30 year fixed rate mortgages are a massive US Gov welfare program but most americans assume they will always exist - hard to imagine them still being offered if inflation keeps running as expected
Discussion
When generational 200 year mortgages?
Inflation erodes the purchasing power of the currency and i truly believe that ₿itcoin fixes it
So you're predicting that there will be a decree that banks can only offer variable rate mortgages, sometime in the future?
Definitely possible.
It will be 60 year mortgages next
Extending duration is one way to keep the scam going. They used to be 10 year in the 1920/30s
40 year mortgages up next.
extremely rare outside of the U.S (maybe just Germany and Japan which are the most disinflationary economies)
rest of the world operates on 30 years variable rate which makes no economic sense in any scenario, especially when the entire economy is relying on this mechanism to not break
Try the new 40 year mortgage.
Stay humble. Stack irresponsibly long mortgages from banks and pay them back in Weimar marks in 30 years
then I remember what leftists did to landlords in 20th century China and Russia... and think twice
They did what?
Kill em for their stuff?
So many forget this fact long term fixed debt is repaid with devalued dollars, so that payment gets easier each and every year... I'll never pay extra on my mortgage, I'll use the extra for either bitcoin or other investments that give me a higher return than the 2.25% I'm locked in at. I'm gonna die in this place.
The weird thing is that you have to pay property taxes even if your equity is less than 5% in that particular property!
I wonder how often mortgages are used for money laundering via real estate house exchange sales. Some of the houses are not worth the money they are being sold at. very weird exchanges going on.
Most homes made these days are not worth the money. They are made cheap, and with a lot of corners cut. Since most people don't live in one home their entire life... You go to Europe and homes are hundreds of years old and built like brick shit houses. We're a fucking throw away society.
All I hear is get more Fiat while the banks still hand it out ‘cheaply’ 😅 only get’s more expensive if you wait
60 year mortgages wen