Most people will never live long enough to pay off a 50 year mortgage let alone have their children receive an inheritance. I remember my parents paying off their house and they had a little party. I still own that house and proud I paid off my own!

Americans will ever be able to afford a home again.

Really?

lower monthly payments that you never stop paying. And then you die and they take it from your kids, who can't afford it.

So you could pay it off by 65.

What a stupid idea. The compound interest alone would be unbelievable. Even 30 years is a bit long, but manageable, if you pay a little extra whenever you have the opportunity. The number of potential foreclosures from this should be a warning.

In addition, given the horrible build quality of most newer homes, especially in states like Florida and Texas, they'll be falling apart way before the house is paid off.

The crap they built in the '80s needed much refurbishing after a few years. Particle board flooring with about 10 nails per room that swelled up the first time water hit it, very little insulation, no padding under the carpet, watered down paint, all to save $100 when building a $150,000 house. This was also a time when furnaces stopped using pilots and started using electronic ignitions. The heat exchangers were so thin they rusted through after a few years because pilot flames normally kept the area dry in damp Michigan basements. They did sort of invent the second floor laundry and are back building here again.

Prices went up by double digits, because people could suddenly qualify for significantly more debt.

So much for “affordability “

On a 300,000 loan
30 years you would pay roughly 360,000 in interest
On 50 years, you would pay back about 680,000

For nearly 40 years of the 50 year loan, you will be paying more in interest than in principle. You would have to be nuts.

as the economy swings up and down along with real estate values and mortgages going upside-down. Perfect for the vultures.

No landlord to call when your roof leaks.

Oh boy.

Rarely knew anyone with a paid-for house.

Most people buy and sell to move up every decade or so.

So if you're making let's say... 2-3% a year in appreciation... and you flip houses every 10-15 years, the lower monthly payment is smart.

Don't forget, there's no rule you MUST get a 30 year mortgage today... shorter terms are available and/or you can pay more.

The "ownership society" in smithereens.

You’re still building equity, not handing over rent forever. The bank isn’t a feudal lord — it’s providing credit so people can actually buy homes.

And that lower monthly payment? That’s not wasted money — that’s capital you can invest elsewhere, maybe at a higher return than the mortgage interest. Perhaps to help fund your small business. That’s called leverage, and it’s one of the oldest wealth-building tools out there.