So, I stumbled across this article about the Kardashian family borrowing over $132 million in home loans to expand their property empire. Yup, you read that right, even though they are billionaires! I mean, I get wanting to grow your assets, but isn’t that a bit excessive? Plus, it’s not like they’re struggling for cash, right? Apparently, their main lenders are Chase Bank and Wells Fargo, and the borrowed money goes towards their lavish mansions, condos, and land. But here’s the kicker, they aren’t even paying the loans back themselves - they’re reportedly letting the tenants cover the mortgage payments through rent. As someone who has rented before, that doesn’t sit right with me. It almost feels like a sneaky way for the Kardashians to make more money while someone else foots the bill. Overall, I think this article brings up some interesting questions about wealthy individuals borrowing money and their responsibility to pay it back themselves. It’s always a good reminder that just because someone is rich, doesn’t mean they can’t get in over their head with debt.
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