40-year mortgages

Let's see now, if I buy a house when I'm in my mid-20s, I will have it paid off just in time to retire. On the other hand, if I'm like most people and don't buy until I'm in my 30s, then I'll be paying off the mortgage with my CPP.

A forty year mortgage shows that our governments have failed to make housing affordable for large numbers of people. It also forces us to question what the difference is between a mortgage and a lease if at the end of (say) 20 years you don't any appreciable amount of your home either way.

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Gary Dale