They’re considering offering a 50-year mortgage product to a market where the average first time buyer age is 40. Like no joke they’re aiming to lock people into a mortgage that would cost more per month than renting the same property until they’re 90.
They’re considering offering a 50-year mortgage product to a market where the average first time buyer age is 40. Like no joke they’re aiming to lock people into a mortgage that would cost more per month than renting the same property until they’re 90.
How do you figure that?
https://en.wikipedia.org/wiki/Mathematics
Rents are already higher than mortgages and the whole point of the 50 year mortgage is a lower monthly payment, but okay yeah I’m the idiot.