= Сообщение: 2453 из 12527 ====================================== ENET.SYSOP = От : Michiel van der Vlist 2:280/5555 09 Jun 15 15:56:55 Кому : Björn Felten 09 Jun 15 15:56:55 Тема : dailylst missing tic files FGHI : area://ENET.SYSOP?msgid=2:280/5555+5576f5ea На : area://ENET.SYSOP?msgid=2:203/2+5576ba88 = Кодировка сообщения определена как: CP850 ================================== Ответ: area://ENET.SYSOP?msgid=2:203/2+5576fe9e ============================================================================== Hello Björn,
On Tuesday June 09 2015 12:06, you wrote to Kees van Eeten:
BF> The big difference between the SEK and most other currencies seems BF> to be that the SEK almost entirely escaped the credit crisis BF> 2008-2011...
It is economies that get hit by the crisis, not the currency.
Here it hit pretty hard and the main reason is the insane policy on financing a house. Here the interest on a mortgage is tax decuctable. It is very easy to loan money to buy a house and one could even get a 120% mortgage. With no amortisation. The idea was that by the time your sell the house the vale will have increased so much that one can easely pay the debt to the bank.
Of course this only works if the prices of houses just keep rising. Which they have been doing for the ast 50 years. Next Christmas it will be 30 years ago that I bought this house for 150.000 Dutch Guilders. Now the tax collector thinks it is worth eight times than much. Or more precisely that what it was valued just before the crises.
And then what everyone should have seen coming, but only a few did or at least acted on: the housing market collapsed. Suddenly people found themselves in a situation that their house was worth less than their debt to the bank. And then when they lost their job and could no longer pay the ineterest on the mortgage, they found themselves in deep shit.
Now that the damage is done, the policy of stimulating people to loan so much is slowly being reversed. Now you can not loan more than 100% of the value of the house and the policy of tax deduction on interest is slowly being revoked. It has to be done slowly or the system will collapse.
Fortunately it hardly affected me. My house has been paid off decades ago, it does not hurt me that the hypothetical value has dropped 10%. It is and always was just a figure on a piece of paper. It won't become real money until I sell it. And if I do, I will have to buy another house that has also dropped in value. Until I stop living in a house...
All this had nothing to do with the Euro. Had The Netherlands not joind the Euro and kept the Guilder, the housing market would still have collapsed.
