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."
You can always add extra payments.
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.
If builders would build smaller homes, maybe people could afford them.
Trump needs to set The Fed’s Inflation Target to 0.2%.
Why not perpetual mortgages?
I believe they were doing 50 years in Germany when I was last stationed there. I heard such a thing in any case. They became multi-generational homes is what I also heard. Scuttlebutt. Couldn’t prove it if my life depended on it. Lol.
Why not 15 year car loans to help with affordability? /s
Omg what a horrible idea. Geez…….
And 50 years later, after paying tens of thousands in punitive property taxes, you still won’t own that home unless you keep paying the government rent.
Ruthless loan sharks must be envious of this arrangement.
Not a good move. Looks real bad as well.
I still have trouble with 72 month car payment schedules.
I am still in Trump’s corner, but this is a head-scratcher, to say the least.