sanitation@lemmy.radio to me_irl@lemmy.world · 2 days agome_irlimagemessage-square169linkfedilinkarrow-up11.11Karrow-down114
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minus-squareLaLuzDelSol@lemmy.worldlinkfedilinkarrow-up13arrow-down2·2 days agoThat’s not completely true, because it depends on the future value of your house. Plenty of banks got burned in the early 2000s when they gave out too many loans and then all of a sudden the houses weren’t worth what people owed on them.
minus-squareSkullgrid@lemmy.worldlinkfedilinkarrow-up21arrow-down1·2 days agoI’ll shed a single tear for those banks who reposessed those houses that are now worth an absolute fucking fortune when I get a house of my own.
minus-squareLaLuzDelSol@lemmy.worldlinkfedilinkarrow-up2·1 day agoI’m not crying for the banks, but that’s why they don’t just give out loans to anyone.
minus-squareWoodScientist@lemmy.worldlinkfedilinkarrow-up2·1 day agoIf there is ever an economic crisis that results in housing prices dropping, the banks get bailed out.
That’s not completely true, because it depends on the future value of your house. Plenty of banks got burned in the early 2000s when they gave out too many loans and then all of a sudden the houses weren’t worth what people owed on them.
I’ll shed a single tear for those banks who reposessed those houses that are now worth an absolute fucking fortune when I get a house of my own.
I’m not crying for the banks, but that’s why they don’t just give out loans to anyone.
If there is ever an economic crisis that results in housing prices dropping, the banks get bailed out.