4 ms·
Maybe the fact that someone can get 95% leverage to buy a fixed rate mortgage for _30 years_ is part of the problem. We should bright back 50% down, five year m
by throwaway5959 4y ago
Maybe the fact that someone can get 95% leverage to buy a fixed rate mortgage for _30 years_ is part of the problem. We should bright back 50% down, five year mortgages and cut the rest of the stuff out.
- roflyear 4y agoThen everyone would have to rent.
- throwaway5959 4y agoNot if prices fell. And they’d save a small fortune in interest over the life of the loan.
- roflyear 4y agoA fortune? I'll be paying a little more than $100k over the life of my 30y mortgage. I think that is very fair for the amount I borrowed (3x that...)
- throwaway5959 4y agoWhat was the interest rate?
- speakfreely 4y ago> We should bright back 50% down, five year mortgages and cut the rest of the stuff out. Well, in that case, good luck convincing the majority of the population to adopt a policy that will catastrophically crash their net worth. Government involvement in mortgages is what keeps our society civil at this point.