Let’s also not forget that the biggest obstacle for first time homebuyers is not the monthly payments (which are typically similar to or even lower than their current rent rates, but with the added benefit of building equity) but to saving for the down payment while paying that rent. A 50 year mortgage only serves to prop up already inflated home prices, not to decrease them, meaning it does nothing at all to help someone actually become a home owner in the first place.
Let’s also not forget that the biggest obstacle for first time homebuyers is not the monthly payments (which are typically similar to or even lower than their current rent rates, but with the added benefit of building equity) but to saving for the down payment while paying that rent. A 50 year mortgage only serves to prop up already inflated home prices, not to decrease them, meaning it does nothing at all to help someone actually become a home owner in the first place.