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13 points paulpauper | 2 comments | 11 Oct 25 16:42 UTC | HN request time: 0.627s | source

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BJones12 ◴[11 Oct 25 17:04 UTC] No.45550758[source]▶

>>45550544 (OP) #

Here's the grain of salt: Canada and Australia do not have 30 year mortgages yet face similar housing woes.

That said, it seems like the article buried the lede and is really complaining about interest costs.

replies(2): >>45550780 #>>45550959 #

1. moolcool ◴[11 Oct 25 17:07 UTC] No.45550780[source]▶

>>45550758 #

Canada does have 30 year mortgages

replies(1): >>45550940 #

2. bryanlarsen ◴[11 Oct 25 17:25 UTC] No.45550940[source]▶

>>45550780 (TP) #

They're amortized over 30 years, but the term is a maximum of 10 years, more commonly 5. After the term is up the next term will have a different interest rate.

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The Case Against 30-Year Mortgages