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Kaidran
Joined: 17 Mar 2010 Posts: 289
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admin Site Admin
Joined: 14 Jul 2005 Posts: 1826 Location: Greater Boston
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Posted: Thu May 27, 2010 12:39 pm GMT Post subject: |
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The Economist had a similar article last week. There was one thing that wasn't so obvious:
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Surprisingly, the least numerate were not making loan choices that differed much from their peers. They were about as likely to have a fixed-rate mortgage as the more numerically able. They did not borrow a larger share of their income. And loans were about the same fraction of the house’s value.
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Kaidran
Joined: 17 Mar 2010 Posts: 289
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Posted: Thu May 27, 2010 1:43 pm GMT Post subject: |
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Very interesting I did wonder if people that are bad at math were just more easily sold bad mortgages. From the Economist article it would seem that they are just bad with money period. I guess that would promote the idea of a shifting loan limit or interest rate (risk) based on a math test score, which would be an interesting (though unworkable) concept. |
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Kaidran
Joined: 17 Mar 2010 Posts: 289
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Posted: Thu May 27, 2010 1:47 pm GMT Post subject: |
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I'm proud to say that I scored 5 out of 5 in the test through the Economist article, though it scares the crap out of me that anyone might not. |
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