The 30-Year Mortgage is an Intrinsically Toxic Product

The crash didn’t pop the bubble

Finance Mortgage Economics The 30-Year Mortgage is an Intrinsically Toxic Product Byrne Hobart 29 min read · Dec 26, 2018 -- 25 Listen Share Attention conservation notice. This jeremiad is all about financial policy, which I know is not a topic all of my readers are interested in. This piece is only relevant to you if you own a home in the US (because mortgage rates matter) if you rent in the US (because market rents are set in comparison to the cost of owning), or if you save and/or borrow money anywhere in the world (because of the US mortgage system’s effect on long-term interest rates. Rea

related reading

• Financing the American Home - by Marc Rubinsteinnetinterest.co
• Fed’s Powell says some areas of U.S. may be ‘uninsurable’ in next decadebankingjournal.aba.com
• The LT3000 Blog: Demystifying post-GFC economics; the problem with scarcity; interest rates; long political cycles; and the end of historylt3000.blogspot.com
• Khủng hoảng cho vay thế chấp dưới chuẩn (Subprime mortgage crisis) là gì?vietnambiz.vn
• Wall Street isn’t to blame for the chaotic housing marketvox.com
• Booking.com gives €28m in bonuses to three top execs; Took €65m in State aidnews.ycombinator.com
• October 2022 Newsletter: Energy vs Sovereign Bond Marketslynalden.com
• Why I went into the mortgage industry · Erik Bernhardssonerikbern.com
• Andrew Ross Sorkin on Market Bubbles, Banking Rules, and the Real Lessons of 1929 (Ep. 269) | Conversations with Tylerconversationswithtyler.com
• A Premium Crisis: Climate Change Threatens Homeowner’s Insurance, Housing, and Financial Stability – Levy Economics Institute of Bard Collegelevyinstitute.org
• A closer look at the issuance structure of Treasury securitiesfallacyalarm.com
• Structural rise in real interest rates: Treasury premium erosion and asset allocation implications | State Streetstatestreet.com