No it’s not. They are not buying an asset with. It’s sometimes back with with an asset as collateral but it’s not tied to an asset. The loan isn’t taken out to buy a home. It’s taken out as living expenses.
Oh, you mean as the destination of the money. But I wouldn’t be too quick to use this as criteria. Lots of people use loans like that because they get poor. Think HELOC, reverse mortgages,… Having a minimum value below which you are exempt seems much better.
No it’s not. They are not buying an asset with. It’s sometimes back with with an asset as collateral but it’s not tied to an asset. The loan isn’t taken out to buy a home. It’s taken out as living expenses.
It’s why a consumption tax would fuck the rich.
Oh, you mean as the destination of the money. But I wouldn’t be too quick to use this as criteria. Lots of people use loans like that because they get poor. Think HELOC, reverse mortgages,… Having a minimum value below which you are exempt seems much better.