Can you imagine having a 50-year mortgage on your house?

You'll be a debt slave for life and accumulate equity slower. You can always refinance later and get a shorter term mortgage, but your monthly payments will be much higher then. You might not be able to afford it and then you're stuck.

People have a maybe 80-year life span. So if you get a mortgage at 30 years old and keep it, you'll be gone or almost gone before you ever own your house. What a kick in the ass from the government for even suggesting this scam.

Right now the big mantra is that part of the reason that houses are unaffordable is because the mortgage rate is "too high" at 6%. (still 1/2 the rate that was being charged in the mid 1980s.) The idea of the 50 year mortgage is that it "buys down" the payment by approximately a couple of hundred dollars a month on a $2000/mo mortgage.

It's basically a hack to lower house payments without lowering the prime interest rate (which would throw nitroglycerin on inflation and tank the dollar.)

It's just another financial game.

There just isn't enough supply of houses on the market. That keeps prices high. People that have a low interest mortgage on their existing home aren't willing to put their house on the market now because they would then have a new mortgage at a much higher interest rate on a new house.

A 50-year mortgage would probably lower the payment a lot but all you're paying is the huge amount of interest owed on a loan like that. Its an illusion of home ownership and not a good idea.

I've been looking to find a new house with less property for a few years. Anything decent has 10 buyers lined up driving up the price of the home to where we can't afford it. If there were more houses available you wouldn't have this kind of competition.

If less land is what you're after, could you subdivide your land, divide it into two lots? If yes, you could sell the other lot and have more cash and less land. Or perhaps zoning laws prohibit this?

I can't subdivide because of zoning laws, but I wouldn't do that anyway. Its a big pain to deal with the government.

Put on your thinking caps, peeps, it's just so fucking simple:

50 year mortgages buy down the cost of loans. Anything that cheapens loan payments adds to home prices (increases the price buyers can pay.)

This was combined with eliminating credit checks for mortgage applications, instead allowing FHA and lenders to use their own metrics for rating loans instead.

Both of these notions add gasoline to the fire of home prices. As a tack to "lower" home expense this is exactly as illogical and senseless as anything the Democrats did in the last 4 years.

I'm MAGA but Trump is being idiotic with this proposal. He's been doing idiotic things lately and right now I put him as a less evil equivalent to Joe Biden. I read someplace that Trump was furious that the 50 year mortgage concept was being dismissed broadly by economists.

I was wondering where this 50-year thing came from. So it's a new policy.

Yes it's dumb. By reducing the individual payments without actually reducing the principal, it will drive up the principal "borrowable" and then drive up the aasking prices for properties.

Similar insanities are happening here. Sydney median house price is now 13x median earnings. Used to be 4x only a couple of decades ago.

To be fair, the idea of a 50-year mortgage came from Bill Pulte, the Director of the Federal Housing Finance Agency, not Trump. His family runs Pulte Homes, though he is not involved with that business. I consider Pulte Homes to be cutthroat real estate developers whose only interest is making money.

Many years ago, Pulte Homes sued the city I live in because they wouldn't allow a huge housing development to be built right next to where I live. About 1000 houses. We fought it as residents because it would've raised our taxes significantly. They would've had to build infrastructure like water/sewer, new roads, schools, etc. to support it, all at the town's expense. My town is rural with wells, septic tanks and oil heat.

Pulte Homes was nasty and threatening to deal with. I received nasty, threatening letters from them, as all of my neighbors did. In the end, Pulte Homes was not able to build there. It took several years to defeat them but the people did with the help of local government.

When I found out Bill Pulte was the one that suggested a 50-year mortgage to Trump, I thought it was a scam that just benefited investors, not a wise choice for people looking to buy their first house. Trump needs to get rid of this guy. He also oversees Fannie Mae and Freddie Mac loans. This is how the AI in the Brave browser describes him, in part:

"Bill Pulte, confirmed as director of the Federal Housing Finance Agency (FHFA) in March 2025, has taken an active and controversial role in overseeing Fannie Mae and Freddie Mac, appointing himself chairman of both entities shortly after assuming office. Since then, he has implemented several significant policy changes and drawn criticism for his management style and political actions."

Trump made a bad pick. The guy is a predator and has too much power.

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Can you imagine having a 50-year mortgage on your house? (Public Board)

Purely reactionary financing concept

Purely reactionary financing concept

Purely reactionary financing concept

Purely reactionary financing concept

This will all add to housing inflation

This will all add to housing inflation

This will all add to housing inflation