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Millennial powers
(lemmy.world)
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this post was submitted on 26 May 2024
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My country's economy is so far down the drain hole we didn't even have loans until last month, the banks were only loaning to the government because it paid better
But hey at least we have public universities
Which country do you live in?
I want to say Argentina as real house/department mortgages are being offered from 90k USD up to 250k USD, some rare cases have no limits on the amount. Those weren't available since 2017/2018 and now, because of the new government lowering of interest rates to the central bank, banks have to work like banks, loaning to people to earn on those interests instead of having the central bank work for them printing money like in the previous government
Curiously the same happened in Venezuela last month as well. Now banks are loaning for vehicles and house renovations, about 2k USD to 10k USD, Venezuela's case is more about USD being from years now the de facto currency by the people's decision. Banks save the government now want to start keeping customers/people as there is nothing much tying venezuelans to a dying currency such as the Bolivar.
The differences in amounts are staggering tho
Yep, we were headed straight to become the next Venezuela. Only time will tell if we really avoided it or not, things seem to be looking up but we've been fucked over multiple times before
I ride the same boat as you my friend. Let's hope for the best and prepare for the worst.