> This kind of low interest easy to get loan exists for no other type of asset, and is unique to housing, and is in large part a product of macroeconomic state

> This kind of low interest easy to get loan exists for no other type of asset, and is unique to housing, and is in large part a product of macroeconomic state policy. These types of loans are backed in many countries by government insurance. So they are in effect a kind of macroeconomic planning by the state. Not quite unique: this kind of loan is available for college tuition too! Perhaps unsurprisingly, that’s another disaster zone...