Mortgage are really hard to get right now. With the market still priced for a 3% mortgage, and the current rate being 8%, there are very few people who can qualify for a loan with a MUCH higher monthly payment.
But, this is only the beginning.
Soon, it will be very apparent that the housing market is collapsing. And there won't be any banks that will be lending on that. People would be underwater in a year, if not sooner. And so, the banks would be exposed to way too much risk. Only loans guaranteed by the govern-cement (Freddie or Fannie) will even be thought of for approval.
Add on top of that, that most small banks are about to close, or be closed. Then the medium sized banks. Then there will only be 5 banks left, and they will decide who will get a loan. And since they want everyone in a 15 minute city (open air prison), only the rich or influential will get issued mortgages.
Mortgage - An evil on our land
Mortgage - a french word meaning Death Note (mort - death, gage - paper, note, IOU)
It means you will pay until you are dead.
"He bought the farm" is a colloquialism that means, the farmer croaked, and thus mortgage is finally paid.
It means your children will pay even more that you. And their children will pay even more… of their life.
I will be glad when mortgages are gone.
However, this means that our entire structure of how we live our lives and decide where to live is gone.
House prices fall, and then fall some more
Right now, with interest rates around 8%, house prices should be about half of what they are. Just the interest rate.
On top of that, we are having all the recently built houses come onto the market with no one able to afford them. Soon we will have a lot of foreclosure houses on the market. Soon after that, we will have a LOT of boomer houses on the market.
Meaning, that soon, we will have such a glut of houses for sale, and people will be less and less able to afford them, even with the prices falling. So the prices are going to continue falling.
If one more thing gets added, such as VAXXX deaths, or migrants getting kicked out of the country (perhaps violently), people leaving cities in droves (because it got really unsafe), then the housing market will not just fall. It will collapse and become no more. How much do you pay for a house when so many sit empty? So many sitting empty without anyone being registered as an owner of it.
Mortgages going away
There is a force to drive all people into 15 minute cities. The mother WEFers are going to make it harder and harder on people and society. More lay offs. More of Blackrock buying up houses and keeping them off the market. Food becoming more scarce.
They want the housing prices to go down. Thus, they are going to keep rates high, or higher.
This will put many people into foreclosure, and this will destroy all the small banks.
These high rates will also put most of the commercial real estate into foreclosure, and that will destroy the medium sized banks.
And thus, we will be left with 5 giant, huge banks. (this is the plan)
This means that there will no longer be a shopping around for mortgages like we had just a year ago. You will have 5 opportunities, and they may consolidate the front end, so there will be only one place to go to for a mortgage. It will probably be like the DMV.
Add this to house prices falling and falling. Basically, you have nothing to secure the mortgage with. So, basically, no mortgages for normal people.
Fortunately, people are going to moving to be together with people that think like them. And they will be building communities, usually far away from cities. And these communities will make sure all of their members have housing.
If the community has more children then housing, they will make sure to build housing for the extra adults they will soon have. It will not be a "kick the kid out at 18" thing.
So, basically all the suburban houses that we spent so much time and money on, are going to be left to rot. Along with the banks, who's evil actions caused this.
No more mortgages, ever. And I am glad.