Replying to Avatar Mallory

The 30 year mortgage makes sense in a specific practical use case. You buy a starter home, then use the equity from that property to transition to a larger family home, once empty nesters you transition back to a smaller home and use the equity you built over the years to help fund your retirement or have a home you own in it’s entirety. This assumes that you had a fixed rate mortgage and property values continued to rise over the years.

Pushing one size fits all financial advice is problematic. As is assuming that everyone wants the same life.

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Jac 2y ago

I think the practical necessity of the 30 year mortgage is exactly that: pushing one size fits all financial instruments. Everyone needs housing.

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