OMG no.
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First thing, I’m not advocating for long term debt structures for individuals, but I wouldn’t be so quick to shrug them off.
“The devil’s in the details.”
I’m not a fan because stretching current real estate debt out will only continue high valuations, instead of sellers dropping their pricing.
However, mortgage debt has a complex history and prior to the current government real estate market created after the Great Depression & WW2, an individual generally had to secure a bigger down payment and had shorter length on the note.
I’m a skeptic for now, but history shows that longer terms weren’t the end of the world for creditors or debtors post WW2.
Like I said - to be fair, not all in a single comment - a part of me is actually rather torn on this.
We’ve seen that the “market” will bear things like Klarna, where people actually pay for the taxis for their burritos in installments!
I guess I’m old enough it won’t matter to me, but what I’d tell my kids and grandkids? Get a promise NO BAILOUTS.
Problem is - 50 year promises from the government are written in jelly.