There is definitely an uptick in the speed of general development now and the near future. The technological singularity is coming (unless aliens have a different opinion 😉)
Discussion
When houses can be built quickly and for cheap, we're all fucked as property owners. And when quantum computers crack encryption we're all fucked as bitcoin holders.
Everything is a risk. The 50 year mortgage gives a chance to people who would like to take that risk but could not otherwise.
Obviously, a sound monetary system and plentiful high paying jobs would be preferable, but barring this... what could be done?
From this perspective, it definitely makes sense. It is a shame that so many housing developments are going up next to each other though.
Here in Maryland all the new houses/condos look identical and they’re ridiculously expensive.
Honestly, even if I could afford a $750k house, I wouldn’t want to see into my neighbors’ living rooms.
That’s just me, being frustrated at the same-ness of architecture these days.
I bet by 2075 society in general will be a lot different.
the concept of a mortgage will look nothing like what we’ve got now and this whole 50-year mortgage idea will be a moot point.