Reply to European Expansion: Eye-Opening, Frustrating, and Possibly Not Worth It

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[quote=Anonymous][quote=Anonymous]But in Europe, you probably are not taking on a 30 or 40 year mortgage.  They're going to renegotiate it every 10 years, but the mindset is to pay it off quickly or not buy a house to begin with.

So many in the U.S. are house poor with nearly half their pay going to housing and they can't just get out of it on a whim.  The whole mindset in Europe is different.  Most don't dream big to begin with. They work to live.

Our economy has been financialized.  Look at how much Visa takes from a vendor on every purchase.  The stores pass that on to you.  You pay a lot in the USA for financing and insurance and you get very little from those rackets. [/quote]

Do you actually believe what you write?

Americans have less mortgage debt than most Western Europeans. Significantly less than those in Scandinavia. Europeans are refinancing only because they most don’t have access to a 30 year fixed rate mortgage.

Again, Americans have less personal debt and less mortgage debt than Germans, the French, British etc. You may not feel this is the case, but it is. 
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