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by analog31
2957 days ago
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Cars and houses are both heavily regulated for the exact reason of information asymmetry. Markets appear to have regulated computers, but I don't know if that can be generalized to other kinds of products. I agree that schools should teach about personal finance. My son was assigned a paper to write on the payday loan business, and it was pretty eye-opening for him. |
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Not really. I've bought and sold houses and cars while knowing relatively little.
The real difference between cars, houses, and educations is that the first two are collateral and lenders do due diligence to avoid foreclosure.
Educations can't be forclosed on -- there is no collateral, and relatedly the loans are non-dischargable.