The Trump Economy: Can’t afford it? No problem - just pay on it for the rest of your life

[Homelander]

When wages don’t keep up with asset prices due to tariffs and chaos, PEDO Trump's plan is to stretch loan terms to make things look affordable without addressing the root problem. Who benefits with actions like this? Trump's friends.

 

50-year mortgages and 15-year car loans aren’t policy - they’re capitalism on life support, selling you debt and calling it affordability.

 

Never EVER vote for MAGA Republicans again.

 

 

 

[The Frankish Reich]

I thought this was a joke when I first read it. 50 year mortgages, what could go wrong?

 

I see some reddit posters have already done the math. Example:

 

A 50 year mortgage doesn't actually bring down the cost of a home by that much.

Consider a 430k home. 30 year FRM would be 6%. 50 year FRM would be 6.5% to account for the longer term.

Monthly payment on 30 year is 2578 and on the 50 year is 2423. Total interest paid on the 30 year is $498k and on the 50 year is $1024k.

 

Got that? The 50 year mortgage would "save" the buyer about $150/month, at the cost of paying half a million more bucks over the length of the loan.

 

Possibilities:

A. He really is that stupid.

B. He really thinks you are that stupid.

C. Both A & B.

[Joe Ferguson forever]

32 minutes ago, The Frankish Reich said:

I thought this was a joke when I first read it. 50 year mortgages, what could go wrong?

 

I see some reddit posters have already done the math. Example:

 

A 50 year mortgage doesn't actually bring down the cost of a home by that much.

Consider a 430k home. 30 year FRM would be 6%. 50 year FRM would be 6.5% to account for the longer term.

Monthly payment on 30 year is 2578 and on the 50 year is 2423. Total interest paid on the 30 year is $498k and on the 50 year is $1024k.

 

Got that? The 50 year mortgage would "save" the buyer about $150/month, at the cost of paying half a million more bucks over the length of the loan.

 

Possibilities:

A. He really is that stupid.

B. He really thinks you are that stupid.

C. Both A & B.

C.  over $1mil in interest on a 50 year loan.  That's $1mil less for retirement and still paying a mortgage at 75 or 80.  Lord, I hope people are smarter than that.

[4th&long]

10 hours ago, Joe Ferguson forever said:

C.  over $1mil in interest on a 50 year loan.  That's $1mil less for retirement and still paying a mortgage at 75 or 80.  Lord, I hope people are smarter than that.

They elected Trump so I wouldn't count on people being smarter than this. 

11 hours ago, The Frankish Reich said:

I thought this was a joke when I first read it. 50 year mortgages, what could go wrong?

 

I see some reddit posters have already done the math. Example:

 

A 50 year mortgage doesn't actually bring down the cost of a home by that much.

Consider a 430k home. 30 year FRM would be 6%. 50 year FRM would be 6.5% to account for the longer term.

Monthly payment on 30 year is 2578 and on the 50 year is 2423. Total interest paid on the 30 year is $498k and on the 50 year is $1024k.

 

Got that? The 50 year mortgage would "save" the buyer about $150/month, at the cost of paying half a million more bucks over the length of the loan.

 

Possibilities:

A. He really is that stupid.

B. He really thinks you are that stupid.

C. Both A & B.

Sounds like an idea someone who regularly bankrupted business would come up with. 

[BillsFanNC]

😂

 

Billsfuk.c, Finding and Schlong!

[milfandcookies]

One of the worst ideas I’ve seen Trump have. I’m worried about him idk if he’s failing or letting others have too much influence 

[leh-nerd skin-erd]

12 hours ago, The Frankish Reich said:

I thought this was a joke when I first read it. 50 year mortgages, what could go wrong?

 

I see some reddit posters have already done the math. Example:

 

A 50 year mortgage doesn't actually bring down the cost of a home by that much.

Consider a 430k home. 30 year FRM would be 6%. 50 year FRM would be 6.5% to account for the longer term.

Monthly payment on 30 year is 2578 and on the 50 year is 2423. Total interest paid on the 30 year is $498k and on the 50 year is $1024k.

 

Got that? The 50 year mortgage would "save" the buyer about $150/month, at the cost of paying half a million more bucks over the length of the loan.

 

Possibilities:

A. He really is that stupid.

B. He really thinks you are that stupid.

C. Both A & B.

I agree this is a very bad idea, favoring shorter term mortgages of 10-15 years.  Or, in some cases, a 30 paid down over a much shorter period of time.  
 

That said, part of the problem we have is many people undervalue the notion of $150/ month saved over an extended period of time, and adjusted periodically as wages grow.  Interestingly, the same $150/mo at 7% over that period of time exceeds $700k.  At 8%, the hypothetical buyer has over a million in the account.  Inflation is a huge factor, of course.  

[All_Pro_Bills]

1 hour ago, leh-nerd skin-erd said:

I agree this is a very bad idea, favoring shorter term mortgages of 10-15 years.  Or, in some cases, a 30 paid down over a much shorter period of time.  
 

That said, part of the problem we have is many people undervalue the notion of $150/ month saved over an extended period of time, and adjusted periodically as wages grow.  Interestingly, the same $150/mo at 7% over that period of time exceeds $700k.  At 8%, the hypothetical buyer has over a million in the account.  Inflation is a huge factor, of course.  

In today's America everyone demands instant gratification and virtues such as thrift and financial discipline are unfamiliar concepts. Self-sacrifice is for suckers when you can just vote for some huckster that will raise taxes on the "wealthy" and appropriate somebody else's funds to enhance your living experience.

Edited 43 minutes ago by All_Pro_Bills

[teef]

.this can't be true.  it just can't be.  there's no way to frame a 50 year mortgage or especially a 15 year car loan as a good thing.