The lack of equity building for such a long time in a 50 year mortgage would seem to make the potential for being "underwater" (owing more than your home is wor

The lack of equity building for such a long time in a 50 year mortgage would seem to make the potential for being "underwater" (owing more than your home is worth) ... highly likely. A lot of the fixes for that in the pros is "well people will refinance and make good decisions". I'm not sure we've seen that as a sure thing in the mortgage world. I sort of recall a time when we saw lots of bad choices.... This seems like an economic time bomb.