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Loans are what drive the economy. I’ve used loans for cars and my home, as have most people in the country. Many people make decisions based on income, and not
by borski 4y ago
Loans are what drive the economy. I’ve used loans for cars and my home, as have most people in the country. Many people make decisions based on income, and not on cash they already have, as few people have massive accumulated cash wealth.
Loans are not always a bad thing.
- omgwtfbyobbq 4y agoLoans aren't a bad thing as long as they are effectively collateralized. If someone misjudges the value, volatility, etc, of collateral used for loans, those loans could be a bad thing if the borrower stops paying.
- borski 4y agoSure. That’s true of any financial instrument.