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You can get an interest only mortgage in the US. Removes the illusion of paying it off. Functional, it would be very very close to a 100 year mortgage (few less

You can get an interest only mortgage in the US. Removes the illusion of paying it off. Functional, it would be very very close to a 100 year mortgage (few less dollars per month that goes to principle).. Remember though, for a big part of the US, paying off your mortgage is the most important / biggest form of retirement savings. Many people make it their goal to pay off their mortgage before they retire, even if their 401k is dry. With social security and modest lifestyle, it's not a terrible decision. You can even reverse mortgage if the well runs dry a few years early..

alkonaut 5y ago
Yes, they used to be interest only here before, the 1% (or 2% for the first part) was added in response to risks. So basically the 1% is just that, retirement savings. Because at the end of the day it doesn't really matter whether it's 1/30 of a 30yr mortgage or 1/100 of a 100yr mortgage, that amount will be exactly what the buyer can afford. So after 30 years I'll have a home with around 1/2 a mortgage remaining. And saving a massive slump in prices, that will be a big part of my retirement savings. Having a completely paid off 30yr mortgage would be even better of course, but not hugely so. The amount left as "savings" is still the same. The longer mortgage just holds a larger risk/reward of passive income vs loss.