“People go into debt when they judge it beneficial to borrow money against their future earnings. Few can afford to buy a house outright, but many consider it worthwhile to take out a loan, which they will service and pay off over time, for the immediate privilege of living and investing in a house.”

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Originally said in English.

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About Michael J. Knowles

Michael J. Knowles is quoted here; further biographical details are not publicly available.

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"People go into debt when they judge it beneficial to borrow money aga…" — Michael J. Knowles | Daily Quotes