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by ButlerianJihad
52 days ago
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Payday loans are not illegal. By your definition, and Wikipedia's modern definitions, a payday or car-title loan is not exorbitant, and it is not usury. The payday loan shops around here are licensed, legitimate businesses working with regulated financial instruments. > Low interest rates (i.e. freer moneylending aka more usury) increases house prices. You just contradicted yourself. What is usury again? Low interest rates, freer moneylending, is "more usury"? You write in the present tense that freer moneylending and low interest rates are more usury than usury? Are the rates exorbitantly low? Is there an exorbitant number of customers? https://en.wikipedia.org/wiki/Predatory_lending |
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In the ancient sense of the term, which this comment https://news.ycombinator.com/item?id=47880310 used, all moneylending is usury.
More loans are approved and/or borrowers are approved for bigger loans in low interest rate environments. This leads to high house prices. Hence, the "more usury" comment that I wrote. In that one sentence I had the same ancient definition of usury in mind.
I hope you don't believe low interest rates = expensive houses is something I made up.
If you think I'm contradicting myself sure go on. I find it easy to hold two definitions of a word in my head and use the correct one in the right context. But I understand that not everyone can and some may find it confusing.