In 2008 the economy tanked because the banks had made a habit of cough approving mortgages that they knew people couldn’t afford in the long run. Then they auctioned off those subprime mortgages to smaller banks, and played hot potato until oopsie, economic depression.
If we’re in this boat, who the fuck is buying a home, who approved their loan, and how the fuck is 2008 not right around the corner again?
I think the interest rate has a lot to do with the declining value of commercial real estate. I think the banks are trying to cover losses. Small businesses going fully remote makes it difficult to sling commercial real estate at the old rates.
I think this is also behind the odd fetish of returning to the office we read so much about.
Mine is people who separate words when they write. I’m Norwegian, and we can string together words indefinetly to make a new word. The never ending word may not make any sense, but it is gramatically correct...
So how much "bad" debt are you in?
Hear about how much debt everyone in the US has all the time, curious about some of your stories!...
18+ What irritates you the most with your own language?
Mine is people who separate words when they write. I’m Norwegian, and we can string together words indefinetly to make a new word. The never ending word may not make any sense, but it is gramatically correct...