100 year loans!?! I cannot begin to say how horrifying I find that. I fully aim to pay my bast&rd house off so that when I ride off to Valhalla astride a magnificent black steed, axe in one hand and beer in the other, that my kids will have a solid backing behind whatever nonsense they want to do in life. The idea of essentially renting with no prospect of paying off is repugnant and that's not a word I think I have ever written down!
The Swedes have lost their Viking helms and replaced it with a rented tux.
It is pretty crazy - though, perhaps with a 100 year loan, with the excess income put into crypto... :D
Lol, bloody renting Swedes!
I can see some advantages in a way, house prices are increasing to such a degree here that some people will never be able to afford to buy in their lifetimes and increasing the term would help, but hell, I feel the weight of a 25 year one pulling me down. Then again, some excess into crypto and become a whaley king!
What i see happening is that a lot of people are going to lose their houses as they overpaid, or be forced into refinancing for a longer loan. Back in the day it was "taking a second mortgage" - scam.
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