Those mortgages are still subsidized though. A 5-yr term before it adjusts, with upward protections on rate increases is still not what a "free market" would pr

Those mortgages are still subsidized though. A 5-yr term before it adjusts, with upward protections on rate increases is still not what a "free market" would provide. These are government sponsored (in some way) programs to increse demand for homeownership without a corresponding investment in increasing supply. Housing being used as a bet on appreciation, which fuels buying, which causes appreciation is best solved by building more housing. The way to make housing cheaper (or not be a speculation vehicle) is to build more housing. Full stop.