In what percentage do you think people will actually paid off their 50 years mortgages before they die?

Would there be anybody who will try to fight the real estates industry, not to let them drive houses/propperties price up any more. It is so redicuriously over price right now. Just imagine everybody would have to work his/her whole life to pay for a house, is that what everybody want it to be?In what percentage do you think people will actually paid off their 50 years mortgages before they die?
The real estate industry DOES NOT set the price of homes. Buyers do. If the price of a home is too high for you don't buy it.In what percentage do you think people will actually paid off their 50 years mortgages before they die?
You know when mortgages went to 30 years everyone was saying boy why would you want a 30 year mortgage, you will never pay it off.





At one time is life people did not look at real estate and buying a home as they did long ago.





Most people that buy a house these days consider if an investment as oppose to I want to pay my house mortgage off and live comfortable.





You can never tell when you will die. You can sign loan docs on a 15 year mortgage today and die tomorrow, so a person with the mentality of why would a person obtain a 50 year mortgage.





Different people have different reasons. Why do some people buy a car on a five year plan and others might buy the same car on a 3 or 4 year plan.





Most of the time economics determine the reason we make decisions as to how long we take to purchase a house or a car.





Your question is dificult to answer for several reasons. 50 year mortgages have not been around long enough to gather enough information to determine this fact, and the other fact is that we don't know when we will die.





Proper financial planning is always a good thing, so if a person plan well enough it works out for them and that is there plan. Some people want to pay off a mortgage just prior to retirement and some plan to pay off a mortgage way in advance of retirement.





So if a 20 year old purchase a house and want to pay if off just prior to retirement then a 40 or 50 year mortgage might be low enough for him/her to have a savings account while paying down the principal on the mortgage.





So now this person has equity in the property plus a very healthy savings as well as what he has set up with his/her employer.





With the prices of houses in certain areas of this country this mortgage product is needed to assist individuals with the dream of purchasing the American Dream of owing a house as oppose to paying rent each month.





So what ever fit your financial plan a 15, 20, 30, 40 or 50 year mortgage then you should go for it.





Supply and demand will always set the price of a product. Like in Southern California there is little or no land to build any other large quanities of homes so the demand is normally very high, thus the prices will always be higher than other parts of the country.





Now if you go donw south there is still land to build large tract of houses so the values are a little bit lower there than they are in Southern California.





There are times when prices have to adjust, but then they always return to the proper value and supple and demand will once again be the primary factor in people buying a house and the price will be set by what a person is willing to buy a house for.





I hope this has been of some use to you, good luck.





';FIGHT ON';
The housing market is NOT overpriced...you know why? Because when a buyer is willing to pay a price for a property, and that property closes, then the house is worth what it sold for...b/c a ready, willing and able buyer bought it.





There is also no guarantee that ANY property will hold it's value. People assume that it will, and people in California are learning the hard way, that it isn't true.





That is what people don't understand about real estate.





People that buy homes with 50-year mortgages, that they clearly cannot afford, is a CHOICE.





I don't feel sorry for those people that make those poor financial decisions and end up eating cat food in retirement.





There are alot of amazing places in the USA that I would like to live that cost substantially more than where I am...I would also like to retire in comfort, debt free, and where I am, I will easily be able to accomplish that.





It's all about choices.