“But when those families get booted out onto the street they don’t get their down payments back. They don’t get all the mortgage payments that they have made back. The banks get to keep all of the money and all of the houses.”
I hate it when that happens. It’s like paying rent. That’s why I don’t owe anything on either of my two homes.
“When you base an entire economy on debt...” I like to think of it as debt based wealth. There is something unreal about it right up until the moment reality sets in.
“Fishing License Taxes ...Hunting License Taxes...” I look at these as good investments. It’s a small price to pay for good, fresh catfish and elk in my freezer.
Scouts Out! Cavalry Ho!
Folks who don't want to take on debt can still do that - they won't have to worry about getting their down payment back... but they won't be living in their home for decades...