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<blockquote data-quote="HoLeChit" data-source="post: 3794555" data-attributes="member: 35036"><p>I think we are. The extra cash is coming from people more willing to go into debt. All lenders are raising their mortgage approval amounts, especially Fannie Mae and Freddie Mac. So people can get approved for more, people will pay more, house prices continue to climb. The amount of debt in this country is honestly horrifying. Just last year we added 1 trillion in household debt and 4.5 trillion in mortgage debt in the US last year. It’s not sustainable. Our entire economy is floating on borrowed money. It has for a long time, but things are getting out of control, and there’s no stopping the snowball now. </p><p></p><p>[URL unfurl="true"]https://www.reuters.com/business/us-household-debt-increased-by-1-trillion-2021-most-since-2007-2022-02-08/[/URL]</p></blockquote><p></p>
[QUOTE="HoLeChit, post: 3794555, member: 35036"] I think we are. The extra cash is coming from people more willing to go into debt. All lenders are raising their mortgage approval amounts, especially Fannie Mae and Freddie Mac. So people can get approved for more, people will pay more, house prices continue to climb. The amount of debt in this country is honestly horrifying. Just last year we added 1 trillion in household debt and 4.5 trillion in mortgage debt in the US last year. It’s not sustainable. Our entire economy is floating on borrowed money. It has for a long time, but things are getting out of control, and there’s no stopping the snowball now. [URL unfurl="true"]https://www.reuters.com/business/us-household-debt-increased-by-1-trillion-2021-most-since-2007-2022-02-08/[/URL] [/QUOTE]
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