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Joined 2 years ago
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Cake day: December 18th, 2023

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  • I bought my first apartment when interest rates were around 1% (the 2010s were wild). I paid 30% less every month to the bank than a comparable rent, utilities excluded in both.

    On top of that, the payment was 40% interest and 60% went towards the principal, so basically investing.

    To put it in numbers, imagine the apartment you like is 1000 euros a month in rent. You decide to buy. Now you pay 700 euros to the bank each month, of which 300 is interest and 400 is paying down the loan, so you will probably get it back if/when you sell it. You “lose” 300 euros am month instead of 1000.

    Another example, buying a car to go to work (or any other tool). If you don’t have cash but need a car, getting a loan and being able to work is better than not having debt but being unable to work.
















  • I disagree on all counts.

    It’s not exploitative, it doesn’t exploit anyone.

    It’s not trash, and if it were you wouldn’t need to regulate it because people would reject it on the merits.

    The space belongs to whoever wants to create art, with whatever tools they want to do it. Gatekeeping and true Scotsman arguments are really grasping.

    I don’t know what “social value” is created. A nurse or a fireman create social value. You won’t see them worrying about AI. If AI could put out fires they would definitely be interested.