Approaching a General Crisis

For those who have bougth a house these past years... beware! Life cost increases, taxes and interest rates increase and wages decrease. The overall perspective about the future does not seems to be promising.

The picture above represents the price of money since 1999 until today (Euribor 3, 6 and 12 months). Let's take a look before 1999 to understand where the increase of the interest rates can go.

My question is very simple: How many people are going to lose their houses? How many people have credits up to 20 or 30 years? And recently, the banks do credits up to 40 and 50 years, which is a crazyness. Such people will pass all their lives working to pay the house. From some calculations here is an example of what people are paying:

[Scrool page down... I can not take off this stupid blank space.] :|

100 000 Euros for # Years at 5% of interest rate
# years	10	20	30	40	50
Montly instalment	1 079.21	668.69	542.10	485.65	456.47
Total payed after # years	129 504.57	160 485.17	195 154.31	233 112.64	273 883.68
Total interest payed	29 504.58	60 485.17	95 154.31	133 112.64	173 883.68
Could buy	medium class car	high class car	small apartment	big apartment	house + terrain
At the end	You suffer, you cry, you don't have money during 10 years, but the future seems promising.	You can pay the college to your children, however this is worst than the instalment.	You are relieved so you can buy a completely brand new small car.	You are old without strength and money to make some improvements to the house.	The descendents inherit an old house which needs major repairs.

Now imagine is someone askes more than 100 thousand Euros!