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Swedes' Lover Affair With Luxury and Credit About

to end, as mortgage rates about to double...

BlackfDes
post 13.Nov.2018, 09:16 AM
Post #16
Joined: 27.Dec.2008

QUOTE (Gjeebes @ 12.Nov.2018, 05:08 PM) *
http://www.friatider.se/ingves-bol-ner-nto...-att-f-rdubblas1) "Interest rates on mortgages will then double, "said Stefan Ingves, according to DI."2) "He ... (show full quote)


Well the commentator could be like a stopped clock and be right twice in 24 hours! Some years ago, five or 10-ish, an Australian financial and housing commentator predicted that housing prices would crash by 30% ... 30%!! OMG!! We're DOOOOOMED!! He was so certain of his position that he had sold his house and declared that he would walk up the highest mountain in Australia if housing prices and a credit crunch did not occur within two years. Of course his comments got considerable media coverage.

Guess what he did after the two years was up?

He said it was a long, long walk after he had done it!


And Gjeebes, why didn't you pay out on Australia's credit dependence and looming financial crisis? So much worse there than here in Sweden. They are just finishing a Royal Commission into banking and credit practices over the last 10-15 years, and the conclusions have not been very flattering to the banks. Pretty sure those sort of predatory behaviours would not happen here due to the strength of the financial regulatory system here.

But it just reinforces why people have abandoned this forum - kvetching curmudgeons who inhabit this site!
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ChocOwl
post 13.Nov.2018, 11:40 AM
Post #17
Joined: 17.Jan.2011

QUOTE (Gjeebes @ 12.Nov.2018, 04:08 PM) *


Fria Tider as a news source. Hmmm. LOL.
Surely there is a better source to link to?
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Bsmith
post 13.Nov.2018, 12:31 PM
Post #18
Joined: 25.Jun.2009

QUOTE (skogsbo @ 12.Nov.2018, 09:23 PM) *
Coming from Yorkshire and living in Småland I expect to get the same mileage out my clothes as a car!!


snåjåp
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intrepidfox
post 13.Nov.2018, 02:07 PM
Post #19
Location: Gothenburg
Joined: 18.Jul.2012

Swedes' Lover Affair With Luxury and Credit

Maybe Fiki would be interested
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Gjeebes
post 13.Nov.2018, 02:55 PM
Post #20
Joined: 20.Feb.2012

Maybe people have abandoned this forum because many of those who remain can't focus long enough to make any sense.

Here we have a "swedish" forum with a post about the Riksbank raising rates, with comments on the consequences for mortgages and consumption, all done on credit.

So far, most of you tards have commented about 1) leasing cars 2) Australian politics and 3) (an old "classic") complaining about the "source" (as if it matters who quoted what Stefan Ingves said, according to DI).

Thing is for those of you who still live in Meatballia, is that you are stuck with "that", and thereby have no choice but to defend her, in all her greasy glory.

Y'all seem to be a good match for each other. Now, y'all go stick yer heads back up yer asses, where theys belongs. lol
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wallace1837
post 13.Nov.2018, 03:26 PM
Post #21
Joined: 21.Oct.2012

QUOTE (Gjeebes @ 13.Nov.2018, 02:55 PM) *
So far, most of you tards have commented about 1) leasing cars 2) Australian politics and 3) (an old "classic") complaining about the "source" (as if it ma ... (show full quote)

This is active denial. First they deny the source, then they deny the information, then they deny reality, then they get Swedish citizenship because they integrated well...

Even if a broken clock give the correct time twice a day, a broken system needs to be on denial... Housing, education, health, immigration, pension, etc.
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skogsbo
post 13.Nov.2018, 03:48 PM
Post #22
Joined: 20.Sep.2011

I don't think there is head in the sand. I want to be mortgage free by age 55 and slowly retiring. So I'm over paying even the repayment loan to get rid of it quicker.
Nationally the end of 100% interest only home loans etc will progressively help and hopefully they will keep increasing the margin over the years as people adjust.

