i didn't realize peeps bought houses/apartments on loans in Europe. thought everyone lived and took over the old family home.
but seriously, how's that loan thing working out for you guys there when buying a home.
interact with a shitload of people daily for work in Europe and don't know one that purchased a home that way.
Like Erik said, almost everyone loans for cars, homes and education, and way too many people loan for consumer products as well. Universities here are free, but most people take loans for living costs while studying.
Most people don't ever even aim to own their house, which is weird from my point of view - a loan is meant to be paid back and my house is supposed to be mine, even if it will take a fuck ass long time. In practice, they just loan their houses from the bank and are content with that. We all know how clever that is in the long run, eh?
When/if I sell my future house (when kiddies are all grown up and it's too big for two aged hellbangers and a cat) I will make big fuckin bux and not just pay back the loans.
The smartest way to do shit here, at least the latest 10-20 years (and maybe before, dunno), is: buy 1st small shabby apartment in a decent area while in college or whatever. Live there and watch Economy raise the prices. Sell at a huge profit, buy a nicer and bigger apartment. Get a new kitchen, get some nice tiling in the bathroom etc and live there for a few years while working. Sell at an even huger profit and buy a house out here in the wilderness. Live happily ever after.
Of course, this is assuming the Big Crash doesn't hit while in the middle of all that. Up until now with Umeå as the city in question, it's been peachy bananas and it's a shame I didn't do that.
almost literally everyone takes out loans for homes and cars here. people will think i'm stupid and unrealistic just for thinking i could probably save up some of my own money and buy a house with it eventually
this, but I don't think it's stupid at all. Save while you can!