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Only debt I ever had was a mortgage and we had it during the big housing crisis and couldn't refinance, even though house prices were falling because we already had a low interest rate. Absolute nightmare.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

yeah, i personally don't see any reason to get a loan for anything... if i can't stack enough to do it, it can't be done, that's my rule

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Discussion

Laeserin 1y ago

We moved, after 5 years, and we were so relieved to just be able to sell the house and not walk away in a hole. Lots of people couldn't sell because they were upside-down on their loans.

Under Bitcoin, almost everyone would be upside-down on their loans.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

it's a bit like falling off your bike when the training wheels are removed, strong learning motivational psychology kicks in

Laeserin 1y ago

Everyone is so casual about chronically upside-down loans, but I suffered under one and they caused widespread unrest. That is some seriously nasty shit.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

and just like that, it was the last time you rode fast on a gravel road, gravel rash will do that to you