Scorpius wrote:
It sounds so fucked up, bro, my condolences. Reading the above, I begin to think that my $400 a month, which costs me my mortgage and ALL utility bills, is actually a huge luxury.
It is a bargain.
considering that the incomes in Russia are getting closer and closer to our standards, and there is a really small difference now.
A 50m2 app now needs about $110k, and the 30 y mortgage for it will cost about $800 a month. Add the other luxuries like heating&electricity, exploitation costs etc, and you have about triple of your expanses. Easilly.
That is why I was talking about disposable income. If we compare this, and it is the only thing that matters, it might turn out that you are actually wealthier than most of the Europeans, and that was even before this crazy times. It is not an accident that Russian tourists has spent 30% more per capita on holidays. Those money must be coming from somewhere.
zorobabel wrote:
How does your mortgage double? Do you have a variable rate loan? Those are mostly illegal in most Western countries.
Getting from history low reference rate to never seen in the last 15 years high in 2 months can do wonders my friend!
There are no fixed-rate mortgage loans here like forever. 99% are variable. But I hardly believe it is illegal, as it is obviously normal in the UK and Germany.
caveat emptor wrote:
You took an ARM mortgage for your primary residence?
I feel for you bro, but that is amateur move.
I still remember a mess Poland had with CHF indexed mortgages back during Great recession. Almost took whole banking sector down.
Neither first, nor second
And the CHF was hardly a mess.
I do have a CHF denominated mortgage loans either
It affected a very specific part of the consumers actually.
The ones who were financing the purchases in 2008/2009, when the CHF/PLN ratio was insanely low, and were trying to leverage.
Bankster system was settled for squeezing them like lemons, giving the loans higher than the immobility value.
Some banksters financed up to 130% of the total immobility value, without any buyers' capital involved. Most of the people just consumed the gap.
And it hardly brought down any of that shit eaters, as that were never a CHF loans in reality. Nobody was setting a secure positions with CHF options. They have just made people to cover that.
It was the liquidity ratios that were pushed down in the whole bankster sector, as increasing CHF struck the credit portfolio value and forced them to settle additional securities as the immobilities value was getting smaller and smaller part of the credits. Some of that, they have forced the borrowers to cover. But they could not in some cases.
To give you an impression, a friend of mine was crediting a home valued at 500 000 CHF at the moment. It was about PLN990 000. Now, it is about PLN2.500 000. CHF ratio he was taking the money was PLN1.98. Now it is almost PLN4.95. And the home value is maybe at 1.2mln, max.