Homelander Posted 19 hours ago Posted 19 hours ago 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. 2
The Frankish Reich Posted 17 hours ago Posted 17 hours ago 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. 2
Joe Ferguson forever Posted 16 hours ago Posted 16 hours ago 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 Posted 6 hours ago Posted 6 hours ago 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.
milfandcookies Posted 5 hours ago Posted 5 hours ago 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 Posted 4 hours ago Posted 4 hours ago 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 Posted 3 hours ago Posted 3 hours ago (edited) 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 3 hours ago by All_Pro_Bills 1 1
teef Posted 3 hours ago Posted 3 hours ago .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.
Joe Ferguson forever Posted 2 hours ago Posted 2 hours ago 1 hour ago, teef said: .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. It's true. This is his "gift" to the middle class. If he had a better solution or was willing to demand the ultra rich pay more so that people could buy a home, he'd have said so. Are 2 yachts or jets better than 1?
Joe Ferguson forever Posted 2 hours ago Posted 2 hours ago (edited) 1 hour ago, All_Pro_Bills said: 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. Historically, the marginal tax rate on the highest earners is low. We are trillions in debt. Why lower it further? https://bradfordtaxinstitute.com/Free_Resources/Federal-Income-Tax-Rates.aspx Edited 2 hours ago by Joe Ferguson forever
All_Pro_Bills Posted 1 hour ago Posted 1 hour ago 1 minute ago, Joe Ferguson forever said: Historically, the marginal tax rate on the highest earners is low. We are trillions in debt. Why lower it further? https://bradfordtaxinstitute.com/Free_Resources/Federal-Income-Tax-Rates.aspx I don't disagree but I see the $38 trillion in Federal debt and conclude we're heading for an unavoidable financial disaster regardless of what the marginal tax rate is on income. I'm interested to know if you see any way out of either direct default or attempting to inflate away the debt? 1
teef Posted 1 hour ago Posted 1 hour ago 10 minutes ago, Joe Ferguson forever said: It's true. This is his "gift" to the middle class. If he had a better solution or was willing to demand the ultra rich pay more so that people could buy a home, he'd have said so. Are 2 yachts or jets better than 1? this isn't fixing anything. just masking and making a problem worse. i just can't imagine the value of a 50 year mortgage. it kills you in interest, you never have any real equity in the house until decades in, and you still have the usual cost of up keep that comes with a house. the 15 year loan on a car should really speak for itself. if anyone wants to prepare their kids for the future, teach them basic finances. 1
Joe Ferguson forever Posted 8 minutes ago Posted 8 minutes ago 1 hour ago, All_Pro_Bills said: I don't disagree but I see the $38 trillion in Federal debt and conclude we're heading for an unavoidable financial disaster regardless of what the marginal tax rate is on income. I'm interested to know if you see any way out of either direct default or attempting to inflate away the debt? . the fact that we buy more product than any other country protects us to a degree.. Our creditors would be hurting themselves by pushing us into default. In the short term, balancing the budget or at least decreasing the yearly deficit, in part by increasing taxes on the wealthy, would be a step in the right direction. If all else fails, we have the dominant military institutions in the world, for now.
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