this post was submitted on 23 Jul 2023
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Yes
Not the same, a house can't be a legal person, the owner is the legal person of the house. The money Musk borrowed in twitter is owed by twitter, not by Musk. To do the same with a house, you need to do it through a company.
That is possible because companies can have limited financial responsibility, meaning the money they owe are not owed by their owners.
It's a pretty nifty arrangement, to help the rich stay rich no matter what happens.
We are stupid for not being rich enough, and still allowing the rich unfair advantages.