me_irl

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me_irl (lemmy.radio)

submitted 3 days ago by sanitation@lemmy.radio to c/me_irl@lemmy.world

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[–] LaLuzDelSol@lemmy.world 12 points 3 days ago (2 children)

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.

[–] Skullgrid@lemmy.world 16 points 3 days ago* (last edited 3 days ago) (1 children)

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.

[–] LaLuzDelSol@lemmy.world 1 points 3 days ago

I'm not crying for the banks, but that's why they don't just give out loans to anyone.

[–] WoodScientist@lemmy.world 2 points 3 days ago

If there is ever an economic crisis that results in housing prices dropping, the banks get bailed out.