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Posted on 11/08/2025 12:23:00 PM PST by Trump20162020
President Trump proposed 50-year mortgages to improve housing affordability by lowering monthly payments. While longer terms reduce payments, they also slow equity buildup and are currently not allowed under the Dodd-Frank Act.
(Excerpt) Read more at housingwire.com ...
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We need to move away from consumer credit.
America is the world’s largest debtor nation in history.
Agreed. That's how my large, close, extended family did it. We didn't call it a homestead back then, but the property had one large home and multiple apartments. Three generations of us lived there at the same time, and then later a fourth.
The first 3D printed home sold was in upstate New York.
The lines from the printing process might be good for stucco adhesion which could make the house look more conventional.
The challenge is making multiple story homes, most only have one floor.
50 year mortgage, hell no!…houses should be much smaller and less expensive, DOGE should eliminate waste and fraud, all handout programs should be drastically cut…let people work for what they want…if they don’t want to work put concrete culverts out for them to live in…common latrine…
Property taxes are only one part. School taxes are separate battle.
No need to make houses smaller. Let people buy the house they are qualified for. Isnt that what most of us did?
Thus far I am not impressed with them but I am sure they will improve on them over time.
In most jurisdictions, the school taxes are part of the single property tax bill.
Yep...And they keep going up. What a con job.
They’re hoping grandpa or grandma die, and what’s left of that fixed income will never pay their property taxes. They’re just waiting to seize their homes. Licking their chops.
Typically, the elderly parent or relative lived out in the boonies and the heirs live somewhere "better" and not close by. The heirs don't want that old house, and it's vacant, vulnerable to squatters, vandals, critters. There's probably no insurance. It hasn't been kept up. The lawn needs care, the snow needs removal. The heirs simply can't be bothered. It's not worth it, in their eyes.
That’s just paying rent to the bank.
PS: If the elderly owner is in a nursing home and Medicare or Medicaid is footing the bill, the house is going to belong to the government anyway. All the heirs get is the liability, every day it’s vacant. They are very motivated to get rid of an old house for peanuts.
A 50 year mortgage which offers various ways of paying it off early would be a good guarantee for many. It’s like having a very high credit limit on your card when you only need a part of that. Security with the option of getting out early.
Longer lifespans make longer payoff timelines viable; mortgagors make far more in interest, satisfying the market; and yet amortizing benefits all.
There is no substitute for owning your first single-family home, even if it is the only home you ever own; and broad real property ownership creates conservatives.
Oh, I get the situation. (We are nearing the end of an overhaul of a country home with "delayed maintenance" ourselves.)
Just the same, if there is potential, there is value, and not just to one buyer. So making a heap of money wouldn't be a piece of cake if the price was fair.
a 50 year mortgage might have some interesting leverage opportunities to invest long term where the market will likely return more than the interest cost long enough to survive a down market.
Location, location, location..
You have brought up ‘cheap ‘ housing in Ft. Wayne prior..
A $1.2 mil house on Oahu, equals $600k house in MD. equals $300k house in suburban Detroit. Places I’m familiar with...
Medicare doesn’t take liens on property. Kids can’t sell and ignore Medicaid’s share, can they?
The minute 50 year mortgages are approved, home values will double.
Your property sounds similar to my family’s (see post #142 above). We all lived in what looked like an old mansion that was converted later into a full house, a duplex, and a connecting door. But it had multiple bathrooms because it had multiple apartments.
I’m not sure whether fewer bathrooms cuts down much on the price of a home. But, if it does, well, I knew large families who shared one bathroom. The only problem arises when the family comes down with the flu or a virus. I raised my kids in a home with one and a half baths, and we rarely used the half bath. Now, I live in a place with two full baths, so I’m spoiled rotten now. lol
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