@m-j-r.eth
trying to reflect on why there's so much popular recoil to the 50-year mortgage...and Credibility Rules Everything Around Me
who wants to pass on shelter debt to Blackstone to their children? nobody
the framing of this mortgage narrative is that everyone will be oppressed by some misaligned entity, not that everyone will be assimilated to a social safety net.
no reason why the lender can't be a credit union or a housing collective, and the borrower can't be a larger familial unit. in fact, this reveals a stack of communal alignment.
so what constraints are missing from mortgages? upfront, they reduce down and monthly payment, which is great for lower-income viability and cottage industries. but this isn't enough hardcoded alignment, after all, any estate lawyer will tell you that managing estates inarticulably, without a will, is failure mode -- a consistent source of intrafamilial strife.
the estate annuity must be locally bound, and pre-appropriated to a combo of public works & a role model system. there's a kind of Georgist-Ricardian-Harberger providence insomuch that the local government gains institutional fiat, issuing more municipal instruments on leverage with lower time preference and smoother toxicity, counterbalanced by a healthy-growth community of handy people, backed by a flow-to-reserve of hardened store-of-value, and assertive of generational succession which avoids the "broken window" prelude to ghost towns.
this also compels literal longevity, as everyone will want to buy time to compete ahead of universal basic backstop, even though simultaneously there will be clearer incentive for their successors to work parcels for the aforementioned social standing.
in the end, it's just more optionality, and the real question is who the beholder should be. but leverage over shorter time should be suboptimal on first principles, and longer term payout is a worthy tool for community maintenance.