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On the flip side, what do you think would happen to home ownership if the mortgage terms were set to be 1 year max? That ought to really lower the home prices,
by sangnoir 5y ago
On the flip side, what do you think would happen to home ownership if the mortgage terms were set to be 1 year max? That ought to really lower the home prices, right?
My guess is most homes on the market would be bought by private equity firms and retirement funds. There are a lot of confounding factors; just changing mortgage terms is not sufficient.
- vkou 5y agoBuilding a modern home requires more than 1-person-year of resources and effort, so a 1 year mortgage term wouldn't make any sense. You can't make something out of nothing, so obviously, there would be a pricing problem in that situation.