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So how much "bad" debt are you in? (lemmy.world)

submitted 11 months ago by ericbomb@lemmy.world to c/asklemmy@lemmy.world

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Hear about how much debt everyone in the US has all the time, curious about some of your stories!

My bad debt is 10k left on a school loan from a for profit school that is now out of business.

Only other debt is house.

So how are you all doing with debt management?

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[-] Dkarma@lemmy.world 7 points 11 months ago

There's no subprime market ready to collapse. This isn't a housing bubble. The increase in prices is partially demand and partially inflationary imo.

Interest rates will keep prices level but we aren't going to see a crash cuz all those companies are cash flush after the ppp fraud and rental Rates skyrocketing. The only houses on the market are ppl who have to sell or ppl who died.

No one wants to jump out of a 3.2% mtg and into an 8% one

[-] foggy@lemmy.world 4 points 11 months ago* (last edited 11 months ago)

I think the interest rate has a lot to do with the declining value of commercial real estate. I think the banks are trying to cover losses. Small businesses going fully remote makes it difficult to sling commercial real estate at the old rates.

I think this is also behind the odd fetish of returning to the office we read so much about.

this post was submitted on 20 Oct 2023

106 points (96.5% liked)

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