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I think it is important to realize that this is really a US thing. In my country people have a mortgage and that is usually it. The rest, we save money for and
by teekert 7y ago
I think it is important to realize that this is really a US thing. In my country people have a mortgage and that is usually it. The rest, we save money for and buy it when we have the money.
Our mortgages are pretty bad though and rent combined with housing prices pretty much adapt to the median income, imo, when rent goes down, housing prices shoot up to compensate and get monthly costs back at the same level where a median family need two working parents for a reasonable home in the city roughly. Now, rent has nowhere to go but up and housing prices will fall again, I predict.
- maccard 7y agoIt's not really a US only thing - based on your username I'm assuming Dutch? - a quick Google says that there was 6 billion euro in new consumer credit in the Netherlands last year, and it's been much more than that even in the past decade. People in the Netherlands seem jsut as likely to buy cars on finance and rack up credit card debt as everyone else.
- teekert 7y agoOh.. must be my bubble then :)
- brighter2morrow 7y agoAlso, due to massive migrations the distinctions between countries are disappearing. So traditional Dutch may behave exactly as you say, but if immigrants from the same source go to different countries (like Netherlands and US) but act similarly then they will push these economic metrics towards each other across their host countries.