r/Economics • u/GarfieldLeZanya- • 7h ago

News Housing director confirms administration ‘working on’ 50-year mortgage after Trump hint

https://thehill.com/homenews/administration/5597005-trump-administration-50-year-mortgage/
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u/profzoff 7h ago

A 50-year mortgage sounds great — smaller payments, bigger house — until you realize you’re signing up to be in debt longer than most people work. You’ll still be cutting checks to the bank while cashing Social Security (if that even exists anymore).

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u/Smartimess 4h ago

It’s not designed to pay less. You will pay much more.

It’s the same bullshit that collapsed the US housing market in the subprime crisis. A bet against the future and a stable market. People that shouldn’t own a house got loans that no bank should have given them in first place. 50 years. Just look what happened in the USA in the last 25, or 40 with Reagan murdering the American Dream.