In the ghetto, they take windfalls such as insurance settlements and go out and buy a Cadillac SUV.
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OK ... just so I have this clear ... this phenomenon only happens in the ghettos?
No one who lives in a house on the beach would ever do this?
Those derrrrn poor people ... just don't have that edumacation ... hmmmm
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The rich people FIRST buy a starter house, THEN the house on the beach, THEN the Caddy SUV.
A Caddy SUV is not an investment. A house is.
If someone starts off with the Caddy SUV, it makes it harder to find capital for real investments.
Yes, education may have something to do with such choices.
There is even another point I was trying to make to Jordan: to weigh all his options. If you sell something immediately after buying it, you may not get top dollar. Sometimes it takes discipline to turn down the easy money and carefully evaluate all your options.
That said, Jordan is doing an extraordinary job. He is light years ahead of where I was when I was 16 years old!