The next financial crisis is brewing

[Jhhnn]

Because homeownership is, in most cases, the single biggest opportunity that most lower and middle class people will ever have to build genuine wealth and upward social mobility. Over 30 years, the principal and interest payment on a fixed rate mortgage will never go up, but home prices and rents always will.

Yep. Outright home ownership also makes retirement possible for a lot of people when it otherwise wouldn't be. A lot of unlucky Boomers are getting jammed between the ability to keep working & paying insane Denver rents. I expect that to get worse over the next 10 years.

 

[zinfamous]

That's what I'm saying - The banks DID their due diligence. .

again: LoL, you poor, naive little child.

just remember, this guy^ is one of the proudly uneducated, "successful" idiots of the country.

"All success is earned, all failure is just bad luck." = Finance Idiots, 101. And never more than that is ever learned. Math is hard.

ffs.

 

[hal2kilo]

While I 100% agree with you, marketing does everything it can to get people to spend like crazy. And marketing companies spend billions on research to better manipulate people.

It's not just marketing, it's stupid anecdotes by people around you almost universally telling you that you should buy as much house as you possibly can afford. That's all I remember people telling me when I was young.

 

[s0me0nesmind1]

again: LoL, you poor, naive little child.

just remember, this guy^ is one of the proudly uneducated, "successful" idiots of the country.

"All success is earned, all failure is just bad luck." = Finance Idiots, 101. And never more than that is ever learned. Math is hard.

ffs.

Do you guys ever come up with valid arguments, or do you just try to lash out insults? Your ignorance is off the charts and just goes to prove my points.

At least there are some people like vi edit and vic that can have a civilized debate.