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A comment on Today I asked a bank for a conventional mortgage and they said no. Parent comment

Re:Today I asked a bank for a conventional mortgage and they... by rsynnott on Tuesday April 12, 2022 @05:06AM (#31000238)
> What happened to saving for something, and then when you have the needed money, buying it out of pocket?

For buying houses? There was never an era where that was a particularly normal thing to do; in most countries home ownership becoming common came about as a result of mortgages.

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Re:Today I asked a bank for a conventional mortgage and they... by dazc on Tuesday April 12, 2022 @05:17AM (#31000321)
If the price of a house was directly related to its actual building cost, and considering how much deposit one needs nowadays, it isn't a bad idea.
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Re:Today I asked a bank for a conventional mortgage and they... by adastra22 on Tuesday April 12, 2022 @05:22AM (#31000351)
Cost of new house construction in the Bay Area is on the order of a million dollars. Still need a mortgage.
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Re:Today I asked a bank for a conventional mortgage and they... by theandrewbailey on Tuesday April 12, 2022 @09:35AM (#31002506)
But before mortgages were common, people had to buy houses 100% upfront if they were to own them.
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