Comment by dastbe
6 days ago
we’re talking about wiping out most of the stored wealth of roughly a quarter of all homeowners here. and they cannot take that home with them when a new job opportunity comes up or worse get fired/sick.
this sounds more like a suicide pact than a plan.
Is it great? No! It's certainly not an outcome I would wish for anyone. I'm not a monster.
But there's two things here:
1. allowing people freedom to make their own choices.
2. the dangers of borrowing large sums of money
Adding those two together in a free(for some notion of free) market means there will be losers. In this case, the outcome sucks but it isn't like they lost their life in a car crash.
If you start guaranteeing outcomes... that way madness lies.