nikedude t1_jaemm34 wrote

Yea, but it's a crappy commute from almost anywhere. Stuck on single lane Rt 7 from the north, or 95/parkway traffic from the east/west.

All I was trying to say with my original comment is they would be able to grow significantly bigger within the state if they were located more centrally to commute to. Middletown/Cromwell or up by Bradley


nikedude t1_jae3tal wrote

The median home price in Wilton today is $860k. That's a ~$6k/mo ($72k/yr) mortgage + tax payment today. I would say a $250k household income would be the low end of realistically being able to safely afford that.

Westport, New Canaan, Ridgefield, Weston or Redding probably don't offer much reprieve either. Norwalk would be the only realistic housing option for someone making $60k to live in a bordering town


nikedude t1_jacp6yy wrote

The only bummer is they are based in Wilton. That will limit their future growth within the state just given the restricted housing options in the area. I've already seen billboards in BPT for them looking for more employees, but it's really not a great location to allow them to grow much bigger within the state.


nikedude t1_iwyyj25 wrote

Officially, if you already have your permit, when you go to renew, you will need to attest that you are not this:

>>You are an unlawful user of or addicted to any controlled substance (as defined in the Controlled Substances Act (21 U.S.C. 801, et. seq.).

So while legal in the state, it's still federally illegal at the moment. This might change with the latest bill sent to Biden to sign though.


nikedude t1_iuevy1u wrote

Just an FYI, most credit cards upper APRs are pushing 28-30%, so it's not exactly abnormal.

I am not advocating for payday loans (or any loan anywhere near that APR), but people do use them, and from a businesses perspective, they need to be priced high like that because the loan is absolvable in bankruptcy. So there is a high risk of default.