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Real Estate
Reply to "Whats wrong with a 50 year mortgage?"
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[quote=Anonymous][quote]Anonymous wrote: You don’t build any equity. If you’re cool with an interest-only mortgage then good for you. And home ownership had been a way for people with middle class incomes to build wealth. Can't have that.[/quote] It will mean that the government is on the hook for paying more in Medicaid for nursing home care because nobody has their house as a piggy bank anymore. The average net worth of a person will fall dramatically. But yes, banks will win big. [/quote]
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