No, no and no again.
You already pay, in total (due to the total interest that will be paid) much more than most people realize on a 30 year mortgage.
On a 30 year mortgage for $400,000 at a 6% annual interest you’ll actually pay $463,323 by the end of the mortgage.
On a 50 year mortgage for $400,000 at a 6% interest rate you’ll actually pay $714,258 in total.
What is needed is a big dose of DEFLATION in the current housing prices that are highly inflated. Yes, sellers who are among more recent buyers will have to take a hair cut, and sellers who bought many years ago will have to not get the current inflated prices. I don’t know what else is going to “correct” the housing markets that are the most inflated.
“What is needed is a big dose of DEFLATION .....”
As one who has no debt, I agree.....