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<blockquote data-quote="Darmark7" data-source="post: 5875027" data-attributes="member: 83127"><p>At least you can sell it and get the money for it. Imagine a 100 yr mortgage. 50 yrs in and you will have very little equity built up. The problem is as long as people buy what they can afford because of “monthly payments” the industry can keep charging more and just stretch out the years. Take cars for an example. If it was like years ago when the average car loan was 3 yrs there would be no $70,000 cars. The industry doesn’t make something they can’t sell. When they stretch out loans it is a guarantee that a person will never get out of debt and will always pay the most for everything because of interest.</p></blockquote><p></p>
[QUOTE="Darmark7, post: 5875027, member: 83127"] At least you can sell it and get the money for it. Imagine a 100 yr mortgage. 50 yrs in and you will have very little equity built up. The problem is as long as people buy what they can afford because of “monthly payments” the industry can keep charging more and just stretch out the years. Take cars for an example. If it was like years ago when the average car loan was 3 yrs there would be no $70,000 cars. The industry doesn’t make something they can’t sell. When they stretch out loans it is a guarantee that a person will never get out of debt and will always pay the most for everything because of interest. [/QUOTE]
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