[Hugh R]

I know people doing 40 year loans with interest only for the first ten. I make a good living and I can't afford to buy my own house. Not even close. At least not on a 30 year fixed. I went from a 30 to a 20 about 5 years ago and between mortgage, college tuition for my daughter, taxes, insurance, utilites, FOOD, there's nothing left at the end of the month.

Back to the question... yes, these "creative" financing schemes I believe are allowing the market clearing prices of houses in some markets to stay high. 20 or 30 years ago, you couldn't get 40 or 50 year loans. The buyers focus now is not so much on price, but qualifying and the monthly payment. Not when they'll pay off the note.