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A comment on Why the government took home prices out of its main inflation index. Parent comment

Re:Why the government took home prices out of its main infla... by thathndude on Friday May 27, 2022 @10:22AM (#31529967)
I blame consumers for falling into the trap. I’m not saying the sellers don’t have a lot of responsibility here as well, but consumers need to be smarter.

It’s a pretty obvious play. I go into a dealership, and the first question the salesman asked me is “what do you want your monthly payment to look like.“ And I always respond with something (a little snarky) like “ I don’t care what my monthly payment looks like, I care about getting a good deal.” While a little snarky, I’m also trying to signal to cut the crap and let’s do business.

More consumers need to think that way. In the mortgage context, I think it makes a little more sense to focus on the monthly payment. However, when brokers are using 2 or 5 year ARMs to sell the “monthly payment,” that’s pretty unconscionable.

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Re:Why the government took home prices out of its main infla... by SilasX on Friday May 27, 2022 @10:49AM (#31530292)
It would probably be more helpful to state that as "the total sale/out-the-door price" rather than "a good deal". But otherwise, yes, definitely avoid thinking in terms of monthly payments (alone).
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