30, 35, and 50 year mortgages
 

Is this going on in your area? Apparently this is one of the reason why prices continue to rise and are still being bought at record levels. People could no longer afford to buy under 25 year terms so mortgage terms are now being extended to accomodate them.

jesus people would be paying so fucking much in interest.

It's only because interest rates are still relatively low. They can't stay low forever and this market can't last forever!

B

Yeah, with a $300,000 mortgage at current rates you'll pay approx. $580,000 over 25 years. The same mortage at 35 years, you'll pay $712,000.

Do you all really think that these people will be staying in the same home for the full term of the loan?

The idea is for people to buy these homes get into the loan with a 3 to 5 year must keep, based on pre payment penality and then get out and take the gains and move on to a larger home.

No one stays in their home forever anymore. People move on to bigger and better, or refi.

Some countries in Asia have multi-generational loans.

50 yrs? damn

50 years is damn excessive.