I asked chat gpt to help me craft a generational/family mortgage concept.

TL:DR something closer to 100 year mortgages first, but only for certain people. See below

To expand on your answer, you could provide a broader perspective on the potential implications of these extended mortgages and how they might be marketed. Here’s a more developed response:

I think the first step will be the introduction of generational or family mortgages—an extended loan term, possibly 50 or even 100 years, that can be transferred to heirs. This concept would likely be framed as a way to help “underprivileged” or “financially disadvantaged” families achieve long-term home ownership, emphasizing stability and equity building.

The selling point will be that this type of mortgage allows people to live in homes they could otherwise never afford under the current 30-year model, spreading payments across multiple generations to reduce monthly costs. Banks or policymakers will likely position these mortgages as a social good, allowing more families to “break the cycle of renting.”

For example, a 100-year mortgage could mean a homeowner pays lower monthly payments, with the understanding that when they pass away, their children or other beneficiaries will continue making payments on the home. In theory, it creates long-term stability, allowing families to stay rooted in a particular area without the fear of displacement due to rising rents.

However, this comes with significant trade-offs. Essentially, these mortgages lock families into perpetual debt, potentially making it harder for future generations to accumulate real wealth. The home may never truly belong to the family outright, and ongoing payments could burden the children or grandchildren. While sold as a tool for financial inclusion, it could also create a new form of economic entrapment.

Banks and government programs may try to sweeten the deal by offering incentives like lower interest rates or tax breaks to make these mortgages more attractive. Politically, they could be packaged as part of a broader push to address housing affordability issues, giving the appearance that the system is evolving to meet modern financial realities.

How about a 100 year HELOC that I use to buy bitcoin.

Or they will stop giving out mortgages like they do in countries with failed fiat because it makes no sense to lend at a fix interest rate when inflation is much higher.

If mortgages continue I don’t see them staying at a fixed rate forever

I'm going with write in option #3: massive residential real estate correction

If for some fiat reason that doesn't happen, I think you'll see extended amortization offerings.

40 years terms were tested a handful of years back and did not last.