Finally, if you think there is a significant chance of there being a singularity within the next 30 years then you should get a thirty-year mortgage because the singularity will either effectively wipe out your debt (perhaps by killing us all or otherwise eliminating the value of money) or make you so rich that paying off the debt becomes trivial.
Is 30 years the practical limit, then? Buying a house sounds like a horrible idea to me, but if I couldn’t persuade someone else such than it’d be nice to give them advice conditional on their buying into a good chance of either economic collapse or technological singularity. (I know absolutely nothing about mortgages, what an APR is, etc.)
Is 30 years the practical limit, then? Buying a house sounds like a horrible idea to me, but if I couldn’t persuade someone else such than it’d be nice to give them advice conditional on their buying into a good chance of either economic collapse or technological singularity. (I know absolutely nothing about mortgages, what an APR is, etc.)