Trump to propose 50-year mortgages - bringing affordability to home buyers

At this point I feel like you are really just talking to yourself but using others to soften the blow. Its like you know you need to hear this stuff but are afraid to look in the mirror and say it. Its just bonkers to me.

I also notice you just breezed past my comment directed at you. Almost as if you know its a losing argument so you pivot. Like you always do. Coward.

 

Liberals: You HAVE to buy health insurance or you WILL pay a fine
Also Liberals: 50 year mortgage optional? Unacceptable!

Modern liberals are fascist

 

Yeah genius, that's the point. Having worked in the banking sector for numerous years I can tell you that everyone thinks they are financially savvy but a limited number of people actually are. I would estimate something like 10 percent. This is just another avenue for big banks to prey on people and make more money. Why give billion dollar institutions one more avenue to fleece the working person? Its not another option, its a financial albatross.

 

Interesting, you are okay with someone getting a 50 year mortgage that will come with Private mortgage insurance and home insurance but bemoan people getting health insurance. You know those are required for you to have a mortgage you HAVE to have them.

 

no one is freaking out

it's just another spur-of-the-moment new shiny object to divert attention away from his ill-conceived tariffs

 

this is from Realtors.com, https://www.realtor.com/news/real-e...age/?msockid=048dc9c6e672640b15d5dd7ae7e065bf

Currently, 50-year fixed-rate mortgages are not allowed under the Qualifying Mortgages rules spelled out in federal law.
This means Congress would have to act to make them common and widely available.








another convenient false claim by trumpeteers


Trumpeteers had also claimed tariffs are a game changer. until citizens sue and take it to the supreme court.

as of right now, just like tariffs, Trump doesn't have the authority to implement it​

 

what percentage of 19.4 year olds could/would buy a house?

Rocket River

 

50 year mortgage sounds like something created by a sales department just to get people in with no real concern about their long-term financial well being.

 

79.4-50 it 29.4 I guess we have 10 year car notes too. With a 50 year mortgage even more of your money is going into interest. Most people retire at 65 so you will really be getting good money for 35 of those 50 years. Basically you live there long enough you die and the bank reposes your house.

 

Im not sure what this has to do with my point

 

A 50 year mortgage will do is lower the payment so that more people can afford the payment. However, this does nothing to increase the supply of houses, so you will increase demand by having a larger pool of buyers. So, prices will go up. Which means that housing becomes more expensive.

I mean basically there is interest only loans to buy houses......

 

I find it bizarre that Trader_ J, the self-described financial wizard, thinks that a 50 year mortgage is a good thing. Seriously? You've apparently lost your mind, and all because your hero, Mr. trump, proposed it. trump could propose damn near anything, no matter how stupid (like this absurd proposal), not matter how damaging to our country, no matter how immoral it might be or unconstitutional, and you'd show up down here to sing his praises.

You are a silly, silly man.

 

You right!

Rocket River

 

Hell seems like people have a problem selling the houses they have
How would building more make anything better?

I seriously doubt it would lower the payments that much

Rocket River

 

I am sorry, it requires a miniscule amount of thought to make the connection. My bad.

 

As a realtor I'm all for this, most people move out in 7 years and upsize..... Equity is not only dependent on the mortgage length but also on the down payment and market value growth.

 

If you think someone with a 50 year mortgage is going to pay a healthy down payment then youre an idiot man. This is the worst idea introduced in sometime. This will make the 2008 housing bubble look tiny. At a time the job market is crumbling and growth stalled you want to lock people into a 50 year mortgage with no equity?

This is one of the dumbest lowest iq ideas yall have ever introduced

 

It really depends on the buyer, I just had a well off buyer go with an FHA over conventional because it gave them flexibility and more security than dropping over 40K on a home loan. This could be great for 1st time buyers who are very stressed over their job security, or current situation. How many people end up paying their 30 year mortgage in actually 30 years? Like I said, many move out and their equity is not just solely based on their payments. This could create buying opportunities in a moment in time where buying is very difficult for average people under 40. This is great....

 

Or how about we drop the dumbass tariffs that are raising housing costs ? You know you dont have to worship Trump right?