> I don't think the time horizon of the mortgage is relevant.
I think that view is less prevalent than it might seem. Many people look at this as one large purchase which they intend to use for decades, which involves a number of other upfront expenses but almost always also assumes significant tax savings and appreciation over that same time period.
I've heard plenty of people talk about that as just the price to pay for getting in on that long-term gain and clearly it hasn't caused that many people to not buy houses or bail to an alternative so far. One of the reasons for that seems to be that some people value having what they perceive as an expert representing them. I like RedFin – and had a great experience using them when I bought my current house – but it was interesting seeing how some people thought it was great when we mentioned that but others — generally but not exclusively older — were really scared that there was going to be some sort of unnoticed problem with the house[1] or a technicality which would cause the deal to fall through.
1. Yes, they knew this was replacing the realtor and not the inspector. No, that did not end the concern.
