50 Year Mortgage

[RCA]

The armies of the future will be impossible for humans to defeat. Once dominance over serfs occurs by the upper class, then all is lost. So, deciding who to vote on takes a nuanced understanding of politics.

Who is Trump really? Is he a Monarch in disguise - or is he the good guy? Not an easy question to answer.

Partial answer: When the good standards and norms of society break down through improper education, you really have very little foundation for a good society. It really has to be built from the ground up. We were almost there - but the crazy euphoria of the 60's, 70's and 80's pretty much destroyed that foundation.

 

[Fernando]

​

Why is Bert talking about Medieval Monarch?
If Fernando was on this subject, many would jump all over him.

 

[John Hassler]

Trump is a moron. Proves it every day.

 

[ucbruin]

"It's not up to the rich to bail out anybody."
I agree....
But I keep saying....
The rich have the most to lose....
Others may say it another way....

"The idea of “to whom much is given, much will be required” is that we are held responsible for what we have. If we are blessed with talents, wealth, knowledge, time, and the like, it is expected that we use these well to glorify God and benefit others."

 

[gregb]

50-Year Mortgage: Opportunities and Trade-Offs of a Longer Loan

What would a 50-year mortgage really mean for affordability and wealth building over time?

www.nar.realtor

 

[Airstream]

There is simply no easy fix to bring housing costs down. The 50 year mortgage is a horrible idea. Some have talked about portable mortgages, but that doesn’t work if the mortgage was sold. Housing just isn’t a responsive market. Supply cannot be increased quickly. And zoning and regulations are mostly state and local and not federal. This is why letting all the illegals in was catastrophic to our housing industry. It was like flooding demand and simply not having the supply to counteract. A better way would be to say to illegals, ‘You will get a free ride home and a $5,000 bonus per family member for getting on that plane and going back.”

 

[Airstream]

https://thehill.com/homenews/administration/5597005-trump-administration-50-year-mortgage/

Of all the things that will NOT make housing better, is something like this….

Not sure what the president is thinking, but this would be a personal finance disaster.

$300,000 mortgage
5.5% interest rate
Payment calculations are
20 years is $2,064 - Total interest is $195,279
30 years is $1,703 - Total interest is $313,212
40 years is $1,547 - Total interest is $442,709
50 years is $1,470 - Total interest is $581,722

I understand your analysis, but then you should also consider the PV of money difference. That 581,722 after 50 years isn’t the same value as that 581,722 in 20 years.

The big thing is that people stay in their homes on average of 12 years. And I’m not advocating a 50 year mortgage.

The biggest thing is that unless supply can be increased, just dealing with the demand side is a non-starter.

 

[gregb]

The 50 year mtg was discussed on Friday during the All-in podcast (slide to minute 20)

 

[Fernando]

Typical Trump tactic.
Throw things on wall and see if they stick.
Let the public brainstorm the issue & spend time on it and if majority likes it, Trump gets credit.

 

[Airstream]

Typical Trump tactic.
Throw things on wall and see if they stick.
Let the public brainstorm the issue & spend time on it and if majority likes it, Trump gets credit.

I don’t understand your problem. Throwing things out there is a great way to get feedback from people and to see what people think.