30 year mortgages plus the 1/3rd of salary mortgage approval heuristic means that desirable real estate costs 10 years of salary. If we had 10 year maximum mor

30 year mortgages plus the 1/3rd of salary mortgage approval heuristic means that desirable real estate costs 10 years of salary. If we had 10 year maximum mortgages, real estate would cost 1/3rd as much, roughly.