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I probably agree with most of this, and definitely with your thoughtful last sentence, but the context is that the existence of mortgages has driven up house pr
by robertlagrant 2y ago
I probably agree with most of this, and definitely with your thoughtful last sentence, but the context is that the existence of mortgages has driven up house prices. I think this is a silly claim, because while almost no one being able to buy a house would lower house prices, it would do so in a net negative one.
- have_faith 2y agoIt sounds like there's two separate dimensions to this, price, and positive / negative outcome. It seems like it's possible for a banks mortgage lending practices to both positively increase access to mortgages while at the same time making houses more expensive. At first I think this is counter intuitive, but I think there's a logic to it. Whether this is a good tradeoff, is separate to whether the loaning itself increases house prices.