“How can you get a loan to purchase a property if you don’t have the cash to buy it at the auction?”
How do I buy something for more than I can afford? In the right economic system, the answer is you can’t. But the fact that there are other valid answers in our current economic system tells me we’re a very long way from recognizing our problems, let alone fixing them.
Clearly, if not having the purchase price for a home doesn’t tell you ANYTHING about whether you can afford it, then we still live in a world that’s way too leveraged.
