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> This is a stupid response. Remember 2009 when the housing bubble popped and it effected the entire economy? With billions tied up in commercial real estate, i
by nine_zeros 3y ago
> This is a stupid response. Remember 2009 when the housing bubble popped and it effected the entire economy? With billions tied up in commercial real estate, it will have a wider impact then just office buildings and retail locations
A lot of people are so disenfranchised from the wealth that the world could crash and they could care less. They are already at the bottom with nothing to lose.
Such is the inequality in America these days.
- incrudible 3y agoAnd they are posting on HN? More likely they are posting on behalf of the oppressed person from their imagination. An economic crisis hits those at the bottom the worst, even if in absolute numbers the losses at the top may be greater. Rich people did not put all their money in commercial real estate anyway. If anything, they are reducing real estate exposure and are piling into treasuries right now.
- speakfreely 3y ago> They are already at the bottom with nothing to lose. If they have access to running water and a roof over their head, this is a wildly misinformed perspective. The people at the bottom typically feel the most pain during economic wipeouts.