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On the other hand, if someone offers to let you make an infinitely leveraged 500,000 dollar bet that you can walk away from at any time provided you are OK with
by CamTin 9y ago
On the other hand, if someone offers to let you make an infinitely leveraged 500,000 dollar bet that you can walk away from at any time provided you are OK with the consequence of being unable to access another mortgage loan or to rent (because of outstanding housing debt), then probably don't take that bet.
- TrickyRick 9y agoBut wasn't a big part of the '08 crisis the fact that you actually could walk away from all of it as a home owner and the banks were stuck with the loss? Sure it sucks to be homeless but it suck a hell of a lot less than being homeless with huge debts.