“Young people and middle-class families are forced to participate in a rat race, overpaying in an overheated housing market,” said Michiel Hoogeveen, a Eurosceptic Dutch MEP. “This is one of the consequences of your generous money creation and low interest policies to keep weaker eurozone countries afloat.”
Consider that your house is likely the biggest expenditure of your life. Consider that your biggest expenditure essentially doubled in cost in ten years. And then repeat after me: inflation is temporary.
It truly is the greatest way to tax everyone with people actually asking for more of it. Stealing a little bit from everyone and giving to the rich. Everything to keep the stock market and housing market afloat.
You will own nothing and you will be happy indeed...
Nobody is talking about what happens if and when interest rates rise and market prices have to fall, which seems inevitable unless we see significant wage inflation.
A $600,000 mortgage at 2.5% costs roughly the same per month as a $500,000 mortgage at 4.25%.
People are reluctant to move house or change jobs & cities during the pandemic. This reduces the liquidity in the market. Could the reduced liquidity trigger most of the price rise?
Asset inflation affects people like me who prefer to avoid debt. I'd rather make interest than pay interest, by saving until I can afford a house. If we had higher interest rates, prices of houses would come down and help people like me.
Our system is set up with a lot of unconvincing arguments about the necessity of inflation to encourage spending over saving. Yea, saving means people buy less stuff, but maybe we don't need most of the crap we buy and would be encouraged to do without some of it if our money wasn't constantly losing value.
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[ 1.9 ms ] story [ 34.1 ms ] thread- Sweden +17%
- Denmark +16%
- Russia +14%
- Germany +12%
- Netherlands +12%
- France +6%
- Italy +2%
- Spain -0.5%
And Asia:
- China +4%
- Hong Kong +3%
- Japan +3%
“Young people and middle-class families are forced to participate in a rat race, overpaying in an overheated housing market,” said Michiel Hoogeveen, a Eurosceptic Dutch MEP. “This is one of the consequences of your generous money creation and low interest policies to keep weaker eurozone countries afloat.”
It truly is the greatest way to tax everyone with people actually asking for more of it. Stealing a little bit from everyone and giving to the rich. Everything to keep the stock market and housing market afloat.
You will own nothing and you will be happy indeed...
A $600,000 mortgage at 2.5% costs roughly the same per month as a $500,000 mortgage at 4.25%.
Our system is set up with a lot of unconvincing arguments about the necessity of inflation to encourage spending over saving. Yea, saving means people buy less stuff, but maybe we don't need most of the crap we buy and would be encouraged to do without some of it if our money wasn't constantly losing value.