The History Of Home Mortgage Lending and Today's Current Market

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Educational Forum with Jack Boyle, a 35-year
veteran of the home mortgage lending industry
to discuss today’s housing crisis.
A younger generation is beginning to ask the
question, “Will I ever be able to buy a home?”
High mortgage rates, inflationary costs, and fewer
available affordable homes on the market are just
some of the reasons why for many the American dream is slipping away. Two years ago, the
average cost of a house in this country was $215,000. Today, it's $400,000 and the interest
rates have gone from 3% to 7.5%. This is truly a battle between George Bailey’s Building &
Loan and today’s Potter – the global investment firms that are buying up all the affordable
housing and keeping it away from the everyday citizen, forcing many into high rent situations
that the investment firms own and control. As RFK Jr. said in a recent interview, it’s the
difference between being a citizen or a subject. George Bailey’s father told him in the movie
It’s a Wonderful Life, “It’s deep in the human race to have a roof over your head, the desire to
own your own home, a place to call your own.”
In this educational forum, Jack will take us through the history of home mortgage
lending, back to the turn of the 20th Century to the present, including the history of FHA, VA,
Freddie Mac, and Fannie Mae. Jack will take us through the savings and loan era, subprime
lending, and the housing crash of 2008 to today’s market. Jack has a wealth of experience
that he is willing to share with us. The housing crisis in Ohio is so acute that the Ohio
legislature last year launched a select committee on housing. Builders and bankers, along
with other interested parties, testified before the committee on the various problems that
Ohio is facing with its housing crisis. The legislature has drafted legislation to deal with some
of these problems, including reforming property taxes, penalizing corporate entities that are
buying hundreds of homes, and legislation that incentivizes banks and builders to build and
finance more affordable housing for Ohio residents and encouraging communities to open
up zoning for single-family affordable housing. Join us for this informative evening.

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