People can literally collect loan from a bank to expand whatever business they have been doing, that's not moving. Or collect loan to make their business be up to standard or to collect a loan to start a business or anything they want to solve.
People have several reasons for turning to loan. Even though there are some wrong reasons why some people take loans. We live in a world where disasters looms, and some people can be victims of this disasters. If, no financial succor, is forth coming to save them, they probably would resort to loan.
As we have an unending reasons why people take loans, I have come across someone's comments some where on a different platform, where the person says "He is looking to taking a long term loan to build an expensive house, then he will rent it out, then he will be using the rent to be paying the loan back".
Now, how do you see this, taking a loan to build a house, not ordinary house, an expensive one, then the money from rent will be use to be offloading the debt of the loan.
Let's consider the loan term(duration) to be btw 15-30 years.
Your opinions......?