How mortgages work

Name: How mortgages work
Description: How do you buy a house in a world where you are poor and the rich have everything? The answer is you borrow the money from the rich and that's mortgages.…

Kanal Garys Economics

Englische Untertitel mit deutscher Übersetzung

Transkript

How do you buy a house in a world where you are poor and the rich have everything?
Deutsche Übersetzung: How do you buy a house in a world where you are poor and the rich have everything?
The answer is you borrow the money from the rich and that's mortgages.
Deutsche Übersetzung: The answer is you borrow the money from the rich and that's mortgages.
And mortgages have been the way that we have squared this circle for the last 20 years
Deutsche Übersetzung: And mortgages have been the way that we have squared this circle for the last 20 years
in this country.
Deutsche Übersetzung: in this country.
So they need to keep people owning property but inequality is rising and rising, the middle
Deutsche Übersetzung: So they need to keep people owning property but inequality is rising and rising, the middle
class are losing their assets.
Deutsche Übersetzung: class are losing their assets.
So how do we keep ordinary people owning property when inequality is rising because rising inequality
Deutsche Übersetzung: So how do we keep ordinary people owning property when inequality is rising because rising inequality
of wealth means you lose your assets but we need you to lose your assets but keep your
Deutsche Übersetzung: of wealth means you lose your assets but we need you to lose your assets but keep your
house.
Deutsche Übersetzung: house.
How is that possible?
Deutsche Übersetzung: How is that possible?
The answer is increasing debt.
Deutsche Übersetzung: The answer is increasing debt.
So you can keep your house and you can just get more and more and more and more in debt
Deutsche Übersetzung: So you can keep your house and you can just get more and more and more and more in debt
to the rich.
Deutsche Übersetzung: to the rich.
That way you stay a property owner but you become poorer and poorer generation after
Deutsche Übersetzung: That way you stay a property owner but you become poorer and poorer generation after
generation.
Deutsche Übersetzung: generation.
So it's really mortgages and debt are like the magic solution that works.
Deutsche Übersetzung: So it's really mortgages and debt are like the magic solution that works.
It works for the government.
Deutsche Übersetzung: It works for the government.

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Transkript

How do you buy a house in a world where you are poor and the rich have everything?

Deutsche Übersetzung: How do you buy a house in a world where you are poor and the rich have everything?

The answer is you borrow the money from the rich and that's mortgages.

Deutsche Übersetzung: The answer is you borrow the money from the rich and that's mortgages.

And mortgages have been the way that we have squared this circle for the last 20 years

Deutsche Übersetzung: And mortgages have been the way that we have squared this circle for the last 20 years

in this country.

Deutsche Übersetzung: in this country.

So they need to keep people owning property but inequality is rising and rising, the middle

Deutsche Übersetzung: So they need to keep people owning property but inequality is rising and rising, the middle

class are losing their assets.

Deutsche Übersetzung: class are losing their assets.

So how do we keep ordinary people owning property when inequality is rising because rising inequality

Deutsche Übersetzung: So how do we keep ordinary people owning property when inequality is rising because rising inequality

of wealth means you lose your assets but we need you to lose your assets but keep your

Deutsche Übersetzung: of wealth means you lose your assets but we need you to lose your assets but keep your

house.

Deutsche Übersetzung: house.

How is that possible?

Deutsche Übersetzung: How is that possible?

The answer is increasing debt.

Deutsche Übersetzung: The answer is increasing debt.

So you can keep your house and you can just get more and more and more and more in debt

Deutsche Übersetzung: So you can keep your house and you can just get more and more and more and more in debt

to the rich.

Deutsche Übersetzung: to the rich.

That way you stay a property owner but you become poorer and poorer generation after

Deutsche Übersetzung: That way you stay a property owner but you become poorer and poorer generation after

generation.

Deutsche Übersetzung: generation.

So it's really mortgages and debt are like the magic solution that works.

Deutsche Übersetzung: So it's really mortgages and debt are like the magic solution that works.

It works for the government.

Deutsche Übersetzung: It works for the government.