Yeah homeowners know this, you're buying into an elaborate pyramid scheme. The interest doesn't matter because you can count on the value of the house to far surpass it.

I'm canadian and our entire economy is based off of an artificially inflated housing market. Almost the entire canada pension fund is invested into REITs and the chance of housing ever going down in value is slim to none. The gov will do whatever possible to prevent that. The entire country could be in shambles and the gov will just keep bailing out homeowners and increasing immigration.

Take out a 30 year mortgage and join the club. If you can't beat em join em.

I have a 30 year mortgage on around $450,000 but my condo has already increased by $50,000 in the last year, but I've only lost about $15000 in interest. In 5 years I should be able to leverage the condo into a $1m house with yard, just outside city limits. I deliberately bought on an island that is insanely desirable and all the land is already spoken for. Eventually a developer will want my acreage and I'll cash out again, and then I'll move somewhere cheap and never work again.