re: Cousin just asked me for money: he’s a high income earner and parents are wealthy

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He’s fricked on that end. Upside down

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How is he upside down in this real estate market?

Did he spend a bunch of money renovating houses in the ghetto thinking hipsters would pay $200 a night plus cleaning fees to stay in the "real" part of [urban shithole]?

50k? Pffft. Tell him to make peace with his parents, negotiate with the lenders holding the mortgage on his stupidity or consult a bankruptcy attorney. Hard lessons learned are the most valuable ones. If you want to piss away your money go to Vegas and have a good time.