[mrec]

Mortgages per se aren't the problem; low rates and high LTV are the problem.

I agree that changing this is politically difficult, and it's downright depressing to see discussion threads on the topic filled wall-to-wall with turkeys demanding more Christmas, but there are limits to how far credit bubbles can take you, and there are signs we may finally be getting there.

Big mortgages would rapidly become a lot less popular if prices weren't a one-way bet guaranteed by the government.

[mendelsd]

Sorry to post this link at you again, but the problem is a high ratio of financial credit to productive credit: https://youtu.be/N-FDdHj7rPk

Low rates, high LTV, and government guarantees all help to keep that ratio high.