7 ms·
You can't just snap your figures and have the housing market drop by 60% and keep everything else the same. Those same people are going to lose their jobs and
by lamontcg 4y ago
You can't just snap your figures and have the housing market drop by 60% and keep everything else the same.
Those same people are going to lose their jobs and burn through all their savings and be unable to secure loans to buy houses.
Even if you bank at a supposed safe and secure credit union, a systemic crisis will affect them as well. You won't be able to get a loan. There goes your opportunity.
The whole financial and economic system is intertwined and you're part of it, if it blows up and crashes into the rocks, you're going down with the ship as well. Get over your Main Character Syndrome where you think you're going to be the one immune to the catastrophe.
- 88913527 4y agoI know many good, hardworking people who secured their position on the housing ladder in the aftermath of the global financial crisis. In conversation, they were bewildered by how much their homes appreciated even by 2018, well before the pandemic bump in valuations.
- lamontcg 4y agoDestroying the depositors in SVB is not the way to go about lowering housing prices. Please figure out for yourself why that is true.
- BeFlatXIII 4y agoPerhaps it's accepting their fate and making sure they take others with them.
- lamontcg 4y agoDestroying the whole economy just as long as one silicon valley VC goes down with them? We're fucked if those people win, and I'm seeing that sentiment come from liberals and conservatives alike.