Butthurt normies starting to lose their houses with the high interest rates

[WizardofSoda]

The bankers for years held interest rates super low and house prices kept going up and up as normies took on more and more leverage outbidding each other to be 'above others'. Then after ten years of that and the normies were in giant mortgages, the bankers jacked the interest rates way up. Where I am the average house is about $1.5 million. Say they have 33% equity so a $1 million mortgage. At the current 7% interest rates that is $70,000 a year in interest that the normie owes to the banker.

 

[pixy.]

Hang all (((bankers)))

 

[NirvanaFan1988]

Good, they deserve all the suffering

 

[Defetivecuckachu]

I'm glad I got into my property 10 years ago when

1 - prices were at a level that one good income could service a mortgage.
2 - We were just beginning a decade of all-time low interest rates, that enabled me to pay down a lot of the principal.

I feel sorry for anyone who bought in the last 3-4 years at a huge market peak, and is now getting raped with rapid interest rates rizes on their huge loan balances.

This isn't just a normie problem, anybody who has a job but no dependent mouths to feed (due to inceldom) should be setting themselves up for financial independence later on by building up capital in something, and at the same time removing landlords from their life.

 

[WizardofSoda]

I'm glad I got into my property 10 years ago when

1 - prices were at a level that one good income could service a mortgage.
2 - We were just beginning a decade of all-time low interest rates, that enabled me to pay down a lot of the principal.

I feel sorry for anyone who bought in the last 3-4 years at a huge market peak, and is now getting raped with rapid interest rates rizes on their huge loan balances.

This isn't just a normie problem, anybody who has a job but no dependent mouths to feed (due to inceldom) should be setting themselves up for financial independence later on by building up capital in something, and at the same time removing landlords from their life.

Good work. Ya I live in a property with my brother his wife and family. I live in one suite. And a friend of my brother lives in another suite which he rents. I help pay the mortgage.