Comment on Is there any way the average American can insulate themselves from the AI bubble bursting?
pelespirit@sh.itjust.works 2 days agoReal estate
I saw that you put a caveat in there about it, but I’m going to make it a little more clear.
If anyone here has lived through the dot.com bubble in Seattle (and probably the bay area), they’ll have seen that real estate is great if it’s paid for. If you go underwater on your loan and kicked out, which is how the banks got so much real estate in 08, you’re fucked. There’s not general rule, but guides.
nimpnin@sopuli.xyz 2 days ago
In general, investing borrowed money is risky… People just don’t realize they’re doing that when they take on a mortgage.
pelespirit@sh.itjust.works 2 days ago
This reminds me that I wish there was a basic course on money and the systems around it, that explains everything like you just did. It’s not magic, but it’s obfuscated behind so many terms and people trying to sell content, that it’s not a simple thing to figure out on one’s own.