Forum Post: 3% Mortgage
Posted 12 years ago on Sept. 17, 2011, 7:51 p.m. EST by hongwong
(0)
This content is user submitted and not an official statement
- Allow me to borrow from FMAE at 3%
- 1% go to US Governemnt - better than banker making the money
- 1% go to FMAE for administrative fee and salary
- 1% go to the bank- limit the bank just do banking
- suggest bank to fire whoever make more than 200,000, they have enough skill to start their own business
therefore **goverment and me both have more money to spend will this make the economy better**
Why don't we just get rid of mortgages, and sell housing at prices where anyone can truly afford a house? Right now, most people take 30 years to pay off a place to live their life...without mortgages, it may take 5 years of saving to buy a house. This would kill housing prices in many markets immediately (mostly on the coasts) but would make things better long term. No?
[Removed]