51–60 of 203 posts
Earlier quoted context omitted.
The US is not getting poorer nor is inflation still out of control
> The US is not getting poorer then why am I being asked to bail out a generation's college loans? then why is food bank use at an all time high? then why are more six-figure earners reporting to be living paycheck-to-paycheck? then why is personal credit card debt at an all time high?
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Was it really a benefit? The only benefit is belief that Germany won't let euro fail and will bailout anybody no matter how shitty situation is. On the other side, this prevents fixing root causes. Why fix anything and make people angry if you can ride the wave, hope for the best and in worst case someone will bail you out? That's why we have this massive inflation. No real value is created, yet everybody is flush wi…
>That's why we have this massive inflation. No real value is created, yet everybody is flush with the money. Indeed. Most of EU's economic growth since the 2008 crash was just printing money and propping up assets. A bunch of wealthy boomers buying expensive houses from one another does not mean actual economic prosperity. We just printed our way into prosperity but Covid supply chain disruptions, the energy shortage…
Actually the biggest blow was not the energy costs, but the interest rates. They went from 1-2% now at 4-5, even 6% for real-estate ( new building and old ) while the prices are still at last year level. For other types of financing, I had a "good" offer which went to 12% interest. I felt like in a 3rd world country. With such expensive money, nothing will be done. The construction economy is really going dow from mi…
I had a brief interaction with a real estate agent a few months back and he told me they really have trouble selling houses now at those interest rates. The run on housing apparently has dialed back significantly. He also mentioned that he thinks in around 5 and 10 years time the market might be flooded with houses people bought at low interest rates because they will not be able to pay their mortgage at these new in…
I'm french, and everyone I know has a fixed interest rate. dont know if it is mandatory, but God, I am so glad that my interest rate will never spike.
Earlier quoted context omitted.
I had a brief interaction with a real estate agent a few months back and he told me they really have trouble selling houses now at those interest rates. The run on housing apparently has dialed back significantly. He also mentioned that he thinks in around 5 and 10 years time the market might be flooded with houses people bought at low interest rates because they will not be able to pay their mortgage at these new in…
How the f can you have such a big mortgage, with a variable interest rate, and sleep at night ? I'm french, and everyone I know has a fixed interest rate. dont know if it is mandatory, but God, I am so glad that my interest rate will never spike.
Actually the biggest blow was not the energy costs, but the interest rates. They went from 1-2% now at 4-5, even 6% for real-estate ( new building and old ) while the prices are still at last year level. For other types of financing, I had a "good" offer which went to 12% interest. I felt like in a 3rd world country. With such expensive money, nothing will be done. The construction economy is really going dow from mi…
The energy cost might be the cause of that interest rate though.
The energy companies are now planing to reduce the costs with as much as 25% from next month, since the marked is now flooded with gas and renewables ( a lof of new wind parks and solar installation will go online the next month ).
I honestly I do not know why the interest rates went up. If someone can explain the correlation with the energy price, please do.
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If things continue, in 5-10 years, dollars will be worth 50 cents, and it should be MUCH easier to pay your mortgage. And, I'll eat my hat if we don't get back to ZIRP sometime in the next 10 years.
That's not going to happen, salaries are depressed and are not keeping up with inflation by a large margin.
Earlier quoted context omitted.
How the f can you have such a big mortgage, with a variable interest rate, and sleep at night ? I'm french, and everyone I know has a fixed interest rate. dont know if it is mandatory, but God, I am so glad that my interest rate will never spike.
You pay more money for a fixed interest rate.
IMHO, it was already there, but it was in denial. Since covid, rents increases have far outpaced salary increases. And since 2022 so have bill, groceries, everything. But then again so is most of Europe.
>Since covid, rents increases have far outpaced salary increases. And since 2022 so have bill, groceries, everything. Same story in the US.