Would a vassal own the land after 50 years?
And besides, in the coming neo-feudalism pure capital is more likely to serve the role that land served in feudalism classic.
Your blonde is showing!
500k house bought in 1975 is worth between 4.4 and 8.4 million today. The 50 year mortgage gets thousands out of Potter’s rental property and sets them on a course for home ownership and wealth accumulation.
Before we see the full policy on the 50 year mortgage:
Francisco Franco ran an incredibly successful housing reform program that incorporated these instruments. It had to be done tactically and in tandem with new builds, but it worked.
Let’s see how they decide to roll this out first.
We will have Feudalism squared.
Property feudalism like you mention
And techno-feudalism. where the capital owners own AI, robots and big tech systems that generate all the profits and control every industry and country.
No, feudalusm was much much better.
A feudal serf had dramatically more control and real possession of property than we do today. Even if he didn't technically "own" it.
50-year mortgages enables a significantly larger pool of borrowers to qualify for higher loan amounts, thereby increasing market demand, driving up home prices and ultimately offsets the intended affordability benefits, independent of the substantial feudal interest costs involved. Lengthening mortgage terms has already been ONE primary factor in home prices exceeding the rate of inflation.
All my life I have taken the longest loan period possible with lower payments so I could double up on payments. I have paid off a dozen loans over the years MUCH earlier by having a longer loan period. I think it's a solid strategy.
Bad take. 1) This lowers the cost of entry into home ownership. 2) You can accelerate pay down like any other loan. 3) Most people move in 5-10 years and can build equity in the meantime. 4) You can refinance if your income goes up.
That’s okay.
The lights will go out soon and all those electronic databases will disappear in the blink of an eye because nobody has paper records anymore.