Historic landmarking: measurable, devastating cost with zero tangible benefit. Ranks up there with zoning + government-backed student loans and mortgages as the worst well-intentioned ideas of all time.https://twitter.com/robbysoave/status/1162459914226294786 …
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Fha and USDA loans do just fine. Trust me, I know how they are underwritten.
It’s not about the loans defaulting; it’s about creating an economy where the housing market has to appreciate uninterrupted in order to prevent catastrophe.
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agreed. But that's a separate topic than mortgages. Actually the mortgage system in this country is very stable, very regulated and can't be too crazed on the owner occupied side. what I worry about is the stuff that is non-QM, qualified mortgage. It's the wild wild west.
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And when things start falling these properties will start falling very fast.
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