Custoslibera@lemmy.world to Memes@lemmy.ml · 1 year agoDon't be fooled Billy, it's not really a job, more of a parasitic relationshiplemmy.worldimagemessage-square291fedilinkarrow-up11.3Karrow-down1137
arrow-up11.16Karrow-down1imageDon't be fooled Billy, it's not really a job, more of a parasitic relationshiplemmy.worldCustoslibera@lemmy.world to Memes@lemmy.ml · 1 year agomessage-square291fedilink
minus-squaredarq@kbin.sociallinkfedilinkarrow-up7·1 year agoIt literally is no problem if you already have assets to use as collateral. The problem is that most people don't.
minus-squareKnightfox@lemmy.onelinkfedilinkarrow-up2·1 year agoThis is the answer, literally this is what millionaires have been doing for ages. It's just unique that the COVID era interest rates were so low that it made it so that 100-thousand-aires could do what millionaires had already been doing.
It literally is no problem if you already have assets to use as collateral. The problem is that most people don't.
This is the answer, literally this is what millionaires have been doing for ages. It's just unique that the COVID era interest rates were so low that it made it so that 100-thousand-aires could do what millionaires had already been doing.