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infinitesunrise@slrpnk.net ⁨3⁩ ⁨days⁩ ago

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.

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alekwithak@lemmy.world ⁨3⁩ ⁨days⁩ ago

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?

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- Swedneck@discuss.tchncs.de ⁨2⁩ ⁨days⁩ ago
  en.wikipedia.org/wiki/Mathematics
  
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  - alekwithak@lemmy.world ⁨2⁩ ⁨days⁩ ago
    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.
    
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