So many finance guys freak out at me when I told them I paid down my mortgage in 10 years. They're basically telling everyone to take out a loan so you can put into a 401k. Asinine.

Realize that as soon as a bank makes a loan they sell it to a larger bank. 50 year mortgages will triple the selling price of mortgage backed securities. All the big investment companies will get massively richer from this. That's why they tell you never pay off your mortgage. Since so much fake wealth is generated by cycling the loans, if everyone paid their debts the system would collapse.

So many finance guys freak out at me when I told them I payed down my mortgage in 10 years. They're basically telling everyone to take out a loan so you can put into a 401k. Asinine.

Realize that as soon as a bank makes a loan they sell it to a larger bank. 50 year mortgages will triple the selling price of mortgage backed securities. All the big investment companies will get massively richer from this. That's why they tell you never pay off your mortgage. Since so much fake wealth is generated by cycling the loans, if everyone paid their debts the system would collapse.