Been saying this 3% inflation over 50 year... Try 7-10% real inflation... It's a no brainer.
Discussion
Why not 1000 year mortgage then numb nuts
Will it lower your payment?
I'll explain it in as nice and simple terms as I can.
Longer mortgage terms affect the price of housing. People will still be willing to pay the same monthly, the average person doesn't give a shit about 30 versus 50 because they aren't even thinking about paying it off. The average mortgage loan lasts 7 years before sale or refinancing.
Long mortgages becoming standard reinforces a world where your value produced doesn't determine what you can afford, but the level you are willing to be indebted does.
You are heading towards a world where you cannot own anything real without permission from the bank, who is getting filthy rich by trapping you in debt contracts which are based on fake money and usury.
If mortgages were 1000 years long, houses would be 500 million dollars each and you'd need to show a bank your asshole in order to own one.
Maybe you can on paper outperform by doing this (95% won't) but it is incredibly destructive to the real world.
Great. You do you.