3 ms·
What if you buy up the debt of rich people who can, but don't want to pay?
by oh_sigh 7y ago
What if you buy up the debt of rich people who can, but don't want to pay?
- inetknght 7y agoRich people have unserviced debt? Wouldn't that make them poor people?
- lsaferite 7y agoThat would make them highly leveraged people. /s (kinda)
- kyrieeschaton 7y agoTons of nominally asset-rich people find themselves with negative cashflow and in a personal debt crunch, even with positive net worth (or plausibly positive, depending on what assumptions you make about values in an illiquid market). You're going to see a lot of this in the near future as the real estate market implodes.