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The house is a real physical thing. Obligations, debt, bankruptcies, these are all abstractions. Ideally the abstractions should lead to the real physical thing
by im3w1l 6y ago
The house is a real physical thing. Obligations, debt, bankruptcies, these are all abstractions. Ideally the abstractions should lead to the real physical things being taken care of. If they don't, something may be wrong with the abstractions. But we should be clear that there will always be some waste, so the question is if waste is higher than it needs to be.
- lotsofpulp 6y agoYes, but that didn’t happen until 2014, while the economic realities were clear to investors (including people deciding where to live and raise families) for decades already. Unfortunately, the political machine can move slower than society needs it to and in the meantime, the infrastructure and real physical things degrade.