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Some buyers can now get 30-year mortgages. Will housing affordability improve? (globalnews.ca)

submitted 4 months ago by [email protected] to c/[email protected]

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[–] franklin 0 points 4 months ago* (last edited 4 months ago) (2 children)

What an insane dystopia this is. 30 years of your life of which most people whould need to be likely 25 to have the required credit. That's just not sustainable.

Rather than addressing the rapid inflation of housing prices when compared to median income the solution is to endenture buyers for another 10 years, brilliant. Why don't we raise retirement while we're at it, just race all the way to the bottom.

[–] Rognaut 3 points 4 months ago (1 children)

I'm about to step into a 30 year mortgage. I'll be 63 when it's paid off, if I only make minimum payments.

Wild to think about.

[–] franklin 1 points 4 months ago

The feds keep talking about taking action to bring prices down, hopefully we see that in our lifetime.