Is Swedish borrowing any worse, less secure than anywhere else? Banking regulations here are two decades ahead of the rest after they suffered a mini crash in the early 90s and reformed. That's why they didn't suffer in 2008 and the don't have the stored up problems that the euro nations have with countries in southern Europe.
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BlackfDes
post 13.Nov.2018, 04:30 PM
Post #23
Joined: 27.Dec.2008

QUOTE (Gjeebes @ 13.Nov.2018, 03:55 PM) *
Maybe people have abandoned this forum because many of those who remain can't focus long enough to make any sense.Here we have a "swedish" forum with a post abou ... (show full quote)


Confirmed! Gjeebes is a kvetching curmudgeon!
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Gjeebes
post 13.Nov.2018, 04:31 PM
Post #24
Joined: 20.Feb.2012

"Banking regulations here are two decades ahead of the rest..."

And that is quite likely just a confirmation of their attempt to prepare to pay the piper for 10 years of "prosperity" in the Greasy Meatball, based almost entirely on credit spending.

Housing crisis, education crisis, migration crisis, but...yay, another government surplus this year! (as if national debt even ever enters the "discussion").

But let's not forget what's being discussed here. The extra padding around the Meatballian Banks, will it be thick enough? Some Meatballian banks' main business is...you guessed it...MORTGAGES!

Let's see how well they do when Sven and Gunn-Brits across greater Meatballia start defaulting on their loans.

And where will they live after they lose their undeserved "home"?
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skogsbo
post 13.Nov.2018, 04:44 PM
Post #25
Joined: 20.Sep.2011

Nope. The regulations and reform years ago were as much to do with trading, leverage etc.. So they have a much larger comfort zone than the measures that most of Europe put in after 2008.

Mortgage, whilst Stockholm prices are silly. Much of sweden is significantly cheaper where you certainly don't need to borrow 3 or 4 times your annual income get a home. Any credit crunch will impact the shops, gadgets, boats, ski industry etc.. the relative luxury items or lifestyles.

Because income and tax returns are publically available it is very easy for companies to check people's earnings too, so folk over borrowing is less risky when compared to closed system like the UK.
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skogsbo
post 13.Nov.2018, 04:47 PM
Post #26
Joined: 20.Sep.2011

QUOTE (Gjeebes @ 13.Nov.2018, 03:31 PM) *


Just admit it. No matter how much you dredge around and try and make sweden sound bad, you still want to live here! Don't be bitter, come back.
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wallace1837
post 13.Nov.2018, 04:50 PM
Post #27
Joined: 21.Oct.2012

QUOTE (skogsbo @ 13.Nov.2018, 04:44 PM) *
Because income and tax returns are publically available it is very easy for companies to check people's earnings too, so folk over borrowing is less risky when compared to ... (show full quote)

It does not mater what is publicly available. You have to prove your income to get a mortgage. There is not advantage of publishing the tax report and income of every citizen.
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wallace1837
post 13.Nov.2018, 04:55 PM
Post #28
Joined: 21.Oct.2012

Sweden is not the worst, but it is pretty bad: https://data.oecd.org/hha/household-debt.htm#indicator-chart . Sorry again for posting data, I know people don't like it here. You can now comment on how Sweden count stuff differently and other fallacious argument below.
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Gjeebes
post 13.Nov.2018, 04:59 PM
Post #29
Joined: 20.Feb.2012

"Because income and tax returns are publically available it is very easy for companies to check people's earnings too, so folk over borrowing is less risky when compared to closed system like the UK."

Umm, Swedes are indebted ~170-180% of their disposable income. It was reported previously that an increase in monthly costs of a mere 350 USD would fold many Meatballian households...reported 3 years ago.

And with negative interest rates, banks' profit margins only do well by bulk lending, right?

So, your argument makes as little sense as you do in general.

I am debt free for more than a decade. You have 4 mortgages. Who is living the high-life?
Oh please, do tell...
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Gjeebes
post 13.Nov.2018, 05:29 PM
Post #30
Joined: 20.Feb.2012

Wallace, you do realise people here in general actually engage the persona "gamla horsecock", right? He has never lived in Meatballia, and that is no secret, yet he has all the answers, and many seem keen to engage him anyhow.

Not a very serious/discerning place by any measure.

So the level of intellect is not very, how to say? - High?

Contributing facts here, is, while noble, in fact, on the Meatballs, a lost cause, and on TL, an utter waste of electricity.
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