3/ instead of buying a house you can just spend the money on a ticket to mars instead. The problem with that logic is that the only reason
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Replying to @kevin_bowen
4/ ordinary middle class people are able to afford a several hundred thousand $ house is because banks are eager to lend people the money
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Replying to @kevin_bowen
5/ for it, because it's a very low-risk loan, because it's collateralized by the house itself - if you miss your payments, they repo the
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Replying to @kevin_bowen
6/ house and aren't out any money. But no bank is going to lend you a few hundred k for a ticket to mars - it's completely
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Replying to @kevin_bowen
7/ uncollateralized! There's nothing to repo if you miss your payments!
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Replying to @kevin_bowen
the idea is that most people have a net worth of a few hundred thousand by the time they're in their 40s
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Replying to @MorlockP
Some people do, but I don't think the average middle class person does. I'm almost in my 40's, with well above mean income, and
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Replying to @kevin_bowen
well, ok, poor word choice. But Musk doesn't need a hundred million couples. He just needs a few thousand.
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Replying to @MorlockP
Yeah, I'm sure there will be plenty enough people willing to go, it's just that they'll be mostly 1%'ers. Musk is trying to argue
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meh you're assuming a static world. What percent of people could afford cars in 1908 ?
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