Landlords getting you to pay off the mortgage. Banks getting landlords to take the risk of failing mortgages to pay off low interest central bank loans. Central Banks using your economic activity to issue loans that entrench the powerful. Every step of the chain only rewarded by collateral and not value creation. What a system of extraction.
Back in the 90s I’d get rejected by landlords if my take home wasn’t 4x the rent.
Get rejected now for less than 3x. The solution is juat ‘die on the street’.
No, that’s illegal. They’re pushing through legislation to scoop up the homeless and throw them in the camps, too.
living on the street is illegal, dear. The trick is to slip in on the technicality!
Gotta make a retirement plan, yo. I’m gonna die of exposure in a hike when i’m too old to work.
…assuming there’s still “the woods” by then.
I would recommend dying in the bleakest way you can tjink of
assuming there’s still “the woods” by then.
Of course there will be silly, it’ll just be wholly owned by the richest individuals and companies. You won’t be able to afford to die alone in the woods, let alone hike there.
Pro tip, go pirate
You wouldn’t download a house
The fucked part is to buy a house, there’s a debt income limit because nobody thinks you can afford the payments otherwise. That limit is much lower than 2/3, a bit under 1/2 when I bought (and we were forced to buy points to lower interest to get the payment there, which could have been down-payment instead).
It’s all very fucked.
I was amazed how much “financial advisers” claim I can afford to pay for things like housing. Like you are absolutely nuts that I’m going to pay 50% of my income just on a place to sleep.
We manage at 50%, but we don’t have car payments or student loans and the alternative, renting, is much higher. With a mortgage, you also get equity and pay down principle, so it’s not just a place to sleep. It’s like 25% to bank and 25% into nonliquid savings.
Renting at 50% or higher is a full loss, though. And honestly, if you have plans to travel, have kids, or just expensive hobbies, it really eats into your ability to fucking live your life.
How else those poor landlords will be able to afford a Porsche SUV? They can’t just own only a mere BMW or a Mercedes!
