Firstly its not a government that chooses YOUR term of loan, it is YOU and YOU alone.
40 year home loans are available here already and have been around since 2019 and is YOUR choice to take that offer if it suites YOUR needs, not a governments.
No one stops you from paying this out early in lesser years if it is in the contract, again YOUR choice.
Then if I was young again and had trouble getting into the market I would possible see what a 40 year loan involved, lower payment of course but higher interest overall. Get in smash the payments and pay the loan off in 25 to 30 years if not sooner, solely up to YOU to work it through like any loan.
Still all this is a far better option than a government owning 40% of YOUR house and limiting YOU not to earn over 90k or a couple 120k without penalties.
