Sure it propelled the economy with booms, and busts for 80 years with no way to blow another bubble propelling the economy without removing the down payment requirements. It's no different than any other Ponzi Scheme. First there were ten year loans, 15, 20, 30, Oh, and we've had 40 but that did seem to be ridiculous so then down strokes requirements were lifted. Changing the norm from 15 year mortgage to a Thirty was the original sin no different than lowering down stroke requirements. This has been enslaving the middle class generation by generation with heavier chains for generations now. Thanks for pointing that out!
My original point was that if the Gooberment Guarantee was removed then the market would regulate without blowing giant bubbles. Problem is we're already living in a big bubble so need to fill it with something other than air first. Good luck Trump!
The economy should not be based on artificially inflated assets values like Real Estate in the first place. It should be base on production. The buildings, yes! Over inflated land vallue? Hell no!
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