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Is it really that different from the housing bubble that popped in 2008? Leading up to that point plenty of people bought houses they couldn't afford with large
by fyfy18 8y ago
Is it really that different from the housing bubble that popped in 2008? Leading up to that point plenty of people bought houses they couldn't afford with large loans from banks, on the idea of getting rich in a short time.
- ben_w 8y agoWhile I agree with your sentiment, housing has the advantage of being directly useful in and of itself. It’s bad to lose 20% of a $200k house, but it’s still saving you rent and is a long-term wage-inflation-matching (not, and cannot be, wage-beating in the long term) asset.