GhostOnTheHalfShell on Nostr: Nationalizing mortgages doesn’t do so much, I think. Banks *sell* the loans they ...

Nationalizing mortgages doesn’t do so much, I think. Banks *sell* the loans they make off to the secondary market. They are packaged up into securities and peddled off to insurance, hedge and pension funds. The mortgage has spent itself on an existing product, a cookie cutter house.

Financing needs to fund new construction, community urban needs and greening. That direction will spawn an different kind of cosntruction sector.