Byrne Hobart spent a lot more time thinking about this than the rest of us: “The thirty-year fixed-rate prepayment-option mortgage is an economic disaster. It encourages mass malinvestment. Policies designed to help low-income people build wealth actually trap them at […]
“For nearly a decade, mayoral candidate Ald. Raymond Lopez has failed to make mortgage payments on a property on the city’s Southwest Side, totaling almost $42,000, according to a lawsuit filed earlier this year.” | learn more
“On American streets, the [30 year mortgage] is everywhere. It makes up around 80% of an $11.3 trillion mortgage market. Yet, with the exception of Denmark, it doesn’t exist anywhere else in the world. Even baseball exists in more countries.” | learn […]