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People not able to scrape together enough for a down payment on a house aren't magically going to be able to afford one if landlords need to sell their properti
by moftz 5y ago
People not able to scrape together enough for a down payment on a house aren't magically going to be able to afford one if landlords need to sell their properties. A decrease in market value of rental properties due to major increase in sales is just going to invite private equity firms that will come in and snatch them up from the smaller landlords that cannot afford to continue. A better system to increase homeownership would be to reduce the need for down payments. Plenty of people can afford a mortgage and the other costs of homeownership but simply cannot save up the initial investment. The government already offers student loans for tens of thousands of dollars with no collateral or down payment, why not do the same for mortgages? Obviously its a little different than college degree, you can't sell your degree to pay off the loan but I could see a future where some sort of federal mortgage program can exist.
- nielsbot 5y agoThank you for a reasonable response to a very hypothetical question.