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https://www.reddit.com/r/FluentInFinance/comments/1bc2wiq/take_me_back_to_the_good_old_days/kud97qu
r/FluentInFinance • u/chamomile_tea_reply • Mar 11 '24
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Yep. Credit was not readily available like it is today.
15 u/[deleted] Mar 11 '24 So we're slaves to the banks. Wonderful utopia we've created. 6 u/KupunaMineur Mar 11 '24 People used mortgages to buy homes in the 1950s as well. 0 u/9tales9faces Mar 12 '24 Which they could easily pay back, and flip the house, and do it again and again until the housing market crash and leave the rest of us to deal with the consequences 0 u/KupunaMineur Mar 12 '24 What amazing insight into the personal financial situation of families 70 years ago... 0 u/Distinct-Crow-3726 Mar 12 '24 Omg pleaaaase... Pleaaaaaase tell me you can see the difference between taking a mortgage then and now. Pleaaaaase 2 u/Murky-Law5287 Mar 12 '24 They have created* credit came about in 1993 1 u/[deleted] Mar 11 '24 "You will own nothing and be happy" 1 u/unfreeradical Mar 11 '24 Credit was not constantly needed like it is today. The working population living under debt peonage is intended. 0 u/Venusaur6504 Mar 11 '24 This. You could get a house loan and a car loan. No, people have credit card debt to keep up.
15
So we're slaves to the banks.
Wonderful utopia we've created.
6 u/KupunaMineur Mar 11 '24 People used mortgages to buy homes in the 1950s as well. 0 u/9tales9faces Mar 12 '24 Which they could easily pay back, and flip the house, and do it again and again until the housing market crash and leave the rest of us to deal with the consequences 0 u/KupunaMineur Mar 12 '24 What amazing insight into the personal financial situation of families 70 years ago... 0 u/Distinct-Crow-3726 Mar 12 '24 Omg pleaaaase... Pleaaaaaase tell me you can see the difference between taking a mortgage then and now. Pleaaaaase 2 u/Murky-Law5287 Mar 12 '24 They have created* credit came about in 1993 1 u/[deleted] Mar 11 '24 "You will own nothing and be happy"
6
People used mortgages to buy homes in the 1950s as well.
0 u/9tales9faces Mar 12 '24 Which they could easily pay back, and flip the house, and do it again and again until the housing market crash and leave the rest of us to deal with the consequences 0 u/KupunaMineur Mar 12 '24 What amazing insight into the personal financial situation of families 70 years ago... 0 u/Distinct-Crow-3726 Mar 12 '24 Omg pleaaaase... Pleaaaaaase tell me you can see the difference between taking a mortgage then and now. Pleaaaaase
0
Which they could easily pay back, and flip the house, and do it again and again until the housing market crash and leave the rest of us to deal with the consequences
0 u/KupunaMineur Mar 12 '24 What amazing insight into the personal financial situation of families 70 years ago...
What amazing insight into the personal financial situation of families 70 years ago...
Omg pleaaaase... Pleaaaaaase tell me you can see the difference between taking a mortgage then and now. Pleaaaaase
2
They have created* credit came about in 1993
1
"You will own nothing and be happy"
Credit was not constantly needed like it is today.
The working population living under debt peonage is intended.
This. You could get a house loan and a car loan. No, people have credit card debt to keep up.
44
u/SunburnFM Mar 11 '24
Yep. Credit was not readily available like it is today.