I called this after the last recession 2008-2010 ish.
Extremely low interest rates and easily accessible finance deals would snare the unaware into massive oppressive debt.
Everyone thought the interest rates would magically stay low even though historically they have been higher than what we have been seeing for the last 10 years.
I expect it will get worse before it gets alot better, when it starts affecting house prices and puts mortgage holders into negative equity or lowers their LTV amounts to the higher interest rates then we will see alot more people struggling and foreclosures.
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I called this after the last recession 2008-2010 ish.
Extremely low interest rates and easily accessible finance deals would snare the unaware into massive oppressive debt.
Everyone thought the interest rates would magically stay low even though historically they have been higher than what we have been seeing for the last 10 years.
I expect it will get worse before it gets alot better, when it starts affecting house prices and puts mortgage holders into negative equity or lowers their LTV amounts to the higher interest rates then we will see alot more people struggling and foreclosures.
It’s going to be a painful couple of years.