Posted by David Alexander on April 27, 2000 at 24:13:40:
Because people are conditioned to be able to pay off their house in 30 years and want the dream of owning there own home sooner not later. Not to mention your present value would go out the window. Why not just L/O the house out for a while and then sale.
I have seen some government loans at 40 years. And some government loans that were subsidized where if the people ever sell they pay recapture and might as have sold their soul and can never get out.