Nov. 10 at 9:40 AM
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$KRE $XLF
A 30 year mortgage is bad enough, but a 50 year mortgage is insanity.
You buy a home at the age of 22 and when you’re dead it might be paid for.
Better yet, you buy a home when you’re 22 and when it’s finally paid for, it needs to be bulldozed.
I’ve got a better idea. Get home prices back down to where they should be and a 30 year mortgage will be all that’s require.
Homes that were
$270,000 just a few short years ago are now
$415,000-425,000
Back in 2004, homes were
$170,000 went to
$260,000
What happened then?
They fell back to
$180,000 by 2009.
So median prices are now
$415,000-
$425,000
Prices have already began to roll over.
I say we see it fall back to
$300,000-350,000
That alone is how people will be able to afford a home moving forward. Not by using a 50 year mortgage.
https://thehill.com/homenews/administration/5597005-trump-administration-50-year-mortgage/amp/
