A completely new status quo for mortgage financing — especially one more favorable toward first-time homebuyers — was cited by real estate leaders as a vital step in improving housing affordability. 

For NextHome co-CEO Keith Robinson, affordability can’t be solved without addressing the mortgage system itself — one he says hasn’t fundamentally changed since the Great Depression.

“We’re using a 30-year fixed financial structure, and that was first installed in 1933 as part of the New Deal,” he told HousingWire.

Robsinson noted that home prices have skyrocketed while wages and financing options remain stuck in another era.

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