The UK’s Financial System Will CRASH in 2023, But They Don’t Want You to Know
Why the UK’s mortgage market is a ticking time bomb of epic proportions.
One year ago I wrote an article with my personal financial rules for buying a house or a car while not drowning in debt and another article about the mathematics behind the decision between renting or buying a house. If you follow them, you should be safe, and less than 30% of your income will be used to pay mortgage installments. That is true in theory, and for most of the time.
BUT….
I made a mistake.
I didn’t mention that not all mortgages are the same. Some mortgages are perfectly fine for moments of stability, but when national economies experience moments of turbulence, these same mortgages can ruin individuals, finances, and entire countries.
And this year IS a turbulent year.
- China is suffering from a massive domino effect of bankruptcies that may trigger the mother of all real estate crises.
- Russia itself, despite the government propaganda, is suffering a massive brain drain due to economic sanctions and is losing the most qualified share of its population.
- With the increasing risk of escalation, European…