A pensioner aged 102 has been granted a 25-year mortgage despite the fact he would have to live until 127 to pay the loan back. (Times of London)
You see where this is leading? Now the 30-year-old wife of that 110-year-old Saudi is going to want him to take out a mortgage too. We're heading down the slippery slope of centenarian mortgage default by death. Can the world's economy sustain this trend?
Where's Alan Greenspan? Probably at Best Buy maxxing out his credit cards.
Somehow I can't picture myself at 100+ saying, hey I'm really old and I feel like owing money.
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