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50 Year Mortgages - Why This is Worse for Buyers
50 Year Mortgages - Why This is Worse for Buyers There is Good Debt and Bad Debt, and we go over the difference. We talk about the ingenuity of the humans that have brought us great technologies, which is more prevalent where there are private property rights. We talk about the possibility of a 50 year mortgage. While most people today are buying based on the payment and not the purchase price, they are missing the big picture about how a longer mortgage is actually worse for their financial position. We discuss an easy example of a $100,000 home purchase and what it is like with a 15 year…
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