It’s a good deal for most responsible people with a steady source of income who want to live in an area with reliable property values. If their income goes up, they can easily make additional payments to pay off the mortgage early if they want to save some money on the long term interest payments
If one isn’t good with math, then I agree it can easily become a bad idea.
If real estate values don’t increase, it’s a bad idea.
Why not take a risk living on a mountain top in a cheap trailer, and investing your money in a helicopter for your daily commute to you’re ivory tower job? At least it would be more fun and exciting.
>> If their income goes up <<
And what planet would that be on? We have 90 million Americans not even generating an income, and 47 million on food stamps.