The biggest crisis of our time is the 21st century lending crisis. Lenders are creating outrageous terms meant to fail & giving them out to everyone just because they qualify to get fckd. The cap that they put on interest rates are determined by people lobbying on behalf of the lenders. Balloon payments should be illegal. Arbitrary adjustable payments should be illegal. When interest rates fluctuate, it's not proportionate to inflation and it does nothing but tighten the vice grip even further.
Precious metals are nothing but a store of value; the argument that we should go back to PM is a false paradigm meant to muddy the very real dialog that needs to be had. At this point if we went backed to asset beacked currency for the dollar, it would hurt the dollar more than help it due to all the cash now in circulation.
I'm too young to remember but there used to be a time when the main way people bought property was all at once. It sounds crazy but that was reality. The baby boomers messed that up living outside of their means because the financial institutions instigated it; that's why we're here.
Quoting: Anonymous Coward 84795815 Lol what? The 21st century lending crisis?
You do realize for the past almost 10 years that money has been the cheapest basically it’s ever been?
Instead of having such a strong opinion about things you clearly know nothing about, maybe try educating yourself a little bit. And that doesn’t mean watch bitchute videos. It means real education.
Once upon a time, let's go back to the 1940's, there were financial institutions that people called "building and loans" which were chartered at "savings and loans".
They existed for people to be able to get loans on property, mortgages.
We also had literally millions of GI's returning from WWII who were interested in readjusting to civilian life, get married, start a family, etc.
These folks did not, due to their service in our armed forces, have a pile of cash. Legislation was enacted allowing them to apply for mortgages.
The rule of thumb was, and probably should be for that matter, you can "afford" a house that's 3x as much as your household income.
So if you made $10,000 per year a $30,000 house was in the cards. Today if household income is $90k a house costing $275-$300k is affordable.
Go beyond that and trouble awaits.
The point being that mortgaging a property has been a routine, common behavior in the US for at almost the past century.
