The loan itself is based on current value, not unrealized gains. Also, homes are usually people’s biggest asset. The equity growth is separate than the loan itself.A mortgage is "a loan on unrealized gains."
So you're saying people shouldn't be able to buy houses with less than the full purchase price...
That reveals your basic emotion for all to see. Why should anyone with something of value that they own or have earned not be able to borrow against it? What kind of petty jealousy is it that only wants some people to be able to do so?
Oh yeah, it's someone who doesn't want to take risks themselves. It's someone that doesn't want to earn value, but instead be given value, that doesn't want anyone to else to be able to risk something and be rewarded.
Are you a communist?
I’m not a communist because I don’t want to redistribute wealth. I just want the wealth returned to the rightful owners which is the middle class.