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

submitted 1 year 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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[-] JasSmith@sh.itjust.works 2 points 1 year ago* (last edited 1 year ago)

I guess my mortgage could be considered bad debt on account of being adjustable interest rate - this is however the most common type of mortgage arrangement in Sweden where I live. This has led to my interest rate costs going up an eye watering 400% in about a year.

As a Dane am I envious of some of your systems like investeringssparkonto, but we have the better mortgage system. My home loan is locked in at 1% for 30 years.

You guys have had ENORMOUS immigration over the last eight years without building homes at commensurate rates. No wonder it placed pressure on housing. I don’t think your government had a realistic housing and immigration plan. I guess that’s why they were voted out. I hope things improve.

this post was submitted on 20 Oct 2023

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