4 ms·
Lots of people think like this. During the housing crash there were lots of news reports about people earning mid six-figures losing their homes because they we
by bookbinder 8y ago
Lots of people think like this. During the housing crash there were lots of news reports about people earning mid six-figures losing their homes because they went out of their way to buy extravagant mansions they could barely afford, rather than a more modest-sized luxury home they could have paid for outright in a year or two.
- bilbo0s 8y agoEven more of those hundred-thousandaires bought condos that they couldn't afford. We ended up with over-built areas like Chicago's Loop and Miami, because so many of them got exposed when it all nearly imploded. (All of it probably would have imploded without the bailouts.)