Remember 2010-20, everyone loved saying this: Max out your mortgage and extend it as long as possible, that's how you fleece the bank. Now the new policy extends the maximum term for personal housing loans from 30 years to 40 years. But experts are saying: this is a double-edged sword, be careful. Before: rising house prices, rising wages, inflation expectations—more leverage, more fun. Now: falling house prices, no job, deflation expectations—leverage itself becomes a huge risk.