Within a year: 💲1600 principal payed back. 🚀 Mission accomplished. (Plus💲74k in interest.) Now I can imagine how 3rd word countries must feel with tonnes of IMF debt labeled as “development aid”

👇🏻

“Let’s run a thought experiment today:

I have come across someone’s mortgage payment receipt from Canada. It’s a variable home loan rate with a mortgage extension to 63 years, yes you read that right. So far this person has paid off $1603 of principal and $74,328 of interests.

This example is an extreme and Canada housing market is an extreme example for various circumstances at this moment, but it helps looking into extremes to consider where we all could be headed down the road.

In the majority of the world Real Estate has gotten about 40% more expensive last 5 years. We all know this is because of inflation and QE as this same Real Estate is flat against the gold since forever. However, people are earning wages in FIAT, not in gold.

If we continue down the road of money debasement, which seems mathematically guaranteed and if this Canada example was to spread worldwide, would people actually put up with this? Would people raise their voices?

Or would people just accept this as a new normal or at the best case scenario maybe just give up on buying altogether and keep renting until the end.

Would love to hear your opinions on this one 🙏

Take care!

#financialeducation #danijelzoric #personalfinance”

Danijel Zoric via Linkedin 🔥

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