this post was submitted on 16 Oct 2023
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It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says (www.businessinsider.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says::undefined

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[โ€“] eek2121@lemmy.world 3 points 1 year ago (1 children)

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.

[โ€“] RickRussell_CA@lemmy.world 1 points 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.