re: Coming to a McMansion near you...the 50 year mortgage

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Holy shite .. you see a tweet about extending mortgages to 50 years and THIS is your takeaway ?? Jesus Christ .. this has to be a troll post, right ? Im going to give you credit for not being that much of a moron .. it would explain a lot about the mental capacity of the current American voter though, ill give you that .

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Goddamn, y'all take things way too seriously. I like conspiracies because they are fun thought experiments. They've been talking about extending the human lifespan by 50 to a 100 years for decades. With gene editing technology as well as just good old fashioned slam mechanics into a body to keep it working, it was oddly coincidental that some propose extending a "lifetime mortgage" by 20 more years.

That's fun to think about.

I ran the amortization schedules for shits and giggles. If you take a 50 year mortgage and apply the monthly "savings" directly to the principal each year, you'll actually save money and pay off the loan about 17 months sooner than 30 years. But that's boring.

We need “portable mortgages”. They are common outside of the US. Borrower takes their current rates with them.

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Bring manufacturing back to the US, all industries, prices will drop down like a fat kid on a cup cake.

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This doesn't make any sense.

How can we bring manufacturing back to the US and be profitable without prices increasing?

a massive crash which seems to be what everyone wants
—-what??

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Another dumb idea

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he doesn't lack them.

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RE is over-valued and we need a lot of deflation in the RE market.

He's engaging in histrionics and calling that a "massive crash" to use dishonestly make it sound scary-bad (see your reaction for why)

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I’ve been warning people about this for years, and every time I do, I get called out for “wanting a crash.” That couldn’t be further from the truth. A huge portion of my net worth is tied up in real estate (not even counting my personal residence) so a crash would hurt me more than most. But I’m not naive enough to believe that the massive price increases we’ve seen, propped up through all kinds of artificial measures, are healthy or sustainable.

Crashes take time. People forget that the 2008 collapse was decades in the making. It started with Jimmy Carter and was amplified by bad policy under every administration that followed until the system simply couldn’t sustain itself anymore.

Yes, the market has been chugging along, and now we’ve got 50-year mortgages to keep the ride going even longer. But pretending that’s “healthy,” instead of allowing home values to align with wage growth, is pure head-in-the-sand ignorance.

If COVID-era forbearance policies hadn’t let people go years without making a single payment, we probably would have already seen a much larger correction. Trump just ended COVID forbearance last month, so in about 3–6 months, we’ll likely start seeing those homes hit the market, bringing back a necessary part of a healthy system: foreclosures. But with 50-year mortgages, we’re basically eliminating foreclosures again. You can’t remove natural market forces and think that’s good for consumers. It only makes the bubble worse.

We would be better off doing nothing for a decade and keeping 30-year rates high to slow down demand while allowing wages and inventory to catch up, but no one has the stomach to let that happen.

The 30-year mortgage is why so many people in this country are house poor. 15-year should be the max, and a down payment should be necessary.

Everyone’s houses would be smaller and also more affordable.

Pay it of early, if you can afford it at current rates at 25 years, take advantage otffthe rate and pay it off in 12.5.

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Only thing we thrive at is managing intelligent foreigners.

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You do know that a ton of those "smart Indian foreigners" actually fake their test scores and diplomas with the assistance of Indian placement firms who get a commission for placing H1Bs here?

It's a huge bullshite scam.