When FDR rolled out the 30yr, I bet there was also this sort of PeaBrained outrage...just didn't have X. If a Bank offers me a Killer rate on a 50yr...I would be Borderline TARD not to take it. Get in...build equity...refi or sell...you have another mortgage choice.
The 30-year mortgage has basically turned America from a nation of homeowners to a nation of renters.
It's massively inflated the cost of homes and now boomers are using them as a store of value instead of just housing.
You are a smooth brain and also a boomer.
It’s better than nothing. Need to build more housing and deport 100m on top of that. Personally wouldn’t mind a 50 year mortgage at 2021 interest rates.