Interest-only mortgages rest on the border between Ponzi borrowing and safe borrowing, a purgatory on the edge of the abyss of insolvency.
Debts are supposed to be paid off. People forget that simple fact and take on debt as if it is something to be endlessly serviced. Those that embrace the...
Interest-only mortgages define the Ponzi limit
Friday, September 18, 2015
OCHN: Interest-only mortgages define the Ponzi limit
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