100% financing - I understand that!

In this thread you can once again see how many people here walk around with horse blinkers on.. it's terrible!

I play piano. For quite some time.

I didn't really want to brag about it. It's actually nothing to talk about. I just find it somewhat surreal in the current crisis. By the way, I've also been playing since 2014.

Perhaps the crisis will now result in more people building up reserves in order to be able to bridge at least 2-4 months without income, provided the salary theoretically allows it. However, I think that after the crisis, everything will be forgotten in at most one or two years.

Back to the topic. Today, Deutsche Bank announced that about 50k customers have taken advantage of the deferral of their installment payment. Half of them are home financing customers

Everything cut very close

Almost all of my colleagues are coping with it. We are suppliers for the automotive and electrical industries; people are afraid and are managing as best they can. A few have probably calculated narrowly, but many wouldn’t really have needed to. But the uncertainty simply causes fear.

Perhaps the 100% financings also stem from a lack of alternatives in the real estate market. If I consider that in many areas 10,- euros cold rent per square meter is almost regarded as "affordable," then many probably decide to build with correspondingly poor conditions. Affordable rental apartments for families with 2 children are hardly available anyway and are rarely built.

Almost all of my colleagues take it with them. We are suppliers for the automotive and electrical industries; people are afraid and take it with them. A few have definitely calculated tightly, but many would not necessarily need to. But the uncertainty is what causes fear.

I also don’t understand where the idea always comes from that everyone who takes advantage of the deferral is on the verge of forced auction.
In my opinion, many see that financially it can get tight at the moment and then choose the safe path of deferral to keep a buffer. To conclude from that for the majority that otherwise the credit collapses (and not first the reserves are used up, the standard of living is reduced) is not valid in my view.