Re:The 30-Year Mortgage Is an Intrinsically Toxic Product (2...
by modeless on Saturday July 22, 2023 @04:35AM
(#36824518)
> The reality is that most working class people do not invest their money
To the extent that this is true, it's not a good reason to subsidize mortgages. It would be much better policy to encourage people to invest in diversified and productive ways, rather than leverage themselves to the hilt and sacrifice their mobility for a risky bet on endless property appreciation in their local neighborhood.
To the extent that this is true, it's not a good reason to subsidize mortgages. It would be much better policy to encourage people to invest in diversified and productive ways, rather than leverage themselves to the hilt and sacrifice their mobility for a risky bet on endless property appreciation in their local neighborhood.