Re:America Can’t Even Produce the Things It Invented
by WillPostForFood on Monday January 04, 2021 @05:51PM
(#25639394)
Just flip it around, would plummeting housing prices benefit homeowners with a mortgage? No, that's a disaster (see the 2007 housing crash). Borrowing, especially at the extreme low rates, on an appreciating asset is great, paying debt on a depreciating asset is a nightmare.
[ Parent
| on HN ]
Re:America Can’t Even Produce the Things It Invented
by l3v3ll on Monday January 04, 2021 @06:38PM
(#25639807)
Flip what around? A mortgage doesn’t give you the benefits of being wealthy. Whether the market is good or bad. Anyway, the point is moot as the parent report shows the top 10% also own 41% of the houses, so the initial argument stands that the wealthy are benefiting the most.