If you need to borrow money to get it, don't get it.
Discussion
That’s how bubbles happen and things become disconnected from reality again 🤦🏼
I don't know. I'm about to purchase many acres for cheap and financing it with the owner. Seems like it is a great time to borrow for an appreciating asset. Like if I could borrow to buy Bitcoin, I would.
If you borrow money you never purchased anything...
What does that mean?
What I'm trying to say is, for example, if you have a mortgage, it is not your home. It is the banks. If you finance a car, it is not yours. It is the banks or owned by whoever has given you the loan. Only once paid off will it be "yours". Basically cut out the middle man, the bank and own.
And if a bank is stupid enough to loan money and I purchase Bitcoin. And I hold the keys. I own the bitcoin, even if there is a balance on my loan. And maybe I even walk away from said loan. That's a win for me. in my opinion. I may or may not being speaking about a past experience. Lol.
Well now you are talking about something that is morally wrong. That isnt a win.
Hmm. Not to me. I am looking forward to the banks failing. And credit scores are a scam in my opinion.
I agree with this. Let the banks fail! 🙏💪💯
If you dont like credit scores, wait till you hear about digital IDs and social credit scores! 🤦♂️🌎🤡