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How mortgages work

September 12, 2024
Wealth Inequality Enough is Enough Tax Wealth Not Work Economics of Covid Rich get Richer Poor get Poorer Economics Explained Tax the Rich End Austerity Billionaire Poverty
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how<00:00:00.280> do<00:00:00.399> you<00:00:00.560> buy<00:00:00.760> a<00:00:00.960> house<00:00:01.680> in<00:00:01.800> a<00:00:01.959> world<00:00:02.280> where

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how do you buy a house in a world where

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how do you buy a house in a world where you're<00:00:02.800> poor<00:00:03.040> and<00:00:03.159> the<00:00:03.280> rich<00:00:03.679> have

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you're poor and the rich have

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you're poor and the rich have everything<00:00:05.440> the<00:00:05.600> answer<00:00:05.920> is<00:00:06.200> you<00:00:06.319> borrow<00:00:06.640> the

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everything the answer is you borrow the

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everything the answer is you borrow the money<00:00:07.000> from<00:00:07.200> the<00:00:07.359> rich<00:00:07.799> and<00:00:08.040> that<00:00:08.599> that's

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money from the rich and that that's

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money from the rich and that that's mortgages<00:00:10.040> and<00:00:10.200> mortgages<00:00:10.840> have<00:00:11.080> been<00:00:12.080> the

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mortgages and mortgages have been the

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mortgages and mortgages have been the way<00:00:12.480> that<00:00:12.639> we<00:00:12.759> have<00:00:12.920> squared<00:00:13.440> this<00:00:13.599> circle<00:00:14.040> for

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way that we have squared this circle for

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way that we have squared this circle for the<00:00:14.400> last<00:00:14.679> 20<00:00:15.040> years<00:00:15.280> in<00:00:15.400> this<00:00:15.599> country<00:00:16.440> so

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the last 20 years in this country so

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the last 20 years in this country so they<00:00:16.720> need<00:00:16.880> to<00:00:17.039> keep<00:00:17.240> people<00:00:17.400> owning<00:00:17.760> property

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they need to keep people owning property

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they need to keep people owning property but<00:00:19.279> inequality<00:00:19.800> is<00:00:19.920> rising<00:00:20.199> and<00:00:20.359> Rising<00:00:21.279> the

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but inequality is rising and Rising the

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but inequality is rising and Rising the middle<00:00:21.680> class<00:00:21.880> are<00:00:21.960> losing<00:00:22.199> their<00:00:22.400> assets<00:00:23.279> so

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middle class are losing their assets so

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middle class are losing their assets so how<00:00:24.080> do<00:00:24.279> we

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how do we

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how do we keep<00:00:26.279> Ordinary<00:00:26.720> People<00:00:26.960> owning<00:00:27.439> property

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keep Ordinary People owning property

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keep Ordinary People owning property when<00:00:29.599> in<00:00:29.720> a<00:00:30.000> equality<00:00:30.279> is<00:00:30.439> rising<00:00:31.160> because

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when in a equality is rising because

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when in a equality is rising because Rising<00:00:31.840> inequality<00:00:32.320> of<00:00:32.439> wealth<00:00:32.719> means<00:00:33.079> you

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Rising inequality of wealth means you

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Rising inequality of wealth means you lose<00:00:33.440> your<00:00:33.640> assets<00:00:34.360> but<00:00:34.640> we<00:00:34.760> need<00:00:34.920> you<00:00:35.040> to<00:00:35.160> lose

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lose your assets but we need you to lose

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lose your assets but we need you to lose your<00:00:35.440> assets<00:00:35.719> but<00:00:35.879> keep<00:00:36.040> your<00:00:36.239> house<00:00:36.719> how<00:00:36.879> is

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your assets but keep your house how is

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your assets but keep your house how is that<00:00:37.200> possible<00:00:38.120> the<00:00:38.239> answer<00:00:38.559> is<00:00:38.800> increasing

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that possible the answer is increasing

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that possible the answer is increasing debt<00:00:40.200> so<00:00:40.320> you<00:00:40.440> can<00:00:40.600> keep<00:00:40.800> your<00:00:41.039> house<00:00:41.760> and<00:00:41.879> you

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debt so you can keep your house and you

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debt so you can keep your house and you can<00:00:42.079> just<00:00:42.200> get<00:00:42.360> more<00:00:42.520> and<00:00:42.640> more<00:00:42.800> and<00:00:42.920> more<00:00:43.039> and

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can just get more and more and more and

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can just get more and more and more and more<00:00:43.280> in<00:00:43.399> debt<00:00:43.559> to<00:00:43.719> the<00:00:43.840> rich<00:00:44.719> that<00:00:44.879> way<00:00:45.000> you

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more in debt to the rich that way you

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more in debt to the rich that way you stay<00:00:45.399> a<00:00:45.520> property<00:00:45.760> owner<00:00:46.079> but<00:00:46.199> you<00:00:46.320> become

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stay a property owner but you become

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stay a property owner but you become poorer<00:00:46.800> and<00:00:46.920> poorer<00:00:47.239> generation<00:00:47.640> after

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poorer and poorer generation after

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poorer and poorer generation after generation<00:00:48.360> so<00:00:48.520> it's<00:00:48.920> really<00:00:49.199> mortgages<00:00:49.760> and

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generation so it's really mortgages and

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generation so it's really mortgages and debt<00:00:50.199> are<00:00:50.320> like<00:00:50.480> the<00:00:50.640> magic<00:00:51.520> solution<00:00:52.039> that

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debt are like the magic solution that

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debt are like the magic solution that works<00:00:52.440> for<00:00:52.600> the<00:00:52.680> government