Thread
The goal should be to make housing so affordable that you move to a 20-year mortgage. Having to offer 50-year mortgages is a sign that things have gone terribly awry.
"Sign the line here, in half a century you'll own your house outright!"
Laughably out of touch.
Replies (5)
Same story with higher education... Artificial scarcity leads to higher prices, which leads to government-subsidized loans, which leads to higher prices, because the seller can now charge more...
In the case of housing, the "artificial scarcity" part is largely what the #YIMBYΒ movement is trying to address. Zoning reform and similar things can go a long way towards that.
Itβs especially fucked when you consider the average age of a homebuyer in the US is in their late 40s. The etymology of mortgage aka βmort gaigeβ meaning "dead pledgeβ living up to its name.
LOL. Fkn Boomers
This will actually make housing more unaffordable because lower payments will raise prices in desirable markets.
