I tend to think less housing subsidy (and especially less housing debt subsidy) at the margin would be a good thing, but man would all of these changes be unpopular: https://www.wsj.com/articles/white-house-expected-to-nominate-pence-aide-to-lead-fhfa-1544457677 …
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Calabria might pursue shorter mortgage terms (meaning higher monthly payments) higher payments to guarantee mortgages (meaning higher borrowing costs) and lower conforming mortgage limits (meaning higher borrowing costs in high-cost markets)
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Maybe the 30-year fixed rate mortgage serves an important social purpose, apart from economic arguments before or against it? I'm not sure.
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Replying to @jbarro
Dave Ramsey is right on mortgage duration. If you can't afford the monthly payments on a 15-year mortgage, you can't afford the house.
8:37 AM - 10 Dec 2018
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