If there’s one lesson every investor had taken to heart up until 2007, it was this: buy as many assets with borrowed money as possible because asset prices always rise.
Then, what happened in 2007 (as was the case in 1929) put an expensive pause to that notion. But since the Covid pandemic, investors seemed to have been restored to factory settings. (Regardless of the direction of interest rates since the start of the pandemic, equity and real estate have been on a one-way street).
