> Well, there's this crazy concept called "saving money" where you don't borrow from a bank but rather put some money aside every month to be able to afford som

> Well, there's this crazy concept called "saving money" where you don't borrow from a bank but rather put some money aside every month to be able to afford something expensive That's great, except that everyone is born short housing. You're not trying to afford something expensive, you are trying to cover your short position. And you're either going to do it by buying or renting. And since renting is just throwing the money at someone else, it can make a lot of sense to get into a mortgage instead. (This is why rent vs buy calculators exist.) > I wonder what would happen to property prices if lending was severely restricted, maybe then the value would actually be affordable and not a lifelong debt that becomes unserviceable in the first hiccup Agree on this point. It's a lot like universities and student loans. They have the numbers; they know the average student can afford $x / semester. They also know the average student can take out $y / semester in loans. So what are they going to charge? $(x + y)! Increasing the accessibility of student loans just gives the universities a reason to increase the prices. They don't care how much debt students walk out with; they already got theirs.