It is ‘nearly unavoidable’ that AI will cause a financial crash within a decade, SEC head says::undefined

  • eek2121@lemmy.world
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    1 year ago

    I bet every single one of them bought prior to the bubble and rate increase that started during the pandemic.

    You are outta your mind if you think they are dropping $100,000-$300,000 for a down payment on a house, only to turn around and pay $3,000-$6,000/mo for a mortgage.

    Those properties you see being sold are wealthy folks using them as investment vehicles.

    • RickRussell_CA@lemmy.world
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      1 year ago

      Those numbers are very regional, though. $100K down payment is 20% for a $500K purchase, and lots of homes are under $500K. I just bought a new home (as in, literally just built & never lived in) here in California for less than that.