African American 677 21.30%
Hispanic white 701 11.20%
Non-Hispanic White 734 5.40%
All others 732 6.30%
U.S. Average 728 6.80%
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