Another way to keep up with the Joneses!!!

[gbearbuck]

The average person lives in their home for roughly 5-7 years... 50 years is a long friggin' time. I would guess most of the folks that applied for the 50 year loan wound up going interst only (even cheaper). I interest rates were rediculously low maybe one could make an argument that going 50 years with a fixed rate would make sense...

the stated 50 year rate is adjustable. I would guess those folks would be forced out (due to lack of income) during a high interest rate enviornment (bound to happen at some point over 50 years )...