I can think of two reasons but I doubt this is exhaustive…
Most people don’t have enough capital to make the down payment. When one person has no savings, they’re irresponsible. When most people have no savings, it’s poorly designed policy.
In addition, the option of being able to rent out a house increases its value, which makes mortgages more expensive than they otherwise would be (with no rents).
I can think of two reasons but I doubt this is exhaustive…
Most people don’t have enough capital to make the down payment. When one person has no savings, they’re irresponsible. When most people have no savings, it’s poorly designed policy.
In addition, the option of being able to rent out a house increases its value, which makes mortgages more expensive than they otherwise would be (with no rents).