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Posted on 11/11/25 at 7:12 pm to cdur86
quote:
Did I miss something? Are we being forced to pay 50 year mortgages? Are the 15 and 30 going away? Are they taking away refinancing at lower rates?
For those of us that already own a house, it doesn’t matter. We’ll rise with the tide. But for anyone who doesn’t already own a house? Most people won’t be able to afford a first house at inflated prices without financing for half a century.
Posted on 11/11/25 at 7:25 pm to Joshjrn
quote:
For those of us that already own a house, it doesn’t matter. We’ll rise with the tide. But for anyone who doesn’t already own a house? Most people won’t be able to afford a first house at inflated prices without financing for half a century.
Makes sense. Hopefully it doesn’t raise prices too much. The $8k new home buyer credit that Obama implemented didn’t make a difference in house prices from what I remember when I bought my first house
Posted on 11/11/25 at 7:31 pm to cdur86
quote:
Makes sense. Hopefully it doesn’t raise prices too much. The $8k new home buyer credit that Obama implemented didn’t make a difference in house prices from what I remember when I bought my first house
This is more systemic. I firmly believe longer financing is at least partly responsible for the rising costs of vehicles. I think this would have the same impact on the housing market.
Posted on 11/11/25 at 7:44 pm to Joshjrn
quote:I don't know where you live but here in Nashville you can't rent anything under 3k mo without living in the ghetto.
you’re actually coming out ahead financially versus paying less in rent
That's a $350k house note at 30 years and I'm guessing a 50y mortgage would come in closer to 2k so the math absolutely makes sense if you're betting on things always getting better.
Posted on 11/11/25 at 9:22 pm to Slippy
I just don’t see what benefit this is going to offer. A 200k 30 yr 6% loan and a 200k 50 yr 7% loan are within a couple dollars of the same payment ($1200).
I’d rather see something like people being able to buy down there interest rates with hours volunteered, etc.
I’d rather see something like people being able to buy down there interest rates with hours volunteered, etc.
Posted on 11/12/25 at 7:44 am to CAD703X
quote:
I don't know where you live but here in Nashville you can't rent anything under 3k mo without living in the ghetto. That's a $350k house note at 30 years and I'm guessing a 50y mortgage would come in closer to 2k so the math absolutely makes sense if you're betting on things always getting better.
A $350k loan for 30yr has a payment of $2,240/mo before property tax and insurance. Add the former and then add maintenance and major repair. And what, exactly, does $350k get you in Nashville?
I believe you’ve inadvertently illustrated my point.
Posted on 11/12/25 at 7:47 am to Slippy
quote:
I bought a new house with one now, I would pay it off when I’m 110. Ha! Joke’s on the bank. No way I live that long. Suckers!
You’d be paying just the interest for almost 30 years.
Posted on 11/12/25 at 7:48 am to Joshjrn
quote:
Most people won’t be able to afford a first house
Well thats the point of the 50yr mortgage
Everyone celebrates a 30yr tho
Posted on 11/12/25 at 7:53 am to SDVTiger
quote:
Well thats the point of the 50yr mortgage Everyone celebrates a 30yr tho
I could certainly be wrong, but my fear is that prices are going to adjust such that we are going to have the exact same problem, except now, building appreciable equity will be impossible for anyone who didn’t already own a home before this.
Posted on 11/12/25 at 7:56 am to Joshjrn
quote:
but my fear is that prices are going to adjust
Prices have always gone up. Rates were 9% and still went up
A 50yr option isnt going to cause the market to jump 50%
Posted on 11/12/25 at 8:00 am to Slippy
All the hassles of home ownership with none of the equity. What a deak.
When the refinancing boom was around folks were doing the same thing by extending their loans out another 30.
If rates were still low it makes all the sense in the world. If I ger sub 3 percent as I did in 2021 then give me a hundred years and all the cash you will.
When the refinancing boom was around folks were doing the same thing by extending their loans out another 30.
If rates were still low it makes all the sense in the world. If I ger sub 3 percent as I did in 2021 then give me a hundred years and all the cash you will.
Posted on 11/12/25 at 8:01 am to Slippy
When I was 20 there was no way in hell I would have committed to that amount of debt for the entirety of my working life. No way I'd pay that massive amount of interest until I started years in the future to pay down the principle.
Further Hell!. With the plastics and pine and glue that is / are used in putting houses up fast nowadays, are all parts of the house going to last fifty years? The roofs sure won't nor will any of the appliances. Laminate flooring? Don't make me laugh. siding? Double paned windows?
Heavens only knows how many times you'll change out airconditioners as the gobment (sic) redefines what's acceptable.
Further Hell!. With the plastics and pine and glue that is / are used in putting houses up fast nowadays, are all parts of the house going to last fifty years? The roofs sure won't nor will any of the appliances. Laminate flooring? Don't make me laugh. siding? Double paned windows?
Heavens only knows how many times you'll change out airconditioners as the gobment (sic) redefines what's acceptable.
Posted on 11/12/25 at 8:05 am to Cell of Awareness
quote:
All the hassles of home ownership with none of the equity
How would you not have equity when homes appreciate 3% on average per year?
Posted on 11/12/25 at 8:21 am to SDVTiger
quote:
A 50yr option isnt going to cause the market to jump 50%
Sure. The difference between a 30yr note’s monthly payment and a 50yr note is about 12%. Add in an interest rate increase for the longer note and I imagine we will see a 10% adjustment on top of whatever natural inflation we would have seen, otherwise.
Posted on 11/12/25 at 8:25 am to Joshjrn
What you are saying doesnt make sense
Posted on 11/12/25 at 8:27 am to SDVTiger
quote:
What you are saying doesnt make sense
I sincerely hope you’re right
Posted on 11/12/25 at 8:29 am to CAD703X
quote:
Better than renting forever.
That's probably not true, all things considered
You'll need some luck to come out ahead, specifically
1. Avoiding expensive maintenance
2. Not facing high property taxes
3. Having RE appreciate beyond historical norms
4. Having RE be positively valued when you have to sell
Any of those 4 alone could tank the advantage, and I imagine most people will face at least 2/4 of them over a long enough sample.
Posted on 11/12/25 at 8:37 am to TTB
quote:
I still owe Columbia House money!
Posted on 11/12/25 at 8:37 am to Slippy
Not excited. Reminded of where we actually are.
Mort - Latin origin, meaning “death”.
Gage - Anglo-French origin, meaning “pledge”.
Thus “mortgage” when combining these yields “death pledge”, or - more appropriately in the context of a 50-year mortgage - “debt pledge”. A lifetime of debt servitude. To money. To death itself. Symbolically expressed in the form of the 50-year mortgage.
Mort - Latin origin, meaning “death”.
Gage - Anglo-French origin, meaning “pledge”.
Thus “mortgage” when combining these yields “death pledge”, or - more appropriately in the context of a 50-year mortgage - “debt pledge”. A lifetime of debt servitude. To money. To death itself. Symbolically expressed in the form of the 50-year mortgage.
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