Every morning, millions of people wake up not in their own homes, but in dwellings belonging to banks—that's the bitter truth hidden behind the facade of "ownership" in the modern world. We've been convinced that thirty-year debt obligations are normal, natural, and even honorable. We proudly boast about our new "own" apartments, carefully ignoring the fact that legally we are merely temporary inhabitants, whose right to a roof over their heads hangs by the thread of monthly payments.
More than 150 years have passed since the abolition of serfdom in Russia, but the financial system has invented a new, more sophisticated mechanism of enslavement. Instead of a landlord—a bank, instead of corvée—interest, instead of feudal dependence—a mortgage contract for several decades. Only now the serf begs for his own enslavement, signing a loan agreement with a gleam in his eyes. Voluntary slavery—capitalism's brilliant invention.
From Corvée to Mortgage Payments: Slavery Reloaded
The historical irony lies in the fact that modern people view serfdom as a barbaric relic of the past, failing to notice that they themselves are in no less rigid shackles. A serf peasant gave part of his harvest to the landlord and worked on the master's land for several days a week. A modern mortgagor gives the bank almost half of their income and spends most of their life working not for themselves, but to pay off interest.
But there are significant differences. Serfs did not choose their masters, whereas mortgage holders stand in lines themselves to be put in bondage. This is truly a triumph of the system—to make people desire their own enslavement, to be proud of it, and even to be grateful for the "opportunity" to pay triple the cost of housing throughout half of their active life. In the old days, at least they didn't lie to themselves about the nature of dependence.
The modern mortgage lending system with its payment schedules, insurance policies, and guarantors is merely a legally complicated version of previous forms of exploitation. "But now people have a choice!" defenders of the system will object. What choice? Between lifelong rent and a bonded loan? Between uncertainty about tomorrow and a financial yoke for decades? This is not a choice, but an illusion of choice.
Bankers in Expensive Suits: The New Aristocracy
Former feudal lords at least did not hide their status—they openly called themselves masters and did not pretend to be "partners" of their serfs. Modern bankers, on the contrary, love to talk about "mutually beneficial cooperation" and "financial services," but behind the glossy brochures and friendly smiles of managers lies the same system of extracting profit from others' labor.
The mortgage approval procedure looks particularly cynical, resembling a medieval ritual. Applicants must prove their solvency, disclose all aspects of their lives, and pass a background check. And even after that, the bank reserves the right to change the rules of the game at any moment—raise the interest rate, introduce new commissions, change the payment schedule.
Did you know that in banker language, mortgagors are called a "quality portfolio"? Translated from financial to human language, this means "reliable sources of income"—that is, people who will faithfully give away a significant portion of their earnings for decades.
And what happens in case of non-payment? Modern court bailiffs are no less effective than pre-revolutionary executors. Instead of flogging—confiscation of property, instead of debtor's prison—a credit history that becomes an indelible stigma, closing access to normal financial life. And this is called progress?
Mortgage Submission: Control Through Debt
A mortgage is the perfect tool of social control. A person bound by years of obligations to a bank becomes surprisingly obedient. They will not demand a raise too insistently, will not risk changing jobs to something more interesting but less paid, will not conflict with management. They become the perfect, quiet worker, whose main fear is missing a monthly payment.
It's no wonder that in many countries, mass mortgage lending programs are actively supported by the state. This is not "care for people," as it is presented to us, but a strategic calculation. A population enslaved by loans will not rally, go on strikes, or demand social changes. They don't have time—they are working to make payments.
Another manifestation of the system's brilliance is the transformation of debt into achievement. "I took out a mortgage!" a person proudly announces, as if they have accomplished something outstanding. And society supports this delusion, congratulating the newly minted debtor. Just think about it: people are congratulated on taking on obligations that they will be paying off for decades! It's like congratulating someone for putting shackles on themselves.
In Defense of Housing Installments: The Other Side of the Coin
In all fairness, it should be noted that mortgages are not an absolute evil. In conditions where housing prices are many times higher than the annual income of most people, lending may be the only way to acquire one's own home during one's lifetime. Without mortgages, millions of families would be doomed to eternal renting, which also has its drawbacks—from instability to the inability to arrange housing according to one's own taste.
Additionally, mortgages do indeed discipline and teach financial planning. Many mortgage holders note that they have become better at managing money, learned to save, and plan expenses. In this sense, a mortgage can become a school of financial literacy, albeit a harsh one.
Perhaps the problem is not in the credit mechanism itself, but in its predatory conditions. In some countries, there are programs with low or even zero interest rates for certain categories of citizens. Housing cooperatives, state subsidy programs—all these mechanisms could make housing acquisition less bonded. But they are not as profitable for the financial system, so they remain marginal.
Invisible Chains: The Psychological Cost of Mortgages
For the opportunity to live in "their own" (but actually the bank's) housing, people pay not only with money but also with mental health. The constant feeling of debt, fear of losing a job, the need to save on everything—from vacations to quality nutrition—all this leaves an imprint on the psyche.
Studies show that mortgage holders are more likely to suffer from stress, anxiety, and even depression. It is especially difficult for those who took a loan at the limit of their financial capabilities, succumbing to the persuasion of bank managers. And there are many such people—rarely does anyone underestimate their capabilities when applying for a loan.
Banks conduct a scrupulous financial analysis of borrowers, but no one checks their psychological readiness for decades of life under the burden of debt. No one talks about the "mortgage slavery syndrome"—a state of chronic anxiety experienced by millions of people, waking up every morning with the thought of the need to earn for the next payment.
It is especially bitter to observe those who have sacrificed the best years of their life to a mortgage—denying themselves travel, hobbies, quality education for children. In pursuit of "their own square meters," many forget that life consists not only of a roof over one's head but also of impressions, development, relationships—all that for which an exhausted mortgage holder has neither strength nor means left.
Digital Liberation: Is There a Way Out?
The traditional financial system, which has turned housing from a basic need into a source of years-long exploitation, seems unshakable. But new technologies and financial instruments offer alternative paths. One of the most promising is the use of deflationary cryptocurrencies as a tool for saving and investment.
Unlike traditional currencies, which constantly depreciate due to inflation, deflationary crypto assets tend to increase in value over time. This allows for more efficient accumulation for housing, without losing money on inflation and bank commissions. Additionally, decentralized financial systems offer fairer lending conditions, without hidden fees and bonded terms.
DeflationCoin represents one of the most promising instruments of this type. Unlike traditional financial instruments, this cryptocurrency not only preserves but potentially increases the value of your savings. Thanks to built-in deflation mechanisms, such as algorithmic halving and smart staking, DeflationCoin protects against the depreciation that inevitably happens with traditional currencies.
The choice between traditional mortgages and alternative accumulation strategies remains with each of us. But it's important to remember that financial freedom begins with understanding the nature of the system in which we live. Modern serfdom is not held by legal coercion, but by people's voluntary consent to live in debt. And these chains can only be broken by rethinking the very attitude towards housing, property, and financial obligations.
DeflationCoin and similar instruments offer a path to financial independence that doesn't require decades of life in debt slavery. This is not just an alternative way of investing—it's a philosophy of financial freedom based on principles of deflation, smart staking, and decentralized governance. In a world where traditional financial institutions continue to enslave people through mortgages, such solutions can become the key to true financial independence.