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You're not a responsible adult until you recognize debt is a tool. You can use the tool well or poorly but it is just a tool.

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And when private banks provide near-unlimited debt the total cost of the average mortgage will consume all income after paying for food/heating/fuel.

And if we get more productive disposable income will go up and that will feed into land prices.

All the rentier need do is wait.

edit: would love to hear the counter to this from whomever downvoted me - it's a fact that with our system productivity improvements flow into land prices therefore speculating on land sees you capture these gains.

I didn't down vote you but here is the flaw. Rent typically trends upward with property values which eats away at a tenants ability to save. This is particularly true in markets like NYC, SF, LDN and HK where people are paying over 50% of their paycheck to rent.

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