4 ms·
you’re trying to frame taking out a standard mortgage on a house as irresponsible gambling so no don’t see how that’s similar to a corporation who burned billio
by tempsy 4y ago
you’re trying to frame taking out a standard mortgage on a house as irresponsible gambling so no don’t see how that’s similar to a corporation who burned billions using cheap money and ended up trashing their company
- alldayeveryday 4y agoNo, re-read my comments. I said taking a mortgage on a much larger home than you need, or taking out multiple mortgages, or doing debt arbitrage (all, risky moves). You threw in the word "standard" as a means to misrepresent my argument.
- MisterMower 4y agoMany people are buying homes exclusively for the price appreciation. They are using leverage to turn a $50k down payment on a $400k house into a capital gain of $200k when the price of that house rises to $600k. In the process, no actual value has been created. But the gambler, er homeowner comes out way ahead. Someday interest rates will return to historical norms, and these folks will get crushed. They partied hard, and the hangover will be epic. Financial prudence, scorned for the past 20+ years, will be back in style again.