This is Trump saying he's not going to deport enough illegals to make a difference in the housing market, and that he has contempt for Gen Z. It's an unbelievably stupid move that is going to do nothing other than seal defeat in the midterms. I remember car loans went regularly for 4 years. What are they now? Seven? Eight? And a 30 year mortgage that will only enable price creep to get back to the same monthly levels as now but with a 50 month (lifelong) time frame, instead of 30. 

 

Quote

Federal Housing Finance Agency (FHFA) Director Bill Pulte on Saturday said the Trump administration is “working on” a plan to introduce 50-year mortgage terms for home buyers. “Thanks to President Trump, we are indeed working on The 50 year Mortgage  – a complete game changer,” Pulte wrote in a statement on the social platform X. It followed a Truth Social post by President Trump earlier in the day where he shared a graphic juxtaposing an image of him next to one of former President Franklin D. Roosevelt. The administration that oversaw the New Deal established the 30-year mortgage standard to help citizens recover from the Great Depression.

 

https://thehill.com/homenews/administration/5597005-trump-administration-50-year-mortgage/

12 hours ago, John Drake said:

This is Trump saying he's not going to deport enough illegals to make a difference in the housing market, and that he has contempt for Gen Z. It's an unbelievably stupid move that is going to do nothing other than seal defeat in the midterms. I remember car loans went regularly for 4 years. What are they now? Seven? Eight? And a 30 year mortgage that will only enable price creep to get back to the same monthly levels as now but with a 50 month (lifelong) time frame, instead of 30. 

 

 

https://thehill.com/homenews/administration/5597005-trump-administration-50-year-mortgage/

A 50 year mortgage is akin to paying rent.  We now have 96 month car loans.

1 hour ago, TedG said:

A 50 year mortgage is akin to paying rent.  We now have 96 month car loans.

Exactly, and the banks get richer through owning property (on default) and receiving monthly "rent" income.  Of course, US retirement pensions and welfare payments will be enough for people to pay off their mortagages during old age/retirement years, not.

1 hour ago, TedG said:

A 50 year mortgage is akin to paying rent. 

Not for those who have children. 

It would be an inheritance. 

5 hours ago, TedG said:

A 50 year mortgage is akin to paying rent.  We now have 96 month car loans.

 

You will own nothing and be happy.

4 hours ago, SAFETY FIRST said:

Not for those who have children. 

It would be an inheritance. 

 

And for the children? They graduate college, move out of the house, find a job, start building some equity and few years later buy a home . . . which is paid off when they're 75 or 80??? If they should live so long.

27 minutes ago, John Drake said:

 

And for the children? They graduate college, move out of the house, find a job, start building some equity and few years later buy a home . . . which is paid off when they're 75 or 80??? If they should live so long.

I'm not sure you understand a mortgage 

19 hours ago, John Drake said:

This is Trump saying he's not going to deport enough illegals to make a difference in the housing market, and that he has contempt for Gen Z. It's an unbelievably stupid move that is going to do nothing other than seal defeat in the midterms. I remember car loans went regularly for 4 years. What are they now? Seven? Eight? And a 30 year mortgage that will only enable price creep to get back to the same monthly levels as now but with a 50 month (lifelong) time frame, instead of 30. 

 

 

https://thehill.com/homenews/administration/5597005-trump-administration-50-year-mortgage/

Inflation is killing America. Housing is unaffordable and out of reach of most younger people. Some Gen-X will be lucky enough to inherit their homes from their Boomer parents when they croak.  Then they'll be saddled with property tax payments on paid for homes that will rival the monthly mortgage payment I made on my $85K 4 bedroom, three bath, two car garage home I had before I left the US.  That house is like $450K+ now.  The 100 year old house my sister bought in Seattle for $9,500 in the 1970 is worth over $1 million now.  But the property tax is now magnitudes more then her past mortgage payments.  The US elites, like Trump, have skewed the housing market into unaffordably by making houses profit generating investments instead of a home and primary residence.
50 year mortgages?  Why not Life-Time mortgages?  Then there will be no difference between buying and renting.  It's all unaffordable with money people dumping 50% or more of their income to put a roof over their head.  Back when my father was in real estate, banks wouldn't ever give a loan to someone whose mortgage payment was over 25%.  Nor should they now.  Welcome to the road to financial serfdom. 🔥

The US and pretty much all of the West is a mess.  Basic needs - which personally I consider human rights, like a roof over your head, sufficient food, (in the US...transportation), and healthcare - are now out of reach for an absurdly large percentage of US citizens, most of them being young people 40 and below.

My Thai son bought a three bedroom, two bath, with a carport for the equivalent of $85K in Chiang Mai. Property tax is next to nil.  Housing is still affordable here, for now.  America and the West - stick a fork in them, they are done.

Fyi - John Drake.  Back when I bought my first car it was three years of payments. I can remember when a new car was selling for maybe $2500 dollars.  Now?  Ridiculous prices. $50,000 for a freaking car?  What the government and corporations have made out of America is criminal.  And it's one of the prime reasons I left the US.  When the Western serfs finally figure out that they are debt-slave to banks and corporations - look out.  

4 minutes ago, connda said:

Then they'll be saddled with property tax payments on paid for homes that will rival the monthly mortgage payment I made on my $85K 4 bedroom, three bath, two car garage home I had before I left the US.

 

Back in my old home, property taxes were frozen upon request at age 65. If you didn't know to ask, well . . . But the point about inheritance is interesting. Yes, I think children getting parents' houses will result in an instant re-evaluation and unfreezing of property taxes where, you're right, property tax payments will be as high as parents' initial mortgage payments.

39 minutes ago, SAFETY FIRST said:

I'm not sure you understand a mortgage 

 

What it's not fifty years? And you buy a house the year you graduate, without saving anything to put down and meet loan requirements? Few people are going to jump into a mortgage at age 21. A fifty year mortgage is a ridiculous timeline.

1 hour ago, John Drake said:

 

You will own nothing and be happy.

That’s where the world is headed

just another grand idea to enslave the populace. I don't envy the young of today.