It doesn't work without equity - experience!

2016-01-21 09:55:53

You and your security. We’re all pretty much screwed when the crisis comes and the banks find a legal way to change their contract terms (like in the USA a few years ago), then no one will be able to service their loans anymore and we’ll lose our houses (again, referring to the USA). The good thing about this scenario: it basically happens to everyone.
So you security fanatics. Those who are smart simply don’t build AT ALL. We go all out and then just fall flat on our faces even harder... but hey, we went all out

yes, exactly those evil banks again want to create a real estate empire and expropriate everyone

2016-01-21 09:57:18

Well... it already happened, didn't it? Who do you get the money from when things are crisis? Right

2016-01-21 09:57:49

Is it true that contracts in the USA have been changed retroactively?

From a consumer perspective, I find that impossible in Germany...

2016-01-21 10:01:29

It is illegal after all. But they'll find a legal way when their ass is on fire. And yes, that has indeed already happened. I am happy when the gold price explodes again and you can pay off your house with 5 ounces and yes, that has also happened in our history.

2016-01-21 10:02:10

Well... it already happened, didn't it? Where to get the money from when things get tough? Exactly

you did not understand the "USA system" and their lending practices. And no, US banks do not sit on real estate assets

2016-01-21 10:05:44

The problem with the Americans was rather that they used the value of the house as collateral for consumer loans. That means the loan amount was not paid off but increased. As long as the house values also increased, it worked. But if the house value drops, the loan value is > house value.

It doesn't work without equity - experience!

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Sebastian79

Bautraum2015

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Musketier