Robert,

Point well taken, as well I think the 50 year is pushing it.

I think my point was that it does let a new market share join in on the game, where these folks couldn't afford that extra couple of hundred of dollars a month. And as you point out, they won't build equity as quickly, but it does let them start some where and hopefully move into a better position, thus becoming a valuable part of the national economy. It is a market that was never there before, just like the sub-prime market.  

When we bought a home we started with a 30 yr fixed, after several years we were able to switch over to a 15 yr fixed although it was a few more buck a month, between that and the market appreciation we were able to build a good amount of equity in this house. Now I know that this isn't the case for every consumer, but at least it gives them a chance to play the game as well as tapping a market that didn't exist before that.

Just  my opion!

Robert B.