>every mortgage in America is fraud
That is true.
Most Americans who "buy" a house now think it is an "investment" that will magically go up in value.
Is that normal?
Do used goods normally increase in value or decline?
Obviously they decline.
So why do "mortgage Americans" think their house value will go up?
They think they are buying into the rentier class.
Property values will continue to go up… IF real estate becomes scarcer and scarcer.
But that only happens if the population continues to increase.
So basically, mortage Americans are betting on being the lucky few who "did it right"… unlike the dirty masses.
Too bad they didn't plan for Blackrock.