alt Hacker News> they had access to a lot of basically free cash
What? Cash is never ever free. If it's your Scrooge McDuck cash vault, you're losing money by not investing it. If you borrow it, you're paying interest on it.
https://romanroyce.com/wp-content/uploads/2022/02/ScroogeMcD...
Mortgage rates were below inflation. That’s same as free money and why so many investors bought as much as they could leverage