DNHour

"Imagine if when people purchased houses they were not allowed to have mortgages. Sit back and just ponder that for a minute before reading the rest of the article…. Now that you have thought about it, I will walk you through what would happen in a world that did not have mortgages. The result would be that 95% of the people that currently own a house would not able to purchase that house in our current world. Those people that need houses, truly need them would not be able to own them. Who would own them then in this alternate reality? The answer is the same people. Are you confused yet? The market would adapt, the cost of a home would be less. Perhaps houses would be made cheaper as well. The law of supply and demand is the equilibrium of this world that sets prices..."