This essay is one of the most readable criticisms of US housing finance and policy I’ve ever seen:https://medium.com/@byrnehobart/the-30-year-mortgage-is-an-intrinsically-toxic-product-200c901746a …
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Replying to @patio11
I’m very sympathetic to the themes of the essay, but found it hard reading. Y’all must understand financialese much better than I do.
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Replying to @venusatuluri
When he drops “the Greeks” (gamma, etc) from options pricing just take it as writ that he’s saying “I’m performatively demonstrating that this transaction is too sophisticated to expect the median consumer to engage in it successfully.”
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