Hacker News new | ask | show | jobs
by 1anh2kqowg 3612 days ago
I don't know if I'm clear, here are some analogies:

Chemical plant contaminated nearby housing development, some homeowners sell at a discounted rate to investors who hope to profit after a successful cleanup.

Pension funds buy Argentine bonds in the 90's. When it becomes clear Argentina is unwilling to pay it's debts, some sell to a vulture fund who has a better chance of collecting.

In both cases, some of the current owners of distressed assets are not sympathetic. That doesn't change the fact that a major loss of housing/bond interest/rent is occurring.