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Possibly. "A recent innovation in the Japanese real estate industry to promote home ownership is the creation of a 100-year mortgage term. The home, encumbered
by mcguire 5y ago
Possibly.
"A recent innovation in the Japanese real estate industry to promote home ownership is the creation of a 100-year mortgage term. The home, encumbered by the mortgage, becomes an ancestral property and is passed on from grandparent to grandchild in a multigenerational fashion. We analyze the implications of this innovative practice, contrast it with the conventional 30-year mortgage popular in Western nations and explore its unique benefits and limitations within the Japanese economic and cultural framework."
The 100-year Japanese residential mortgage: An examination (1995) (https://www.sciencedirect.com/science/article/abs/pii/1061951895900047#:~:text=A%20recent%20innovation%20in%20the,grandchild%20in%20a%20multigenerational%20fashion https://www.sciencedirect.com/science/article/abs/pii/106195....)
- mc32 5y agoMy understanding is the cost is mostly the land and the building not so much. I think Sweden introduced a law limiting mortgages to ~100 years[1] because property prices were becoming unaffordable to many. So this may be more about "affordability" than longevity of buildings, but time will tell. [1]https://www.thelocal.se/20160324/sweden-limits-mortgage-loans-to-105-years/ https://www.thelocal.se/20160324/sweden-limits-mortgage-loan...