One of the economic models that works pretty well, until it doesn't is the continuous spend It probably has other names but the way it works is you spend future income to live better now. For example you wouldn't have enough money to buy a house or a car for years so you borrow the money and pay it back with interest over time.
If the value of the asset goes up you managed to buy it at a low price and if it depreciates, like a car,, you got the use of it.
Ideally your income is also increasing during the payoff period and if the asset also increases, you can continue to trade up or refinance with cash out to buy more things.
It becomes a problem when the income dries up and you can't make the payments. The whole system require a reasonable stable environment, at least for you, to maintain your lifestyle.
It has of course been very successful for many but disastrous for a few.
Out current Government went to deficit spending quite a while ago. It has promoted growth and has not yet caused a crash. Some object to it but these are equivalent to those who would tell you not to have a mortgage. There is a chance they will be proven right but one wonders what happens to all those renters when the money loses its value?
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