u/Bowflexthisbitch

Pretty much every asset boomers’ and top wealth percentiles own now seems based on extraction from a precarious young underclass. This eventually requires an outright suppression of economic activity - suppressed home construction to protect property values, suppressed hiring to boost shareholder margins, suppressed doctor medical procedures to maintain profitable insurance claims payout rates etc etc.

You’d think eventually the jenga tower has to become so top heavy it can’t support its own weight.

There’s been a couple articles now (and HS listings) where a 2021 pre-con or new build/flip investor now getting washed with losses of like $500K+. Do you just have to declare bankruptcy and put up your primary residence at that point? What happens if even that won’t cover the shortfall? Do people end up wage garnishing situations?

Just trying to wrap my head around how this works since this story doesn’t seem that uncommon, and drives home just how absurdly risky RE can be. At least with crypto or some other pure speculative gamble you dont usually lose more than you put in…