Posted by DigiNomad on 5th of Jun 2024 at 10:34 am
Definitely true in Canada...and the UK. To be fair, the US
has been a bit more stable because our ponzi has been better
entrenched and backed up by a Gov with a printer and a reserve
currency. GSE's have quietly taken over the market (about 85% now)
and that allows the 30 year fixed rate phenomenon to continue in
the US whereas it doesn't really exist elsewhere where the Gov
isn't backstopping everything so blatantly. Most other places
have shorter terms and floating rates. The UK is facing impending
disaster if rates don't come down.
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Gotta keep the housing ponzi
Posted by mla127 on 5th of Jun 2024 at 10:30 am
Gotta keep the housing ponzi running ...
Definitely true in Canada...and the
Posted by DigiNomad on 5th of Jun 2024 at 10:34 am
Definitely true in Canada...and the UK. To be fair, the US has been a bit more stable because our ponzi has been better entrenched and backed up by a Gov with a printer and a reserve currency. GSE's have quietly taken over the market (about 85% now) and that allows the 30 year fixed rate phenomenon to continue in the US whereas it doesn't really exist elsewhere where the Gov isn't backstopping everything so blatantly. Most other places have shorter terms and floating rates. The UK is facing impending disaster if rates don't come down.