50 year mortgages were offered in the US in 2006.
Just before the crash of 2007.
They were a “failed experiment”.
And it’s a sure sign that the housing market has hit a frothing peak.
Only stupid people UNDERWRITE a 50 year mortgage, and that includes the USA.
50-year mortgages are not uncommon in some European countries. They make sense under some limited conditions: (1) old cities that are fully built out so property values never decline; and (2) cultures with multi-generational housing where most new homebuyers can count on handing down properties to their children and grandchildren.