4 ms·

Re: the house, no, most people don’t sit and read it: https://themortgagereports.com/39671/home-closing-what-you-need-to-read-what-you-can-skim https://themortg

by lesam 5y ago

Re: the house, no, most people don’t sit and read it: https://themortgagereports.com/39671/home-closing-what-you-need-to-read-what-you-can-skim https://themortgagereports.com/39671/home-closing-what-you-n... . Even professional investors with millions of dollars of investments don’t appear to read or negotiate the documents until it looks like it might matter: https://www.creditslips.org/creditslips/2022/03/odd-lots-podcast-the-narrowly-avoided-russian-debt-default.html https://www.creditslips.org/creditslips/2022/03/odd-lots-pod... People just don’t care that much about legal documents until it looks like it will matter. People’s choice of individual contract provisions at most wage earning jobs, health care, rentals, or vacations is basically nil - they mostly don’t care to read it and so the writers of the contracts put in egregious terms.

makeitdouble 5y ago
Your links had me thinking for a while. On themortgagereports, setting aside that the other camp from "the absolutists" is the former HUD Secretary Alphonso Jackson, who is like, one man, who could also probably litigate his way out of any serious trouble, it still gets to the conclusion: > The important point is that there is much that should be read in home closing materials. Whether you should read every word is arguable. On professional investors, I wouldn't also hold them as the shinning beacon representing what most of us think or do with money, contracts or responsibilities. I don't get the feeling that most people don't read, just that it's a deeply painful and frustrating experience that some people bail out from. Like tax reports, or homeworks. I still think most people are way too scare to not take the time to check as much as they can, for them these papers could affect the next 30 years of their life. Also there's whole sections that can be skimmed pretty fast, but it's different to me than "not reading".

by lesam 5y ago

makeitdouble 5y ago

Your links had me thinking for a while. On themortgagereports, setting aside that the other camp from "the absolutists" is the former HUD Secretary Alphonso Jackson, who is like, one man, who could also probably litigate his way out of any serious trouble, it still gets to the conclusion: > The important point is that there is much that should be read in home closing materials. Whether you should read every word is arguable. On professional investors, I wouldn't also hold them as the shinning beacon representing what most of us think or do with money, contracts or responsibilities. I don't get the feeling that most people don't read, just that it's a deeply painful and frustrating experience that some people bail out from. Like tax reports, or homeworks. I still think most people are way too scare to not take the time to check as much as they can, for them these papers could affect the next 30 years of their life. Also there's whole sections that can be skimmed pretty fast, but it's different to me than "not reading".