Some different dynamics from 2008. Back then mortgages were being given out to anyone without any regard to their income or expectation of ability to pay back the loan. Ninja loans; no income, no job, no assets. Teaser rate mortgages given out on the assumption that always increasing property values would make it possible to refinance forever.
Inflation is not a huge concern for me. Nor is falling property values. I've got a job so I can expect my salary to somewhat offset inflation. Money getting cheaper means it's easier for me to pay off my mortgage. I've got a fixed rate mortgage so my monthly housing costs aren't inflating. It doesn't really matter if I'm underwater on the loan unless I'm forced to sell the property due to unemployment.
The price of property will keep increasing as long as there is demand and money to support the prices. And there's a lot of money sloshing around. I saw estimates of up to $500 billion just in covid related stimulus fraud. All those billions thrown away on stupid college degrees. That's a lot of faggoty college professors sporting $300k salaries. They can afford a lot of house. That street shitter censorship corporate lawyer of twitter making $17 million per year. She ain't worried about paying a million for a house.
Some different dynamics from 2008. Back then mortgages were being given out to anyone without any regard to their income or expectation of ability to pay back the loan. Ninja loans; no income, no job, no assets. Teaser rate mortgages given out on the assumption that always increasing property values would make it possible to refinance forever.
Inflation is not a huge concern for me. Nor is falling property values. I've got a job so I can expect my salary to somewhat offset inflation. Money getting cheaper means it's easier for me to pay off my mortgage. I've got a fixed rate mortgage so my monthly housing costs aren't inflating. It doesn't really matter if I'm underwater on the loan unless I'm forced to sell the property due to unemployment.
The price of property will keep increasing as long as there is demand and money to support the prices. And there's a lot of money sloshing around. I saw estimates of up to $500 billion just in covid related stimulus fraud. All those billions thrown away on stupid college degrees. That's a lot of faggoty college professors sporting $300k salaries. They can afford a lot of house. That street shitter censorship corporate lawyer of twitter making $17 million per year. She ain't worried about paying a million for a house.