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> The only other option is not to give them loans at all That seems like a perfectly reasonable position to take - don’t give loans to people who don’t qualify
by djrogers 8y ago
> The only other option is not to give them loans at all
That seems like a perfectly reasonable position to take - don’t give loans to people who don’t qualify for them.
- metildaa 8y agoUnder the current messed up ruleset, many people qualify for loans that they likely shouldn't, feeding a housing price bubble that is taking lifes necessities and pricing them out of the reach of most people.
- Joakal 8y agoTo exacerbate the issue. The bank employees can point out that house prices are going up. If person stops paying, they can claw back property and make profit. This makes sense in a bull market. That is until there's a recession and all house prices tank with banks selling at same time. But those previous employees? Made redundant in downturn. Who's fault is it for causing these losses?