• jordanlund@lemmy.world
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    7 months ago

    Because interest rates are insane trapping people in homes they no longer want but can’t afford to leave?

    Speaking of… My car got totalled at the end of October, shopping for a new one, I saw interest rates for me between 7 and 8%, for other folks, I saw one as high as 12.25%(!) On a CAR LOAN.

    • MelodiousFunk@kbin.social
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      7 months ago

      Because interest rates are insane trapping people in homes they no longer want but can’t afford to leave?

      I’m in this comment and I don’t like it.

      • afraid_of_zombies@lemmy.world
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        7 months ago

        Least you got a home. I am on a very long lease and landlord is getting offers. I got about 2.5 years until someone just offers him a million bucks in cash. Then I am out thousands of dollars in moving expense plus changing my kids school. Plan to fight it but I am sure I will lose.

        • interceder270@lemmy.world
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          7 months ago

          Sorry bro.

          Try to own property as quickly as you can. Unfortunately, even the market for that has gone to shit thanks to investment companies.

          This is what we get for breeding for greed. Gotta stop rewarding shitbags just because they have money and start holding them accountable for how they got it.

          It won’t happen, though, lol. These problems won’t get solved just like global warming 🤷. We don’t want to solve them.

        • MelodiousFunk@kbin.social
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          7 months ago

          Yeah, I’m aware it can be worse. I could go into details about how I got boned, but that’s not the point either of us were making. I have friends that rent and the only ones that didn’t get their nuts put in a vice were already under section 8. One couple just had to uproot again because the landlord sold. Again. Second time in three years. I can’t help them, and I hate it.

    • iheartneopets
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      7 months ago

      Interest rates should never have been that low to begin with. It was basically free money for the wealthy, and it’s how housing became such an investment for big businesses. The rates we have now are still at historic lows, they just feel high compared to the bonkers low rates of the last couple decades. I understand the frustration 100%, but lowering the rates again is NOT the answer at all.