[ArkyBeagle]

Home ownership is a bubble created first by VA and then FHA subsidized financing.

Mortgages were sort of unusual - housing was simpler then and people just paid cash. Sears sold home kits - of 12,000 pieces they said could be finished in 90 days by the owner - and while they offered financing, they topped out @ 60K in 2016 dollars. I don't think the financing was a "mortgage" per say, closer to consumer credit. People pay $60k for cars on four and five year notes.