Aurelius on Nostr: That puts every “homeowner” on the hook for 5% mortgage interest for the next 30 ...

That puts every “homeowner” on the hook for 5% mortgage interest for the next 30 years. It shifts an immense amount of wealth from the masses into the financial and real estate sectors. It isn’t that the government wants homeownership. The financial industry pushes the government to incentivize purchases to secure “their” interest, rents, and an ever-inflated asset class that promises greater rents in the future. The financial and real estate sectors are also the ones pushing to lower taxes on real estate, which makes more income available for mortgage interest at the expense of social programs depending on that tax basis.