Buyer: I’d like to buy a house Bank: Sure. Crazy idea tho, what if your house was also an *investment*? You can prepare for when you’re too old to contribute to GDP Buyer: Uh Bank: Great! By the way, since we started your whole house as investment idea, the price has gone up 500%
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A new deal era regulation stipulated that every private mortgage lender had to live within a (I believe) 10 mile radius of whoever they gave a loan to. They had an actual interest in making sure the person was able to stay in their house and that it didn’t become a blight
Locally-enforced restrictions on banking? That sounds like some folx might be deprived of their civil rights Sean. Populism has never been good at upholding individual rights.
