A New Type of Mortgage

Even as a young boy I thought that 30 years is too long of a time period to have to pay for your house. Typically you don’t get out of school until 18, and very rarely do you get a mortgage at 18; but even if you did, you would be in the shadow of your 50^th birthday before you would own the place you live in—according to plan of course. After 6 years you only own 10%. Of course, if you sell it around the 6 yr mark, you and your realtors end up literally splitting that portion of the equity with you (60-40 though as they often get 6%!). It has always seemed to me that there has to be a better way—are we 300 million serfs all tenant farming five days a week? That small yet apparently life-consuming question is what I am hoping will rule the content on this blog.