Wizards are specifically described as not engaging fractional-reserve banking, which implies that any real estate is bought without debt with saved-up funds; hence, we would also expect to see savings reflected in wizard vaults and the Davises in particular unless we think they already bought a property (in which case the 300 galleons would then become a massive underestimate, yes).
No fractional-reserve banking does not imply this—there could be lenders (whether goblins or wizards) with a large supply of their own gold which they use to make loans. Or landowners could sell property with a “rent to own” payment plan. Fractional-reserve banking is only necessary if you want to lend someone else’s gold.
I was not using implies in the logical deduction sense. Not having fractional-reserve banking eliminates a massive source of capital which could be used for mortgage lending and ceteris paribus will reduce such lending, does it not?
That muggle net worth includes property values that would not be reflected in the Davis vault.
Wizards are specifically described as not engaging fractional-reserve banking, which implies that any real estate is bought without debt with saved-up funds; hence, we would also expect to see savings reflected in wizard vaults and the Davises in particular unless we think they already bought a property (in which case the 300 galleons would then become a massive underestimate, yes).
No fractional-reserve banking does not imply this—there could be lenders (whether goblins or wizards) with a large supply of their own gold which they use to make loans. Or landowners could sell property with a “rent to own” payment plan. Fractional-reserve banking is only necessary if you want to lend someone else’s gold.
I was not using implies in the logical deduction sense. Not having fractional-reserve banking eliminates a massive source of capital which could be used for mortgage lending and ceteris paribus will reduce such lending, does it not?