Speaker: When I first turned 18, my dad took me to a casino. And I thought, oh. This is great. We're going to have some father-son bonding time. But he really just wanted me to learn an expensive lesson in economics.

We sat down at the blackjack table, and I'm not very good, so I started losing pretty early on. And he's like, here. Go ahead. You can borrow some of my chips. So I took his. And I lost those, too.

And then, at the end of the day, he was like, hey. You going to pay me back? I was like, wait. You wanted money back? And I ended up losing quite a bit of money that day. And I haven't gone to a casino since then.

The idea of spending more money than you have, spending someone else's money, is rarely a good idea in economics. But I think that's the main cause of the problems that we're seeing today in the housing industry.