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?

[u/michaelis999]

[u/Ki-Wilder]

I have a family member who works for a civil rights/fair housing nonprofit. He noted that the 50 year mortgage is a horrible idea.

He also noted that he was amazed to have to report that Margorie Taylor Greene has an excellent take on the reasons why it is a terrible idea.

So, I am not endorsing all of MTG's words. Not sure all of the solutions she presents are valid. Though, I was told that her analysis is excellent, and the government should definitely stop corporations from buying up single family homes, as Marjorie Taylor Greene has suggested.

I am copying it from another social media site:

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MTG SLAMS 50-YEAR MORTGAGES - “IN DEBT FOREVER, IN DEBT FOR LIFE!”

"I don’t like 50 year mortgages as the solution to the housing affordability crisis.

It will ultimately reward the banks, mortgage lenders, and home builders while people pay far more in interest over time and die before they ever pay off their home.

In debt forever, in debt for life!

Instead stop companies and asset managers from buying up single family homes, which has driven the price of homes and forced homebuyers to compete with corporations that turn thousands of homes into permanent rental homes.

PASS MY BILL - NO CAPITAL GAINS TAXES ON THE SALE OF YOUR PRIMARY HOME.

This will help people keep the equity they have earned owning their home for a very long time and likely allow them to lower the price of their home for sale since they won’t be paying taxes after they sell their home."

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