The situation in Norway is luckily a bit better than that, but I’ve heard from friends that their mortgages became a bit more expensive the last couple of years. Shit, is it really that bad in the UK? People’s payments tripled or even quadrupled? Sounds like capitalist dystopia.
From what I can gather the payments didn’t increase near that much in Norway, and we have solutions like exemption from down payments among other things for situations like the one we’re in now. I know some people with really expensive homes sold them and bought smaller cheaper ones to lighten the economic load, and a lot of people defaulted on expensive car loans. I think the situation hit people with expensive homes and cars the hardest because a lot of those people weren’t willing to adjust to the reality.
If I was allowed to get a loan I wouldn’t have gone over 1/3 of my income, just like with the rent I pay today. I’d manage, but they’re incredibly strict with who gets one.
I had no idea about all of that. I really learned something today! Already really like Lemmy and the Fediverse, I feel like most people here put some extra thought and effort into their posts and comments. I’ve used Reddit since I was 18 and it used to be the same, but as its popularity grew I guess the “wrong” kind of people started joining and participating. I think that’s bound to happen with anything that gets really big. I’ve described some social justice movements the same way, where you had people who genuinely cared in the beginning but eventually as the movement becomes a trend the values and sentiments gets simpler, dumber and eventually unrecognizable from what the initial goal was.
By the way I think there’s a little birthday cake next to my username because I created the user today lol.