On average, people rack up as much debt as they possibly can. Making the minimum payment isn’t that difficult as long as they’re employed. Doing so allows them to maintain a particular image they desire. Carrying insane levels of debt allows these people to use things they technically can’t afford but instead pay them off over a very long period of time. This is a never-ending cycle that will result in massive levels of bankruptcy.
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Sources Used in This Video:
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Buying a home with a home equity line of credit | CIBC
https://www.cibc.com/en/personal-banking/loans-and-lines-of-credit/articles-resources/home-equity-line-buy-home.html
Online Payday Loans Canada | Money Mart Loans Online
https://www.moneymart.ca/loans/cash-advance
Lennar will help pay student loans to help Millennials buy a house
https://www.usatoday.com/story/money/2017/10/01/homebuilder-help-millennials-pay-student-loans-and-get-house-but-good-idea/706436001/
Manhattan apartment sales plummet in January to 2012 low
https://www.reuters.com/article/us-new-york-property-cityrealty/manhattan-apartment-sales-plummet-in-january-to-2012-low-idUSKBN1GH2WU
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Philippine Central Bank Pledges Timely Action as CPI Surges - Bloomberg
https://www.bloomberg.com/news/articles/2018-02-06/philippine-inflation-surges-to-highest-in-more-than-three-years
Google Is Helping the Pentagon Build AI for Drones
https://gizmodo.com/google-is-helping-the-pentagon-build-ai-for-drones-1823464533
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