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Treasury Selloff Is Insult To Injury For US Housing Crisis
Remember when Scott Bessent was going to reduce financing costs for everyday, middle-income American
conditions will require un-natural gymnastics eventually – for example: a fast growing area in my state was provided additional state lands to expand (city grew too fast because its climate is nigh perfect – $ came fast) – but as a condition of that ‘state gift’ the city had to allocate ~10% of the developing land for affordable ‘worker houses’, i.e., teachers, fire fighters, nurses, etc … an unnatural act, but necessary. Gladly, the city and state and moxie to make it work … how often will that happen?
without those types of unnatural gymnastics, things could continue to go way wrong.
When I lived in Switzerland, it was not uncommon to meet people with 50- or 100-year mortgages.
Everyone knows amortizing over a longer period lowers the monthly payment and increases “affordability” or at least your ability to service a huge chunk of debt at high rates. It happened with car loans so why isn’t it happening with housing?