Greece has high homeownership. Rent is obviously different but even with rent, it was harder to get evicted. The difference is that with mortgage, you probably already paid a big chunk of money and that bank can afford to get delayed payments, while rent might be paid to an individual who doesnt have the same flexibility.
One of the main drives of the “reforms”, is that now banks can easily sell their lower performing mortgages to hedge funds, etc since it will be easier to evict people and auction their houses.
Ultimately, all people have a need for shelter, it is a fundamental human right. So unless the state does something about this, people should have a place to stay. But would the bank do if they take over the house? Banks dont need houses, people do. Banks just love hoarding stuff.
If the state offered free basic housing, maybe we could allow capitalism to be more brutal. But the main reason the state isnt offering free housing(at least not to the extend it used to), is because of capitalism.
Now add the fact that the greek economy literally collapsed and everyone was unemployed, you can see why protecting the primary residence was so crucial in order to maintain social stability. But they dont care, now they are putting people’s houses out on auctions. But not without resistance and resistance is working. And the banks know this, so they are more “willing” to negotiate.
Only in the land of the free, where everyone has guns(in order to oppose a TyRAniCaL gOvERmEnT), noone resists somehow. Individualism has brainrotted the americans to an extreme level. What would happen if your entire neighborhood came to your help? What would the cops do? Shoot everyone?
Well, maybe in the US they would. But in normal countries, a cop shooting anyone is almost certainly going to lead to the collapse of the government.
I don’t know how things work in Greece, but in the US the process of mortgage foreclosure and eviction takes way more time than evicting a renter who is no longer paying rent. In other words, the bank is already willing to wait longer than a landlord for a delinquent occupant to resume payments.
After foreclosure a bank does the exact same thing as a landlord: they look for a new occupant, i.e. offer housing to someone who needs it.
Banks most certainly do not “hoard” the property. In fact, banks are usually far more impatient than private individuals who want to sell their homes. The unwillingness of banks to hold real estate is another reason why they end up selling it at a discount.
In Greece, if you stop paying rent then can you keep living in your apartment rent-free? Or will you be forced to find another home?
If people who stop paying rent are forced to find a new home, then so should people who stop paying their mortgage.
Greece has high homeownership. Rent is obviously different but even with rent, it was harder to get evicted. The difference is that with mortgage, you probably already paid a big chunk of money and that bank can afford to get delayed payments, while rent might be paid to an individual who doesnt have the same flexibility.
One of the main drives of the “reforms”, is that now banks can easily sell their lower performing mortgages to hedge funds, etc since it will be easier to evict people and auction their houses.
Ultimately, all people have a need for shelter, it is a fundamental human right. So unless the state does something about this, people should have a place to stay. But would the bank do if they take over the house? Banks dont need houses, people do. Banks just love hoarding stuff.
If the state offered free basic housing, maybe we could allow capitalism to be more brutal. But the main reason the state isnt offering free housing(at least not to the extend it used to), is because of capitalism.
Now add the fact that the greek economy literally collapsed and everyone was unemployed, you can see why protecting the primary residence was so crucial in order to maintain social stability. But they dont care, now they are putting people’s houses out on auctions. But not without resistance and resistance is working. And the banks know this, so they are more “willing” to negotiate.
Only in the land of the free, where everyone has guns(in order to oppose a TyRAniCaL gOvERmEnT), noone resists somehow. Individualism has brainrotted the americans to an extreme level. What would happen if your entire neighborhood came to your help? What would the cops do? Shoot everyone?
Well, maybe in the US they would. But in normal countries, a cop shooting anyone is almost certainly going to lead to the collapse of the government.
https://en.wikipedia.org/wiki/2008_Greek_riots
A society that refuses to provide everyone with shelter and food, while it can afford it, is not a society that needs to continue existing.
I don’t know how things work in Greece, but in the US the process of mortgage foreclosure and eviction takes way more time than evicting a renter who is no longer paying rent. In other words, the bank is already willing to wait longer than a landlord for a delinquent occupant to resume payments.
After foreclosure a bank does the exact same thing as a landlord: they look for a new occupant, i.e. offer housing to someone who needs it.
Banks most certainly do not “hoard” the property. In fact, banks are usually far more impatient than private individuals who want to sell their homes. The unwillingness of banks to hold real estate is another reason why they end up selling it at a discount.