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Posted on 11/08/2025 12:23:00 PM PST by Trump20162020
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OMG no.
First, any time you’re leaning on FDR for ideas just stop. For the love of mike, STOP!
Second, we already *have* 50 year mortgages: They’re called renting.
Look, I can appreciate wanting to think outside the box but the key to thinking successfully “outside the box” is understanding how inside-the-box works.
Increase building of single family homes by getting rid of the green regs stopping it.
So much "seeming." So much "suggesting."
Sometimes he’s like Rush. And proves these 50 years are a problem. A 30 year is too much. 15 to 20 years? Well good.
You can always add extra payments.
This! ↑ ↑ ↑ ↑ ↑ ↑ ↑
We paid off our 30 yr mortgage by adding more than payments each month.
We need to move away from consumer credit.
Nope. The international bankers start dumping their real estate, home prices fall, there’s no equity cushion, and suddenly millions of folks are underwater and facing foreclosure, banks fail.
Wait, on second thought, that sounds like a pretty good idea for me. I’ve ridden that merry-go-round several times before, for profit if not for fun.
The man loves his debt.
The only people who “win” with a 50 year mortgage are the banks. For the first 20 years or so you will be just paying interest.
Next Trump will be talking about 20 year car loans, because who needs to pay off a depreciating asset in a reasonable time?
I went with a 15 year loan to get my house paid off. I talked my daughter into refinancing hers to a 15 year loan too.
If you really want to make housing affordable, outlaw property taxes. Yeah, yeah. I know. That's just crazy talk.
50 year mortgages were offered in the US in 2006.
Just before the crash of 2007.
They were a “failed experiment”.
And it’s a sure sign that the housing market has hit a frothing peak.
Only stupid people UNDERWRITE a 50 year mortgage, and that includes the USA.
Those damned kids wouldnt have to worry about bread if they would just eat cake like we did.
A big part of me wants to just say “Buyer beware”, roll my eyes at people who make poor choices, and just figure out how I could make money off of it....
I hate to sound like Dave Ramsey lecturing a caller who cries about being underwater, but good gravy. I just ran some pretend amortization tables and my lord. Even at 4% - a rate you won’t get - we’re talking about a nearly 8:1 interest to principle ratio! Breakeven points push out to 15-20 years!
People thought the 2008 subprime crisis was bad? Wait until we have people underwater on 50 year notes.
I’m generally opposed to government protecting people from making bad decisions, but this “Klarna-izing” finance has to stop.
We’ve already seen car loans being pushed out to a ridiculous 7 years and financial problems created by such bad loans.
There’s a point where it stops being about protecting individuals from making decisions and more about preventing slow-detonating landmines from being placed all over the broader economy.
“I went with a 15 year loan to get my house paid off.”
I took out a 30year fixed loan at 2.25%.
I pay the minimum every month, and put any extra money I have into other investments.
It’s like printing money.
“Increase building of single family homes by getting rid of the green regs stopping it.”
The Fed targets 2-3% inflation and has been doing so for decades. The problem is all the things the Fed does not measure in calculating inflation. Drugs, medical care, insurance, energy, food, etc. When they target three percent, that drives the actual inflation to 10%. Pick a basket of items, like cars, houses and large appliances and you’ll see the real inflation is at least ten percent. That means you have to vastly multiply your earnings to keep up with it and THAT doesn’t happen.
When I started out as a low-end landlord all of my renters had bank accounts. Now, only one has a bank account. That’s because all the others are living paycheck to paycheck. When a couple of them got sent home without pay because of Covid exposure, I carried them for several months. They’ve never recovered. (I’ve also given two of them running cars. I can do that because I used to keep cars for two decades. The cars don’t last that long anymore no matter the maintenance.)
Technologies exist that already reduce home building costs by 33%, but these homes are usually not within code because of the new materials.
Thats some of the worst humble bragging Ive ever seen attempted. Leave it to those damned kids.
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