TRUMP FLOATS 50-YEAR MORTGAGES TO HELP YOUNG HOMEBUYERS
Trump compared the idea to FDR’s creation of the 30-year mortgage, which helped millions of Americans afford homes during the Great Depression.
A 50-year term could cut monthly payments and open the housing market to a new generation locked out by high prices and interest rates.
No formal policy has been announced yet, but the concept is already sparking debate.
That's called slavery
Not really because you choose whether you want the deal or not. Slaves did not choose to be slaves. It's just an option. Once you have a home and it appreciates ... you can play with refinancing, getting cash out .... all sorts of options.
I agree with all that, but the fact that this is necessary at all or else houses are not affordable should provoke more comments.
Isn't it peculiar that one should have to get indebted for the rest of his life in order to purchase a home?
The best slave is the one who thinks he‘s fee
I have choices .. slaves do not. Why would I not borrow MASSIVELY on something going down and turn around and buy something MASSIVELY going up?
You sound like a trust fund kid ... I've met hundreds of you types. You all sound the same.
Like anarchy ? Move to the Congo or Palestine and post about anarchy.
Watch the movie Jones Plantation. Sums it up very simply rather than me typing it up. Then come back and let’s discus.
And before Roosevelt a man could work one year and aford a house
Depending on the rate, it could be an improvement. In 30 years, you'll probably be paying it off with Zimbabwe-bucks.
You fundamentally dont understand housing pricing by saying this. What they are saying is that Housing prices will explode relative to pay so you need a 50 year mortgage to offset risk of the loan. They wont implement a 50 year mortgage and then let prices explode while increasing your pay.
No one is going to get a pay raise, they're laying us all one person at a time.
The only ones getting a pay raise are asset owners but even that's a bubble, so everyone is kind of cooked.
An alternative view is that the housing market appears to be rolling over and they need to entice more suckers to keep their bags afloat.
But looking at a fixed debt interest rate vs. an accelerating inflation rate in isolation, I think this might provide an opportunity - similar to the Yen carry trade.
There will also likely be 2nd order effects.
> Predictions are hard, especially about the future.
At a low rate .. It'd be good .. just don't finance it ... some people sell after 15 years anyways. You can always make extra payments to shorten the life of the loan .... so mortgages are always like variable payment loans. Pay the min. and it's 50 yrs .... pay extra when things are better ..... shorten things up.
At low rates its slavery because you wont be able to pay for the house with the wage youre paid. Otherwise there wouldnt be a need for a 50 year mortgage.
My wages are high because I'm not a lazy techie lout. I'm a tradesman ... I can make six figures at will but I choose not to (I'm in my upper 50s and a but tired.)
Trump also made overtime tax free , I bet that really burnt your ass. You just sit at home and complain ... Me and my sons will work and buy Bitcoin.
YES MORE DEBT, IS ALWAYS THE SOLUTION!
I voted for him and still largely support him (second favorite president after Teddy Roosevelt) but this isn't a good sign. FDR was one of our worst presidents, possibly second only to Wilson, and putting people into further debt instead of fixing the economy is not the way to go about things.
