Are you really pretending that banks are fronting the risk on home loans? What happened the last time banks took a hit on home loans? Again, government socialized the risk.
No, I'm not pretending anything. I'm literally just trying to hear you out and I'm asking you questions that I'm genuinely interested in hearing your answers. I think the problem is you have incorrectly assumed I'm acting in bad faith.
I did answer you an answer. Again. Banks have zero risk giving out home loans, pretending otherwise is a complete rejection of recent history and how government has worked over the past 60 years. In fact, banks, under the law, made more money forcing fraudulent foreclosures than maintaining loans because the government immediately gives banks the “lost” revenue in deductions while the banks actually profited from previous payments on pure interest plus liquidation of the mortgaged homes.
Okay then my apologies but maybe I am missing your answer. My question: what is your proposal for people who don't have cash on hand equal to the full value of the listed price?
We already have that system in place. The only thing I would change is either remove the banks ability to profit on home loans (since they’re not taking risk, the government is) or remove government protections of bank loans (healthier option overall, but good luck, banks won’t give up their golden egg). What we have now is socialist corporatism which is worse than either alternative.
Are you really pretending that banks are fronting the risk on home loans? What happened the last time banks took a hit on home loans? Again, government socialized the risk.
No, I'm not pretending anything. I'm literally just trying to hear you out and I'm asking you questions that I'm genuinely interested in hearing your answers. I think the problem is you have incorrectly assumed I'm acting in bad faith.
Would you mind answering my questions, please?
I did answer you an answer. Again. Banks have zero risk giving out home loans, pretending otherwise is a complete rejection of recent history and how government has worked over the past 60 years. In fact, banks, under the law, made more money forcing fraudulent foreclosures than maintaining loans because the government immediately gives banks the “lost” revenue in deductions while the banks actually profited from previous payments on pure interest plus liquidation of the mortgaged homes.
Okay then my apologies but maybe I am missing your answer. My question: what is your proposal for people who don't have cash on hand equal to the full value of the listed price?
What exactly is your answer?
We already have that system in place. The only thing I would change is either remove the banks ability to profit on home loans (since they’re not taking risk, the government is) or remove government protections of bank loans (healthier option overall, but good luck, banks won’t give up their golden egg). What we have now is socialist corporatism which is worse than either alternative.