re: The 50-year mortgage is a good idea actually

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The type of person who needs a 50-year mortgage are the same people you're talking about, here.

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No its not

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That is one of your main points defending this bad decision.

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No its not. Buying a home is never a bad decision

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And this one-sided view

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Its a proven fact view

You are Diana Olynick when it comes to this debate

Great arguement

You are the one who said no one refis to a higher rate

You have to be one of the dumbest posters ever

What are you confused about Diana

You can always tell who doesnt own a property

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Have you never had a friend/acquaintance who was house poor?

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Or seen a downturn in the housing market

There are people in Austin who bought in 2022 that are severely underwater on their homes

Would you buy a manufactured home with a 50 year mortgage?

To all the 50 year loan advocates: let me tell you, paying off a mortgage should be the goal of every homeowner. Life gets much easy with no house note.

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Presumably some of them are or are being foreclosed on

shite happens in life.

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Why would they sell. Why are they being forclosed on when they can just modify and rent the home.

Also very weird I was told by SFP that ppl stay in a home loan for 50yrs or a house for 50yrs and shite doesnt happen in life

Further proof that majority of ppl do not stay in a home loan longer than 7yrs so who cares about a 50yr loan

Thanks for proving me right

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However, it’s better than renting perpetually because you can’t afford to get into a house.

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False. A 50 year mortgage is perpetual renting, just called something different. Unless you have some grand plans when you're 80 and you have that house finally paid off!

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You’ll at least gain a small amount of equity, and you’ll also stabilize your housing payment for the coming years.

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bullshite. It will raise home prices across the board. Ever bought a car? Ever wonder how the salesman can always magically come down to your number? Just like with cars, the mortgages will be tailored to make everything "affordable" as long as you are paying in perpetuity. So instead of a $2000/month 30 year note, you get to pay a $1600/month 50 year note. What a deal...

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In summary, 50-year mortgage is not as good as a 30-year mortgage but still better than renting.

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It will cause another housing crisis, and will cause the left to usher in full government control of housing loans. Surely, no one can predict a problem with that....

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People have this "rent is throwing money away" mindset that's so simplistic.



It's as ingrained in the psyche of many on the same level as the "Social security is MY money" stuff.

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I am with you on the first part, and i agree .. sometimes buying a house is a terrible move, you can lose money, be house poor or encounter myriad other issues .


But on your second statement- ive always presumed that SS is money that i and my employer paid into , out of every single paycheck i earn for decades on end- so that one day i can collect a consistent check that will help supplement my retirement when im too old to work - ie ‘my money’… what am i missing ?