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... or maybe this "landlord" is a parent who just rents out their old small house, and is now unable to make the rent or car payments
by kofejnik 7y ago
... or maybe this "landlord" is a parent who just rents out their old small house, and is now unable to make the rent or car payments
- meheleventyone 7y agoAt least they have an asset they can use to survive and make those payments.
- pbourke 7y agoHow does that change things? I think small landlords are especially exposed to the dilemma because they have fewer resources at their disposal.
- daxorid 7y agoThen they do what everyone else does. Sell the asset and cut back on expenses. Capital owners are not a special class of citizen. If you have assets and need cash, there is a way to convert one to the other. It's called a "market". You may have heard of it. It seems that during recessions, asset-rich/cash-poor people, nominally Capitalists, turn into overnight socialists because making cuts to the ol' lifestyle is for the little people, not them.