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re: Trump promoting a 50 year mortgage. Dave Ramsey will lose his mind. Terrible idea - imo
Posted on 11/10/25 at 1:52 pm to AncientTiger
Posted on 11/10/25 at 1:52 pm to AncientTiger
I would hope the average imbecile who enters in a 50 year mortgage has enough sense to know to make payments above the interest/principal in order to get the debt paid off sooner…but yet I know it won’t happen and young people will play the victim
0
Posted on 11/10/25 at 1:53 pm to SlowFlowPro
quote:Not with that kind of production. Of course the problem with leverage comes in the other direction where losing more than just your original investment is possible.
Couldn't you take the savings from renting and use leverage with that and invest over that same time period?
But the reason home ownership works so well for most Americans is appreciation is far more likely than depreciation.
Posted on 11/10/25 at 1:57 pm to NC_Tigah
quote:
But the reason home ownership works so well for most Americans is appreciation is far more likely than depreciation.
That expectation is exactly why government policy is so focused on inflating the values of RE.
Posted on 11/10/25 at 2:37 pm to SlowFlowPro
quote:But that has always been the case, with or without government. E.g., NYC has seen multiple RE booms -- mid19th century, late19th century, the roaring 20's, the 1980's, etc. What was government's role in the first three?
That expectation is exactly why government policy is so focused on inflating the values of RE.
Posted on 11/10/25 at 2:40 pm to NC_Tigah
quote:
E.g., NYC has seen multiple RE booms -- mid19th century, late19th century, the roaring 20's, the 1980's, etc.
And they all had successive crashes, no?
Posted on 11/10/25 at 2:54 pm to SlowFlowPro
quote:Sure. But the last one in NYC ended less than a decade ago. The spread is normally 40-50 yrs. But your posit is government is driving RE inflation, which has always been there.
successive crashes, no?
Posted on 11/10/25 at 3:11 pm to SDVTiger
quote:
This is a stable genius move
Lets stop pretending anyone pays off a home now with a 30yr fix
A retarded take. 15 years max and then you throw everything at the rest of it to pay it off (unless the interest rate is below 5% -- then maybe you have some options).
This post was edited on 11/10/25 at 3:14 pm
Posted on 11/10/25 at 3:17 pm to MajorityWhip
quote:
30 year car loans
30 year boat loans
It isn’t crazy to offer a 50 year option on an asset that will most likely appreciate.
I'm cool with that as long as the Fed doesn't originate or guarantee those loans.
Posted on 11/10/25 at 3:24 pm to theballguy
quote:
A retarded take.
Not really when 97% of ppl dont make it past year 7
I realize that EVERY single person on this board is the exception tho
Posted on 11/10/25 at 3:30 pm to theballguy
quote:
A retarded take. 15 years max and then you throw everything at the rest of it to pay it off (unless the interest rate is below 5% -- then maybe you have some options).
Why would I want to pay off a 5% mortgage when I can take my money, invest it and make 10%?
Posted on 11/10/25 at 3:37 pm to Man4others
quote:
Why would I want to pay off a 5% mortgage when I can take my money, invest it and make 10%?
You're making my point. Re-read.
Posted on 11/10/25 at 4:03 pm to theballguy
quote:
15 years max and then you throw everything at the rest of it to pay it off
"rest of it" = your mortgage balance?
Posted on 11/10/25 at 4:26 pm to SDVTiger
quote:The numbers are surprisingly high, but I haven't seen that stat. Link? or hyperbole?
Not really when 97% of ppl dont make it past year 7
Posted on 11/10/25 at 6:37 pm to Man4others
I guess you didn't read my part about the 5% or less ... sigh.
Posted on 11/10/25 at 6:39 pm to AncientTiger
So you pay 5 times the price of the house ….wtf
Posted on 11/10/25 at 6:44 pm to theballguy
quote:
I'm cool with that as long as the Fed doesn't originate or guarantee those loans.
If the market wanted it and it was reasonable it would already exist. The only way this happens is with a govt backstop.
Posted on 11/10/25 at 9:35 pm to SlowFlowPro
quote:
Couldn't you take the savings from renting and use leverage with that and invest over that same time period? You can just as easily come out ahead if variance is in your favor this way, too, without the downside risk of outlier maintenance costs or the house depreciating and you being stuck in a no-equity situation for decades.
Anything is possible. Here’s a good article that wrestles with this very subject.
https://www.npr.org/2023/01/09/1147453685/house-housing-property-prices-to-buy-rent
Overall home ownership is a part of the American dream and a way of building wealth for most families.
Posted on 11/10/25 at 9:43 pm to Upperdecker
quote:
people will never build significant equity in their housing on a 50 year mortgage, unless they make it 35+ years. There will be almost no equity in the 1st 20 years. Can you imagine paying for something for 20 years and having no equity?
Equity is important, but 50 year notes wouldnt be completely worthless for home buyers. If you live in an area where rent prices are soaring, it locks in what you pay monthly.
Where it gets dicey is it would be incredibly easy for someone to go underwater on a 50 year note. If you need a 50 year mortgage, you probably aren't putting much down. The cost of PMI on that would make my first point useless
Posted on 11/10/25 at 10:08 pm to GeauxBurrow312
Buy a house stupid. Don't rent unless you have a house facing the ocean and you rent it once or twice a year..
.
This is a no brainer. Can you get burned? Maybe a little. Can you make a life changing investment? Much more likely..
.
This is a no brainer. Can you get burned? Maybe a little. Can you make a life changing investment? Much more likely..
Posted on 11/10/25 at 10:50 pm to dovehunter
quote:
This is a no brainer. Can you get burned? Maybe a little. Can you make a life changing investment? Much more likely..
If you can put enough down to not need PMI you probably arent interested in a 50 year mortgage. If you need PMI the monthly cost of owning would exceed renting.
It just doesnt work in practice
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