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Reply to "Whats wrong with a 50 year mortgage?"
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[quote=Anonymous]The underlying problem is that we have not built enough new housing stock for years. Assuming overall affordability is the goal, this mortgage hack is not going to fix that. Also its not going to make as big a difference in monthly affordability as the PP's calculations assume. Just like the 30 year mortage rate is > a 15 year, a 50 year rate will be even higher than the 30. And, even assuming banks and consumers adopt this at scale (a big assumption, imo), that would juice demand without increasing supply, resulting in even higher home prices. I'd focus on reducing barriers/increasing incentives to build affordable housing stock. --signed, an economist[/quote]
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