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Mortgages don't need to be longer. They need to be shorter, and people need to buy homes that they can afford (no more than 30-35% of your take home pay). A 50 year mortgage would mean you wind up paying several times what the selling price is. Everybody wants to own a McMansion. Well guess what, you probably can't afford to keep up with the Jones' - and Jone's can't really afford it either.
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