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A P&I loan at 6% on $1,000,000 over 25 years will mean a monthly payment of $6443. A 50 year loan will mean a payment of $5264. A 20% reduction in payments in return for a doubling in the term. Perhaps not really worth it.

The owner with a mortgage has gone up while the owner without a mortgage has gone down. The renter private landlord has gone up while government tenants have gone down. The proportion of owner occupied private dwellings has gone from 71.4% to 69.8% since 1966. 1.6% drop in nearly 50...

Guru1 When you quote an article, please attribute it, and just quote a part. Reproducing a substantial part of an article without attributing can put the forum in breach of copyright laws. Can you please amend the post to reflect this? Thanks