Comment on Uber Eats or something idk
bier@feddit.nl 2 weeks agoWhat does that mean? Where I live you borrow a certain amount of money and you pay it back plus interest (in my case 3.5%), and that percentage is fixed for 20 years. In 20 years I expect to have paid most of that entire amount back and my house should be mortgage free
Asetru@feddit.org 2 weeks ago
Yeah. He borrowed money for a house at 1.5%. Then inflation hit almost 10 during covid and our salary didn’t fully cover this but was raised way more than 1.5%. Money lost value much faster than his debt increased, so the banks effectively lose money on him while his paycheck grows faster than his debt increases.