crazy idea. it will cause hyperinflation and fed will have to increase interest rates and older retirees will have even harder time making interest payments. suck every penny out of working class with more debt? modern day slavery in making.. a recipe for worst disaster than 2008 unless allowed to issue reverse mortgages.
most mortgages are below 3%, so why would your borrow at a rate higher than 7%?
just to get votes for the upcoming election and then we go into great depression? looks like it.
a solution: stop blackstone and other hedge funds from owning homes in every neighborhood and turning them around for rental at exponential prices. we know that 16 yr conservatorship with $1500 down to $0.40 is due to bank lobby that feed the fellow travelers.
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