In Jan 2021, the 30-yr mortgage rate was 2.65% and average new home price in the US was $401,700.
Today the 30-yr mortgage rate is 5.65% and average new home price is $546,800.
Assuming a 20% down payment, that's a 95% increase in the monthly payment (from $1,294 to $2,525).
A moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk.
Moral hazard + lack of ability to perform economic calculation = really big problem
Someone cashed out 5000BTC yesterday making a whopping a $95,000,000 profit
Original price of acqusition was $698 for him which is a 2800% increase from current price
What a guy