Quote:
Originally Posted by Isaac Zachary
I don't know how much changing mortgage requirements would help though since it seems the great majority of people buying property and houses around here, or who come up to rent, have very deep pockets. Lots of houses are being bought up by second home owners and by people wanting to get as many houses they can get to rent them for top dollar.
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Changing loan terms will not fix housing affordability. The 30 year fixed mortgage is pretty much a US specific but affordability is not a confined to the USA.
Reducing loan terms just means that fewer people can afford to own a home and you have a much higher percentage of renters.