” Look at Europe where they have 100-year, multi-generational mortgages.”
Many of my neighbors in Germany had 100-year mortgages. While it’s true that wages need to rise to keep pace with the cost of living, long-term mortgages can offer flexibility. The only people who risk becoming financial “serfs” are those who fail to apply surplus income toward early repayment.
Fortunately, most mortgages don’t penalize early payoff. Lower monthly payments make it possible for younger couples—especially in their 20s and early 30s with modest incomes—to enter the housing market. As their earnings grow, they can accelerate payments and potentially pay off the mortgage in 20 years.