▲ 327 ▼ 'America will become a renter nation': Grant Cardone warns the US could see 100-year mortgages — says we might even rent our clothes (finance.yahoo.com) submitted 2 years ago by return2ozma@lemmy.world to c/news@lemmy.world 171 comments fedilink hide all child comments
[+] AncientFutureNow@lemmy.world 11 points 2 years ago* (last edited 11 months ago) (1 child) [deleted] permalink fedilink source hideshow 2 child comments replies: [–] Pheonixdown@lemm.ee 6 points 2 years ago (1 child) Nah, they just don't make sense for people with the way amortization works. It's not like doubling the length of the mortgage halves the payment. At 7% interest, for example as it's sort of close to the current average, changing a 30 year mortgage to a 100 year mortgage is about a 12.24% reduction in the monthly payment. permalink fedilink source parent hideshow 2 child comments replies: [+] AncientFutureNow@lemmy.world 1 point 2 years ago* (last edited 11 months ago) [deleted] permalink fedilink source parent
[–] Pheonixdown@lemm.ee 6 points 2 years ago (1 child) Nah, they just don't make sense for people with the way amortization works. It's not like doubling the length of the mortgage halves the payment. At 7% interest, for example as it's sort of close to the current average, changing a 30 year mortgage to a 100 year mortgage is about a 12.24% reduction in the monthly payment. permalink fedilink source parent hideshow 2 child comments replies: [+] AncientFutureNow@lemmy.world 1 point 2 years ago* (last edited 11 months ago) [deleted] permalink fedilink source parent
[+] AncientFutureNow@lemmy.world 1 point 2 years ago* (last edited 11 months ago) [deleted] permalink fedilink source parent