If mortgages didn't exist...

[FormLetter]

Originally Posted by Pseudolus

If I had a boat, I'd go out on the ocean. And if I had a pony I'd ride him on my boat. And we could all together go out on the ocean, me upon my pony on my boat.

And that boat is sailing inside the bladder of the giant turtle that I want.

[Pseudolus]

Is there still a mortgage interest deduction? This is very important to my answer.

[Dr T Non-Fan]

Originally Posted by FormLetter

The theoretical aspect of the question kind of melts away into a pile of buttery sadness the way DTNF handles it. I think he's right, but I want to fantasize here for a minute...

So say there were no mortgages and there wouldn't be mortgages developed at all. In that case more people would probably be renters. Saving to become an owner of a house would be done a lot more. Oh, and I think this is the biggest thing - the housing stock would be entirely different. Smaller houses would be more common.

That's too much fantasizing. It requires no one in the whole world realizing a simple investment possibility.

And, of course I'm right.

[George Frankly]

Originally Posted by JohnLocke

Cardboard box, but I'd have an underground swimming pool and drive an SUV

An under-ground pool? Is that the same thing as in-ground, or are you saying the whole thing is enclosed under the earth. If the latter, I want to party with you. One, that's baller beyond belief. Two, my skin tone is translucent, so I could do without the UV.

[Incredible Hulctuary]

Originally Posted by Dr T Non-Fan

Pretty much.
I could borrow money from a rich relative, promising I could pay him back or else he gets to own my house. He then might ask for 20% of the value of the house upfront, to protect him a bit from the value dropping.

The vast majority of people won't have a rich friend or relative who's willing to lend that kind of money. And the same law that banned mortgages would probably ban those types of private lending arrangements anyway (even though you could borrow without the government's knowledge, you're a lot less likely to find a willing lender without the government to enforce it).

[George Frankly]

Originally Posted by Pseudolus

If I had a boat, I'd go out on the ocean. And if I had a pony I'd ride him on my boat. And we could all together go out on the ocean, me upon my pony on my boat.

Kiss my ass, I bought a boat.

[Pseudolus]

^ reported.

[Dr T Non-Fan]

Originally Posted by tude

Welcome to my list.

[tude]

Originally Posted by Dr T Non-Fan

Welcome to my list.

You're welcomed.

[Dr T Non-Fan]

Originally Posted by Incredible Hulctuary

The vast majority of people won't have a rich friend or relative who's willing to lend that kind of money. And the same law that banned mortgages would probably ban those types of private lending arrangements anyway (even though you could borrow without the government's knowledge, you're a lot less likely to find a willing lender without the government to enforce it).

No one said anything about a law.
Assumption in the OP is that they don't exist.

No one ask about the vast majority of people.
OP asked where I would live.