That’s how it is in Japan. 200 year mortgages are a norm.
The child that takes the parents gets to be the one to continue the mortgage.
That is false information - it is definitely not "a norm"
Typical mortgages in Japan have a maximum term of 35 years and it is expected the applicant will be no older than 80 years old when the mortgage loan is finally repaid.
There WERE those 3 generation loans in the 1980s and early 1990s when Japan was booming, due to freely available credit and increasing land prices. That was during Japan's bubble economy which was a result of the Japanese government's monetary policy to counter the rising yen in the early 1980s/
When my sister in law was looking at mortgages in 2012, the APR was I think around 3% (probably less as I rounded it up in my head) and was for 30 years
200 year mortgages in Japan may exist but they are far, far from "the norm"
There’s already stores and apps you can rent clothes...