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Rock-bottom rates convert German savers to spending
After diligently setting aside his earnings for years, Sebastian decided last year it was time to splurge. With interest rates at record lows, the 36-year-old took out two loans and bought a three-bedroom flat in a leafy Berlin suburb for 228,000 euros. "I don't think it's ever been as cheap as it is now," the IT specialist said. He is paying interest rates of just 2.15 and 2.40 percent on 5- and 10-year loans totaling 130,000 euros ($178,300). Sebastian, who asked that his last name not be used, is one of a growing number of Germans who are suppressing their inclination to save and, instead, shelling out - on ... (full story)
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- Comment #1
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- Feb 23, 2014 11:42am Feb 23, 2014 11:42am
- fierceman
- | Joined Mar 2007 | Status: Seņor Member | 429 Comments
- Comment #2
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- Feb 23, 2014 1:19pm Feb 23, 2014 1:19pm
- Pip Anon
- Joined Jan 2013 | Status: Trading defies logic | 1796 Comments
When the facts change I change my mind, what do you do sir
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- Feb 23, 2014 1:34pm Feb 23, 2014 1:34pm
- Spreadbetter
- | Membership Revoked | Joined Feb 2012 | 3235 Comments
"The meek shall inherit the earth.." Yeah right, good luck with that shit..