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You'd need to be able to raise that as cash; you're going to have trouble persuading a bank to give you a mortgage for a $500,000 stake in a mars expedition.
by jameshart 11y ago
You'd need to be able to raise that as cash; you're going to have trouble persuading a bank to give you a mortgage for a $500,000 stake in a mars expedition.
- cullenking 11y agoIf the Portland real estate market is any indication, there are countless more people than you'd ever expect to be able to come up with $500k in cash.
- MichaelGG 11y agoCan you explain this? Are banks not lending in Portland? Or the down payment is $500K? (Like 10% on a $5M loan?)
- cullenking 11y agoThe Portland real estate market is extremely hot right now, and you can't get a decent house in a decent (or even not decent but "up and coming" neighborhoods) without an all cash offer, or way over asking price. Every friend that has been through the market in the last year has been beaten out of multiple bidding wars by all cash, no inspection offers 10+ % over asking price. Lots of bay area money moving up to PDX, tons of satellite offices opening up for tech companies, it's a big cultural shift that's happening pretty fast.
- jameshart 11y agoWhat's the future earning potential of a mars settler?