Why on earth would anyone want to be in debt for 50 years?! If you get the mortgage at 27, for example, you only finish paying at 77!! Is this the sleight of hand needed to raise the retirement age to 70? 🤔 Shouldn’t the right question be why is a house so expensive that it needs to be paid off over 30 years?! Normalising this is one of the reasons the world became complacent and comfortable with money that dies slowly.
Discussion
Most ppl move every 7 years, it just means they build less equity, and pay more interest. It's pretty stupid, but most Americans are...pretty stupid.
Quite right. My sister has a 40-year mortgage on a one-bed flat in London. Only way she could afford to buy. Retirement age is already 68 for us.
My word! It’s clearly a system designed to keep the bankers as owners and everyone else a renter from them. Assuming she doesn’t get a windfall somewhere along the line, it’s definitely going to be paid when she’s in her 60s. I hope she has some btc stashed somewhere,