Crime Trump, 50 year mortgage?

[Croaker]

It would cost the average home owner 2 decades of debt .

Welcome to Trump World , everything backwards since at least 1990 and going strong still he’s the luckiest president in the world where stupid people managed to grow in mass amounts over time .

Opposed to the 30 year mortgage which does the same?

 

[Croaker]

lmao @ 50 year mortgages. why not just make them longer. that should help.

I think the idea is 50 year mortgage at lower interest would make them affordable and people would in theory put more towards the interest or principle. It creates stability for young owners and with the housing market being held up by investors/developers as it is can help generate liquid assets, even if not right away. Gotta think, that 20 extra years you're still saving compared to the increase of rent. The average person renting is a net negative. People don't leave the cities they're born in.

It's not a great solution, but if its available its helpful, its not like its the only thing on the table.

 

[LeonardoBjj]

Why do all of his "solutions" just fuck over the middle class and below? Oh yeah that's right, he's piece of shit.

- He always been rich?
And several of those ideas arent his. His entire team is a bunch of guys out of touch with the average american!

 

[LeonardoBjj]

grotesque.
there's people that will die without paying it off. basically a renter life.
absolutely awful

- Will banks actually even allow that?
A older people cant get some types of loans here, because of the chance they're gonna die before paying.

 

[Revolver]

I think the idea is 50 year mortgage at lower interest would make them affordable and people would in theory put more towards the interest or principle. It creates stability for young owners and with the housing market being held up by investors/developers as it is can help generate liquid assets, even if not right away. Gotta think, that 20 extra years you're still saving compared to the increase of rent. The average person renting is a net negative. People don't leave the cities they're born in.

It's not a great solution, but if its available its helpful, its not like its the only thing on the table.

Why would longer term loans have lower interest rates? Default risk would be greater.

 

[fingercuffs]

Opposed to the 30 year mortgage which does the same?

Learn something every day, I didn't even know 30 year mortgages were a thing.

 

[BlankaPresident]

Lol at people in the thread fantasizing reasons for this to be a good thing.

 

[Croaker]

Why would longer term loans have lower interest rates? Default risk would be greater.

Because they're probably subsidized. Its how its done in other countries.

There is no solution in the current market of the USA.

 

[Croaker]

Learn something every day, I didn't even know 30 year mortgages were a thing.

Its the average mortgage in America. Most people sell their homes after 12 years so the mortgage rarely lasts that long. That's also a problem. Having equity is good, abusing equity only hurts the younger generations. Its the easiest way to garner wealth though, outside of basic investing. Its why boomers have really good retirement packages for doing the bare minimum. They got in at every phase when it was cheap.

 

[Revolver]

Because they're probably subsidized. Its how its done in other countries.

There is no solution in the current market of the USA.

Better solution would be to just ban hedge funds and foreigners from purchasing residential real estate. That will never happen though.

 

[KAZSoliloquy]

I think the idea is 50 year mortgage at lower interest would make them affordable and people would in theory put more towards the interest or principle. It creates stability for young owners and with the housing market being held up by investors/developers as it is can help generate liquid assets, even if not right away. Gotta think, that 20 extra years you're still saving compared to the increase of rent. The average person renting is a net negative. People don't leave the cities they're born in.

It's not a great solution, but if its available its helpful, its not like its the only thing on the table.

there's zero chance any bank is taking on a LONGER loan (higher chance of defaulting, the person dying, etc) with less overall interest. you're being conned.

 

[UberHere]

grotesque.
there's people that will die without paying it off. basically a renter life.
absolutely awful

No, not at all like a renter for life. The rent goes up every year. Your mortgage doesn’t. Plus if you sell your house, you get back what you’ve paid. Renting is just pissing it away.

 

[Croaker]

there's zero chance any bank is taking on a LONGER loan (higher chance of defaulting, the person dying, etc) with less overall interest. you're being conned.

I am not being conned, I'm giving options. Options are needed.

 

[Croaker]

Better solution would be to just ban hedge funds and foreigners from purchasing residential real estate. That will never happen though.

That would be a good start, but it would create a backlog because they already have developers booked 20+ years into the future. It would create a backlog they would extend out and raise the prices of new developments. Banning foreigners from purchasing US land or real estate is a no brainer though.

 

[avenue94]

I think the idea is 50 year mortgage at lower interest would make them affordable and people would in theory put more towards the interest or principle. It creates stability for young owners and with the housing market being held up by investors/developers as it is can help generate liquid assets, even if not right away. Gotta think, that 20 extra years you're still saving compared to the increase of rent. The average person renting is a net negative. People don't leave the cities they're born in.

It's not a great solution, but if its available its helpful, its not like its the only thing on the table.

Why would the interest rate go down on an inherently riskier loan for the lender? This is ridiculous cope.

 

[Brampton_Boy]

I still owe 800k or so on my house. The Neverending gift of debt.

At least the first $1,700,000 is paid off

Damn, that must be a pretty nice house.

You equity position is also really solid - you have clearly made this debt work for you.

 

[Croaker]

Why would the interest rate go down on an inherently riskier loan for the lender? This is ridiculous cope.

I am assuming they're being subsidized in some way. If not, then its not going to work at all.

 

[Thepaintbucket]

It's like slavery with extra steps if you want to be able to own a house.

You should look up the median age of home ownership by each decade.

 

[avenue94]

I am assuming they're being subsidized in some way. If not, then its not going to work at all.

Why not just subsidize shorter term loans then? You're assuming a lot of competence from an administration that's utterly incompetent on a weekly basis.

 

[Croaker]

Why not just subsidize shorter term loans then? You're assuming a lot of competence from an administration that's utterly incompetent on a weekly basis.

Because its following working trends of other countries.

I don't assume competence in any administration, and if you have you're an idiot.