> The reality is that most working class people do not invest their money To the extent that this is true, it's not a good reason to subsidize mortgages. It wo

> The reality is that most working class people do not invest their money To the extent that this is true, it's not a good reason to subsidize mortgages. It would be much better policy to encourage people to invest in diversified and productive ways, rather than leverage themselves to the hilt and sacrifice their mobility for a risky bet on endless property appreciation in their local neighborhood. > But I see now that things must be really different in the US Well yes, the whole article is about the problems of the subsidized 30-year fixed mortgage. Europe doesn't subsidize 30-year fixed mortgages in the same way, so things are clearly quite different.