Even if, hypothetically, 65% of people owned their homes outright, that’s still over a third of the population who can’t even consider getting a loan like you described.
And for those that COULD, they’re betting their entire life on it. People with money can afford to take risks. It’s not an even playing field, at all.
You know the great majority of people don’t have any such collateral, right? Holy privilege, dude
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Own outright? Or have a mortgage?
Even if, hypothetically, 65% of people owned their homes outright, that’s still over a third of the population who can’t even consider getting a loan like you described.
And for those that COULD, they’re betting their entire life on it. People with money can afford to take risks. It’s not an even playing field, at all.