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the 30 year mortgage was one of the greatest financial innovations of our time. Allowing anyone to pay off 2022 costs in 2052 dollars. I understanding hating cr
by mtoner23 4y ago
the 30 year mortgage was one of the greatest financial innovations of our time. Allowing anyone to pay off 2022 costs in 2052 dollars. I understanding hating credit card debt, buy now pay later, and other horrible "financial engineering" but the 30 year mortgage is overall a great thing for everyday people.
- jdashg 4y agoIf everyone gets the benefit, does anyone really get the benefit? In a zero-sum game of prospective home owners bidding against eachother, if both of two opponents the option of longer mortgages, does affordability actually increase? The sticker price just gets bigger.