Quote:
Originally Posted by Lauxa  Okay, so let's say we are in a world where you either have a house or you don't... either have a car or you don't... What are we looking at? More rental property and leases on vehicles? Is that so bad? |
I don't think that a world without lending would necessarily mean you either have a house (or a car) or you don't. I think more likely it would mean a lot of people would be driving a $1,000 or $2,000 car instead of a $20,000 or $30,000 car. Maybe people would care for their cars better, because they would be thinking of them as very long term investments, not something they are going to trade in in 3 to 5 years. As for houses, maybe people would be more likely to be a house that fits what they
need instead of what they
want. Maybe more people would buy a house as a
home instead of as an
investment. Those things may or may not happen, but I believe they would be very beneficial changes to see take place.