Trump’s NOT saying everyone has to have a 50 year mortgage - he’s saying it should be an option. The idea has merit. And if it turns out with higher wages as people get older, they can always pay the house off sooner.
\ When my mother was young people would save up their money to buy a home - all of it. Save up the total price of a home before moving in. The change - when a mortgage was possible opened up home owership to a lot more people. This would be the same.
None if it matters if the “affordable” neighborhoods are not safe.
Yes: for those who want to keep to a 15 or 30 year plan... more power to ya... do it: there's absolutely nothing in mortgage terms -- even a 50 yr. mortgage -- that prevents you from forcing a shorter term. I'm doing that, too.
However... for those who can't get into a house otherwise, it actually makes some sense. Consider this:
> The median time people spend in their homes now is 11.8 years. Sure, there's some equity there that builds up, but if you're moving that often, then affordability matters more than equity.
> Apartment rates are bad and getting worse. This would serve to put the brakes on that if there were a bunch of people exiting for housing that's cheaper.
> Home ownership (in any form) is better for the economy than renting.
On the whole: it's not a terrible idea.