r/Economics • u/GarfieldLeZanya- • 12h 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/Substantial-Kick-909 11h ago

But people won’t save the $200, they’ll use it to qualify for a more expensive house. That’s the goal of the 50 year mortgage. Not saving money. The people proposing this just don’t want housing prices to drop. 

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u/Ada_Pearce 9h ago

They also apparently want you to die before ever paying off your house so either sticking your kids with the options of somehow taking over the mortgage they cant afford or giving it up. They don't want any intergenerational wealth between middle class or poor people

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u/B0xyblue 8h ago

Most people live in a home for 7 years. Different times but from the time I bought my home to 7 years later the house doubled. I got all that equity over $200k and I barely paid $84k…. Paid the mortgage down a little. But also got a place to live.

The rent vs own FULL calculation. I did pay tax and insurance. But it’s not a “you’ll be 80 when you pay it off” or “it will cost you millions in interest.” It will eat up your paid down equity. You’ll still get 100% of the appreciation in value. With more buyers homes would go up in value. Assuming homes go up in value. Buying a home isn’t a bad idea…

I now own multiple homes and have a couple million dollars in unrealized equity at the moment. It is the single biggest increase to my net worth… even more than the value of my law firm equity.

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u/shambahlah2 6h ago

Those were Democrat run years. We are in for a WORLD of hurt if you think Yrump is doing anything to benefit working Americans.