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“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”
― Mark Twain
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This week the Federal Housing Administration gave the OK to 40-year mortgages. It's a move designed to try and make it easier for first-time home buyers.
Infinite debt and spending. 40-year mortgages to replace the 30-year? The dollars that denominate the transaction won't exist at the end of the decade, so does it really matter? Banks will own a lot of real estate if they don't go under first. People making the payments won't survive the next Depression.
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The Matrix provides market-driven trend, cycles, and intermarket analysis.
