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So you want to collect enough taxes to have the government provide zero interest mortgages. Does that mean everyone gets a mortgage, regardless of creditworthi
by coderzach 11y ago
So you want to collect enough taxes to have the government provide zero interest mortgages. Does that mean everyone gets a mortgage, regardless of creditworthiness? You want me to pay for other people's mortgages, when they won't even give me one?
- BBlarat 11y agoThe parent never mentioned zero interest, why not have a interest just because the loan is granted by the government? Just call it a tax instead of interest.
- rorykoehler 11y agoThat's essentially how buy to let works. As a renter I am paying for someone else's mortgage. If I could get a zero interest (or even normal interest) mortgage guaranteed by the government I wouldn't have to rent and I could retain that value that I have generated for myself. As it stands I work my ass off and make someone else rich in exchange for keeping my chin just above the water line. Housing is a necessity and its profitization is unethical. It amplifies wealth disparities and destroys value in society.
- jsprogrammer 11y agoHow would banks collect profit then?
- rorykoehler 11y agoI didn't rule out being charged a nominal fee for the service. They could also focus on non-essentials? Banks have many products other than mortgages.