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Finance allocates capital and moves risk from parties who don't want it towards parties who do want it. > Just because I have a mortgage and a credit card does
by pgwhalen 5y ago
Finance allocates capital and moves risk from parties who don't want it towards parties who do want it.
> Just because I have a mortgage and a credit card doesn't mean I can't survive without them.
You could definitely survey without them, the same way you could survive without a car or a smartphone. A mortgage in particular is undeniably useful for many people.
- sushsjsuauahab 5y agoOnly because housing prices have been artificially inflated? I can prove how they are, but curious to know if you agree they are. Finance is a bandaid for deeper issues.
- icebraining 5y agoOnly because they have been artificially inflated? That seems unlikely; the materials and labor costs alone would take multiple years to pay off by an average family. Being able to move in immediately seems useful, even if currently we're paying way too much for it.
- smabie 5y agoI mean finance has existed for thousands of years. What are these deeper issues? Whatever they are it seems unlikely they are ever going away.