Longer Mortgages Won't Fix Housing When Speculators Run Rampant
The Hill published a piece arguing that 50-year mortgages won't fix housing supply, which, on the surface, feels like a reasonable take. (Of course, pushing generational debt isn't *fixing* anything.) What they meticulously avoid is examining why housing supply is tight or unaffordable. They won’t highlight the financial institutions like BlackRock buying up residential properties, converting
homes into speculative assets, and driving up prices. Why address the actual market manipulation when you can just discuss extending mortgages out to humanity's average lifespan? Instead of critiquing predatory investment practices that snatch homes from prospective buyers, we get thinly veiled attempts to normalize longer-term vassalage for the average American. The Hill, much like other outlets,
prefers to focus on band-aid 'solutions' rather than the corporate greed that actively creates housing scarcity for profit. One might wonder if their advertisers prefer we don't look too closely at who benefits from an ever-inflating housing market.