🚨 BREAKING: Trump just flipped the housing market
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⏰ Chapters ⏰
0:00 – Intro
0:50 – Why Trump is doing this
3:00 – Con's of the 50 year mortgage
6:00 – Pro's of the 50 year mortgage
8:11 – How long people stay in their mortgage
9:57 – ARM's vs. 30 year fixed mortgages
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Down right criminal.
Sigh… 50 years… for fucks sake. The housing prices will just increase. People will finance over 50 years raising thier buying ability. Theyll be paying for the house 5 or 6 times over.
Right when they sell in 5 years…
Well… we already have a 40yr.
Frankly, Consumers, and we’re all consumers, tend to “buy a payment”…. In other words, they don’t look at the forest through the tree.
The forest in this case will be the hundreds of thousands they will pay in interest, above the actual price of the property.
Interesting! What would be beneficial is to piggy back with a Mortgage Protection Life Insurance policy, in the case you do not outlive the term of that 50 year loan. I have learned everything is a numbers game and at this point we are just moving money around. Whether you have a high interest rate, high price of home, or extended mortgage, the math still totals to the same or more. So to the people that ask when is a good time to buy a home??? Get in where you fit in! Anytime!
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Gold!
Thank you!
NEVER recommending a 50 year mortgage loan to ANY of my clients. What a straight up evil loan plan
How many people do you know that paid off their mortgage after 30 years? The 50 yr would be no different and it’s a tool to use with a strategy based on the borrowers short and long term goals. It’s not a good fit for everyone, but it is for some.
Thank you for your objectivity
The next biggest thing to lower inflation of homes will be unloading about 85-100 mil people who shouldnt be in the market place, whether renting or buying, theyre an additional burden that the American people/market cannot absorb.
Secondly his plan is to get the market rolling, NO ONE will keep a 50 yr mortgage for more than 7 ish years at most.
💯! The people losing it about the long term interest remind me of the people that ask why banks give 30 year loans to people that are 70 or 80 years old…
Was there a reason the Interest rate used in the comparison example is 30 yr at 6.25% vs 50 year at 6.75% rate?
Difference between a 15yr and 30yr is about 50bps so most folks are using that as the best “guesstimate” from the 30yr to a 50yr rate…
Why don’t we become a nation of renters?
50 years is good if implemented correctly
Rather see portable mortgages in order to unlock the lower price and low interest rate inventory… get those trade up Sellers uncuffed…
It’s not only the total interest paid. It’s in the fact that they will pay so little toward principal that they may very easily become under water on their loan and become trapped in the loan, if they decide not to default. So it destabilizes their lives and destabilizes the market.
I have a better idea: a 1000 year loan would allow me to purchase a property so large that I could leverage it so me and my family could live off of it for generations. I wonder if that will get traction? I guess if the terms are long enough, I can afford anything? It doesn’t matter cause I can just refinance it later right?🙄
I do not think this is a good idea. They need to fire Powell and lower rates.
Your mortgage is gonna make housing more affordable. I think they’re gonna charge more money cause I can get it. I think you know America cannot just live off a real estate itself. I just saved by a tiny home, not to leverage yourself in debt and make money is the banks and the people selling and making the houses.
50 year loan is so stupid it’s unbelievable.