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

I'm okay with both, I don't defend everything Trump does like you did with Biden up until debate night when you went mia for months...

Tariffs and 50 year mortgages are totally diffrent things, homes aren't affordable now... 9k won't make or break most deals today.

We need a true disrupter to the market and I actually like these longer mortgages. Obviously it's a band aid until the market runs out of houses and the values go up again but this at least gives an entire other generation the chance for wealth.

 

The solution is to build more housing and eliminate red tape. Austin deregulated their zoning laws and got rid of red tape and housing prices are down double digits in Austin.... rents in Austin have fallen double digits as well.

The solution isnt to take advantage of people at a time the job market is trash and tie them to a 50 year mortgage when theyll have no equity for years

 

Austin built more apartments and single family housing than any other major city in the country which led to real estate being more affordable.

The solution is to increase supply. Not tie people to dumbass 50 year mortgages which only benefit the banks

 

you continue to act like a well educated entrepreneur but yet you constantly speak in a juvenile manner.

It doesnt take more than a high school education to understand you can take out any length of mortgage and pay extra to the principle.

 

All housing in texas is cheaper. What does Austin have to do with this

 

20-25% of borrowers make extra payments per month on average for a 30 year mortgage. Introducing a 50 year mortgage would make some sense if we had a booming job market with strong growth. Consumer sentiment is at an all time low. 70% of Americans are worried about losing their job in the next 12 months.

We are currently in one of the worst job markets in the last 20 years. You do not tie people to a long term commitment at a time folks dont have a stable financial outlook.

Austin made it easier to build housing in 2022 by deregulating the housing sector and gave incentives to home builders

 

You do understand the entire range of mortgage options are still available, right? Nobody is forcing anyone to get a 50 year. They can still get 30.

 

A 50 year mortgage feels like just stomping on the money printer all over again.

The housing market is nuts for two reasons.

1) Real estate is acting as capital storage since our money sucks so the wealthy buy it up in place of making investments that are more productive for society.

2) SFHs aren't nearly the money maker that other construction is, partly due to #1.

A 50 year mortgage is a pretty much admitting that the system is broken. Eventually the mortgages are gonna be multi generational lmao.

 

is this legit? 15 year auto loans?

 

There's only one beneficiary to offering 50 year loans and it ain't the buyer.

 

I dont understand the handwaving and chicken little attitude over 50 year loans.

10/15/20/25/30 year loans still exist.

Do you know whats worse than a 50 year loan?
Adjustable Rate Mortgages (already exist)
Interest only loans (already exists)
105% loans (been used)

the average mortgage life is 10 years (up from 8 years, thanks to high interest rates)

Very few loans are paid off at the end of their terms

this is yet another case of TDS. And we have morons in here raging about 15 year auto loans.

do any of you here realize its the banks who issue and APPROVE the loans? Not Trump

 

It's a f***ing scam. It only benefits the banks (including HUD Secretary Bill Pulte...who I'd be willing to make a significant bet came up with this idea). It doesn't lessen mortgage payments enough to be worth the fact that, based on the numbers you posted about the average mortgage life, a borrower on a 50-yr loan will never have any equity. And it's not like the difference in payment is that drastic.

Yes, of course they still have those options. No one has said any of those are being eliminated or should be.

 

It's capitulation and goal post moving.

You're educated enough to know this.

 

love it or hate it, as soon as each kid turn 18, co- signing a mortgage with is a MUST

 

Trump or posters?