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Mortgage Delinquency Rates Grew Faster Than Any Other Debt Type In May (www.investopedia.com)

submitted 1 week ago by yogthos@lemmygrad.ml to c/us_news@lemmygrad.ml

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[–] materialanalysis1938@lemmygrad.ml 8 points 1 week ago (2 children)

Man where have I seen this movie before?… oh yeah, 17 fucking years ago when the exact same kind of speculative housing market collapsed and led to a massive upward transfer of wealth.

I’m sure this time the bailouts will go to the workers though.

[–] yogthos@lemmygrad.ml 4 points 1 week ago (1 children)

Yeah, it's literally the exact same dynamics again, but the difference is that the working majority is on far thinner margins today than they were in 2008.

[–] materialanalysis1938@lemmygrad.ml 4 points 1 week ago

Eventually buying homes here in the USA is going to be a thing of the past. Everyone will merely be a renter. But capitalism isn’t the problem if you ask the majority of Americans. Even the ones who will agree will say “we should be more like Denmark!”