AN and I probably have different viewpoints from a lot of people we’re stereotypical asians that don’t typically borrow money to buy crap that doesn’t produce income….If we end up buying crap, it’s usually paid for in cash..Just kidding….or not…or maybe…

But seriously, i think the distinction here is good debt versus bad debt. A lot of people as we know borrow to spend and “gamble” hoping for that one shot deal.

A lot of people do other things with it (or at least try to)…

And the other thing to consider…Money borrowed on your primary is the easiest debt to discharge, as we’ve seen. Easier than credit cards and most definitely easier than any student loan. Whether it’s recourse or nonrecourse it doesn’t matter one flying fvck if you have 1 loan…because in CA there’s the one action rule. As much as we want to believe every venture, speculation will turn out the the way we want it to, one also must be prudent and figure out if crap does happen what’s the shortest way to not owe any of the money you borrowed back. And one definitely shouldn’t drain one’s retirement account at the expense of paying debt back..Because usually retirement accounts (including 529’s) are not within the realm of debt collectors.