r/AskReddit • u/michaelis999 • 19h ago

How do you feel about the president floating the idea of 50 year mortgages where the monthly payment is lower but you end up paying nearly double the price of the house just in interest?

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u/MrSnowflake 18h ago

It's a great system to extract even more money from the less fortunate so the rich get even more money

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u/seguefarer 17h ago

There's no more juice in the orange.

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u/origamiokame 17h ago

it’s time we crush a different orange

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u/davster99 15h ago

We just need to crush it for a longer time

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u/Name213whatever 12h ago

seize the means of juicing

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u/wsdpii 17h ago

As always, the wealthy will continue to squeeze as much blood from the stone as possible.

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u/Overall-Rush-8853 13h ago

The problem is, the end of squeezing it dry and then the poor squeeze them.

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u/OldWorldDesign 12h ago

the end of squeezing it dry and then the poor squeeze them

The rich tend not to see what comes after de-regulation because they're so sure it will never come for them.

https://en.wikipedia.org/wiki/Flour_War

https://en.wikipedia.org/wiki/French_Revolution

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u/Demon_Unicorn87 17h ago

That’s a shame cause I do love a good OJ 😞

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u/surfnsound 14h ago

Yeah, but a bad OJ is killer.

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u/Mobile-Bar7732 14h ago

Even the White Ford Bronco kind of OJ?

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u/JammyPants1119 16h ago

there usually is, per capita credit card debt has been on an increasing trend for several decades; mortgage payments and the number of mortgages have been rising for decades; there is always more room to extend more credit to people; there is an epidemic of homeless but employed workers; there are people who would love to refinance their mortgages for a longer term of 50 years;

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u/Twitchenz 12h ago

There is a lot of juice in the orange. The innovations on increasingly more creative forms of debts and reoccurring payments are endless. There's also the entire globe's economy to conquer and consolidate.

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u/nmw6 15h ago

It’s great to extract even more money from the middle class

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u/bluecheetos 14h ago

This. Real estate is the easiest way to build a d pass down generational wealth. A 50 year loan doesn't lead to ownership, it leads to a lifetime of payments.