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re: Trump promoting a 50 year mortgage. Dave Ramsey will lose his mind. Terrible idea - imo
Posted on 11/8/25 at 5:24 pm to NC_Tigah
Posted on 11/8/25 at 5:24 pm to NC_Tigah
Look the best day to buy a house and lock in a long term loan commitment is today. The next least expensive day is tomorrow. People who are against this don't understand that almost nobody buys a house lives there 30 years and retires the mortgage.
Young people need to get into a house as soon as they can and bet on price appreciation. What's the alternative? You are better off with a 50 year mortgage than renting..
Young people need to get into a house as soon as they can and bet on price appreciation. What's the alternative? You are better off with a 50 year mortgage than renting..
3
Posted on 11/8/25 at 5:25 pm to SDVTiger
quote:Yes to the former, as long as prices hold! If we create/enable a bubble, we've creamed "ppl" we intended to help.
So do we want ppl to buy homes or do we not since you think it will matter
Posted on 11/8/25 at 5:25 pm to deltaland
So better to rent with that increasing up to 10% per year with no benefit cause muh 50yr mortgage
Its the TDS from this board thats amazing. Dudes trying to male something happen and the low Iqs just cry avout it
Then they would also cry hes not doing anything
Its truly amazing
Its the TDS from this board thats amazing. Dudes trying to male something happen and the low Iqs just cry avout it
Then they would also cry hes not doing anything
Its truly amazing
Posted on 11/8/25 at 5:27 pm to dovehunter
quote:100% !
Look the best day to buy a house and lock in a long term loan commitment is today. The next least expensive day is tomorrow. People who are against this don't understand that almost nobody buys a house lives there 30 years and retires the mortgage.
Posted on 11/8/25 at 5:28 pm to NC_Tigah
quote:I would never do it but now a days, a $40K vehicle (is what it should be) now costs $70K. It's stupid but I see $70-80K Tahoes and Yukons driven by 30 y/o women (ladies) that are probably stay at home soccer moms. Incredible how much debt these people must carry.
Serious question ... why in the present world of 72 MONTH AUTO LOANS ... would you pose such a stupid question?
Posted on 11/8/25 at 5:28 pm to SDVTiger
quote:I think you're missing the point
So better to rent
Posted on 11/8/25 at 5:31 pm to dovehunter
Another way to look at this. Interest rates go up you are bowering at below market rates. They go way up you are looking real smart. The rates go down? You refinance and you save enough money to pay extra on your mortgage making it a 30 year payout. The rates go way down like they did 10 years ago you refinance again and take the savings and invest at 3X's your rate.
The new homebuyers need to get into the game. Otherwise they will never enjoy what has historically been one of the best investments known to man. Home ownership.
The new homebuyers need to get into the game. Otherwise they will never enjoy what has historically been one of the best investments known to man. Home ownership.
Posted on 11/8/25 at 5:32 pm to Diamondawg
quote:In automotive terms, it's heavily depreciating debt at that ... by definition.
Incredible how much debt these people must carry.
This post was edited on 11/8/25 at 5:34 pm
Posted on 11/8/25 at 5:36 pm to NC_Tigah
quote:
I think you're missing the point
Now you are catching on.
Posted on 11/8/25 at 5:38 pm to NC_Tigah
quote:
I think you're missing the point
Whats the point im missing?
Values arent holding ever
Posted on 11/8/25 at 5:41 pm to roadGator
Financing a depreciating asset isn't real smart. In fact it's financial suicide. You really shouldn't buy a new car unless you have the cash to pay for it..
Posted on 11/8/25 at 5:42 pm to dovehunter
You should probably never buy a new car period.
Posted on 11/8/25 at 5:43 pm to dovehunter
quote:
Look the best day to buy a house and lock in a long term loan commitment is today. The next least expensive day is tomorrow. People who are against this don't understand that almost nobody buys a house lives there 30 years and retires the mortgage.
It's situational and local
Posted on 11/8/25 at 5:45 pm to NC_Tigah
quote:I didn't finance it but I kept a 5th wheel RV way too long. Nothing is wrong it (much) but it's worth 1/10 of what it cost in 2012. I wanted something newer and lighter.
In automotive terms, it's heavily depreciating debt at that ... by definition.
I was shocked when they made the offer.
Posted on 11/8/25 at 5:47 pm to Diamondawg
The 50 year mortgage only saved you a couple hundred on a 300000 mortgage. That is not enough of a difference to make it more affordable
Posted on 11/8/25 at 5:48 pm to SDVTiger
quote:I had a 30 year fixed that I paid off in 12. I paid the minimum due every month, but my bonus ever year was dumped into principle.
Lets stop pretending anyone pays off a home now with a 30yr fix
Posted on 11/8/25 at 5:50 pm to SDVTiger
quote:You're missing this as an ROI equation.
Whats the point im missing?
You're missing that investability means some assets decrease disproportionate to others
This post was edited on 11/8/25 at 5:52 pm
Posted on 11/8/25 at 5:51 pm to AncientTiger
I don't agree with it but this is being seen more in Europe and also Japan.
It basically solidifies a "family home" and people can/will pass a mortgage on to children rather than a paid off house. Houses being passed on is only really a 2 generation thing so it isn't considered the biggest issue.
Having said that, had every intention of paying my first mortgage off in 17 years...but we are upsizing in a couple of weeks and years are being added to make it affordable
It basically solidifies a "family home" and people can/will pass a mortgage on to children rather than a paid off house. Houses being passed on is only really a 2 generation thing so it isn't considered the biggest issue.
Having said that, had every intention of paying my first mortgage off in 17 years...but we are upsizing in a couple of weeks and years are being added to make it affordable
Posted on 11/8/25 at 5:52 pm to AncientTiger
Get those rates back in the 3’s you’d be a fool not to take a 50 year
Posted on 11/8/25 at 5:57 pm to AncientTiger
It’s a terrible idea if you want to pay it off while you are old enough to enjoy it. It’s a great idea for a starter home or if you are using it for rental or income purposes
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