How about the fact home prices are inflated to the point where you must take out a loan?
The ubiquity of the mortgage seems like it's more an enabler of corporatized property buying by turning homes into a financial vehicle.
You can blame zoning all you want, but really all zoning is is trying to ensure you don't end up with something massively disruptive to the surrounding area popping up without getting due attention paid to it. Furthermore, the big push for "high density housing" doesn't do squat to make ownable housing more accessible.
Face it. It's the incestuous relationship with the financial sector. Cut that, and you're at least not continuing to do the same thing over and over again, but expecting a different result.
The loan/mortgage is a trap if you ask me (I actually agree with you both).
The real question I've been asking myself lately is "why do you need to take out a mortgage to buy a house if you (after x years of saving) can buy it cash". There is a big problem or lack of generational help. Like it should be trivial, just live with family/parents till you've saved up to buy your own, or we should be promoting and encouraging the transfer of housing to children from parents.
E.g. Get rid of inheritance tax and maybe even make it illegal for estates to sell property to pay off debts if there are children that it could be given to.
> illegal for estates to sell property to pay off debts
that would be bad for lenders - because it incentivizes holding the debt till you die, then get it cleared for free. No lender will lend to you if that's gonna happen.
The ubiquity of the mortgage seems like it's more an enabler of corporatized property buying by turning homes into a financial vehicle.
You can blame zoning all you want, but really all zoning is is trying to ensure you don't end up with something massively disruptive to the surrounding area popping up without getting due attention paid to it. Furthermore, the big push for "high density housing" doesn't do squat to make ownable housing more accessible.
Face it. It's the incestuous relationship with the financial sector. Cut that, and you're at least not continuing to do the same thing over and over again, but expecting a different result.