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it takes a long time[a lifetime for most] to pay off the mortgage.
Those baby boomers were also once youngsters who couldn't afford to get into property and then struggling to pay a mortgage once they had children. Perhaps even tougher when not so many women were working? They certainly had far less in material possessions."
Baby boomers paid their mortgages with much higher interest rates than today. I think at one time it went as high as 18%. Even managed to pay it with many wives stay-at-home mums with family living on one wage. Says a lot for many of the current generation.
