50 years is a long time and conditions are more likely to change. Inflation ramps up and banks start failing because of all the outstanding low interest long term loans. Or Property values plummet due to crazy increases in high property tax or any other reason and people just walk away from their obligation sticking the bank.

Because when banks get in financial trouble we the people seem to be the ones that have to bail them out.

Is this anything like Harry Reid and his mortgage plans that worked out so well?

If your finances are such that the difference in payments between the 30- and 50-year makes all the difference for you, then they are too precarious to buy a house. What are you going to do when it needs repairs? How will you afford to unclog a toilet, let alone replace appliances or a roof? Repair or replace your car? Neither last 30 years, let alone 50. No wonder so many people bailed in 2008.

^^^^ Truth!

quote:

Originally posted by ridewv:
50 years is a long time and conditions are more likely to change. Inflation ramps up and banks start failing because of all the outstanding low interest long term loans. Or Property values plummet due to crazy increases in high property tax or any other reason and people just walk away from their obligation sticking the bank.

Because when banks get in financial trouble we the people seem to be the ones that have to bail them out.

Yes, bailing out the banks is the problem here.
With a 50-year mortgage you don't build much equity, making it easy to get upside down. In a downturn people walk away from upside down loans leaving banks with the problem. When enough banks have a problem, we all have a problem.

Attempting to predict what the world will look like in 50 years, it makes me wonder how things were ever thought to be stable enough to consider 30 year mortgages. I would think that the risk involved in a 50 year mortgage would require higher down payments that would remove most of the advantage of the lower payment incentive.

Many professions like teaching have normal working periods of 25-30 years, hard to imagine your mortgage term is 20-25 years longer than your career lifespan.

quote:

Originally posted by Sig2340:

quote:

Originally posted by Pipe Smoker:
President Trump is having a big effect on the MSM!

“BBC director general Tim Davie and CEO of News Deborah Turness resign over Trump documentary edit


It comes after the Telegraph published details of a leaked internal BBC memo suggesting Panorama edited two parts of Trump's speech together so he appeared to explicitly encourage the Capitol Hill riots of January 2021


In a statement, Davie says: "There have been some mistakes made and as director general I have to take ultimate responsibility"


The leaked memo came from Michael Prescott, a former independent external adviser to the broadcaster's editorial standards committee. He left the role in June


Davie's departure after five years as boss follows other separate BBC controversies in recent months, including of its Glastonbury coverage. …”

BBC article

Can’t copy the link. Apparently the BBC doesn’t want it copied.
See my previous post about this above.

It is a far bigger scandal than the doctored video of President Trump.

There was an LGBTQ#!_$@GNWEOFWIR)#@ desk that refused to air any material, including coming from the Tavistock Scandal that was ignored and allowed to be fully biased in its coverage.

There was an internal report on the efforts to silence conservative voices that was ignored.


ALL of this comes from leaked internal BBC documents.

Apparently, the same show (BBC Panaorama) faked a claim that Elon Musk doesn't want to stop things like child exploitation on Twitter/X.



Elon will sue.

Looks like the Left (now that the Dems caved on the gov shutdown and lost) has pivoted back to this Jeffrey Epstein files BS and are trying to "get" Trump again but it's already backfiring on them LOL:

New media attack says Trump "knew" about Epstein's underage girls, but they conveniently forgot to mention one important detail

Trump literally told them to stop recruiting girls for prostitution and kicked Epstein and Maxwell out of Mar-a-Lago BECAUSE he knew they were creepy pedos. He KNEW and then DID something about it.

https://x.com/BreitbartNews/st...634100010209467?s=20

MAGA dies by a thousand cuts
By Olivia Murray

I didn’t vote for 50-year mortgages. I don’t want to spend half a century just paying off a modest house, forking over hundreds of thousands of extra dollars in interest alone.

So after 50 years, you might finally have your house in your name. What happens when property taxes price you out of that home, assuming you can even afford 50 years of property tax increases? Consider that in just 13 years (between 1980 and 1993), property taxes rose a whopping 62% in after-inflation dollars for Americans. Between last year and now, property taxes nationwide rose 3%. If that trend holds exactly the same (impossible as long as debt goes up and money keeps getting inflated), that’s an astronomical increase over the next half-century. As of 2024, the average property tax bill for a single-family home in the U.S. was right around $4,712. At a 3% interest increase each year, that means in 50 years, that yearly property tax bill will be $20,656.97.

Quite the spokesman for the “You will own nothing and be happy” World Economic Forum campaign.

(more... )
https://www.americanthinker.co...a_thousand_cuts.html

quote:

Originally posted by chellim1:
MAGA dies by a thousand cuts
By Olivia Murray

I didn’t vote for 50-year mortgages. I don’t want to spend half a century just paying off a modest house, forking over hundreds of thousands of extra dollars in interest alone.

Easy peasy Olivia, don't take out a 50 year mortgage. Take 15, 20, or 30 year mortgage instead. It's not rocket science.

Again... no one is forcing anyone to take a 50-year mortgage. It is an option and there may be very few takers.

Just like you can now get an 8-year car loan. Most will never need a loan that long, but for some it may make sense as they are trying to establish themselves. Same goes for paying the minimum monthly credit card payment on a $10,000 credit card bill.

If you do not want to use these products, then don't.

Let's move on... this is a big nothing-burger as these 50-year loans are not even available yet. It was one idea that has been floated to make home ownership easier for some to get into.

quote:

Originally posted by bozman:
Let's move on... this is a big nothing-burger as these 50-year loans are not even available yet. It was one idea that has been floated to make home ownership easier for some to get into.

+1

There are already backroom discussions for 50 year Treasury bonds so a 50 year mortgage is probably laying the groundwork for acceptance of them.

https://x.com/townhallcom/stat...in-illinois-n2666356



Were not enough people raped or murdered, or what?

^^^ maybe this will be the point when Trump’s admin begins ignoring these activist judges.

Judges should t be weighing in on anything that doesn’t come up on their calendars.

Time to give the middle finger to these sons of bitches. What are they going to do? What can they do? Send harshly worded letters admonishing the administration…

quote:

Originally posted by 12131:
Time to give the middle finger to these sons of bitches. What are they going to do? What can they do? Send harshly worded letters admonishing the administration…

Thank you sir. My thoughts on this were less suitable for publication.

quote:

Originally posted by slosig:

quote:

Originally posted by 12131:
Time to give the middle finger to these sons of bitches. What are they going to do? What can they do? Send harshly worded letters admonishing the administration…

Thank you sir. My thoughts on this were less suitable for publication.

Right there with you both.
These judges who think their word is God need to be swept aside and ignored.
I imagine the current administration thinking, “Ohh…geez! Another letter! How should we tell them to shove it this time?”
My advice, (not that it means a damn) is don’t even go as far as acknowledging it until SCOTUS steps in.
Make the dipshits stamp their feet and scream into the wind!

The best way to stop this extremism is to have the Feds look into the background of these whack job judges. Follow the money. Bring the indictments.
They would have to take a good, hard look at your decisions before making them if they knew it would lead to an investigation.
More than likely, an investigation would reveal who's buying them.

Once again, what part of ILLEGALLY being in this country do all of these IDIOTS not understand? That means they are a CRIMINAL. The indoctrinated useful idiots are one thing, having been groomed through grade school until graduation by demented teachers with agendas, but supposedly college educated lawyers and judges should be able to grasp the concept that these people should not be here. After that many years of education and proof of knowledge in examinations, those folks with agendas contrary to our laws should immediately lose their license to practice law or pass judgement and be disbarred permanently.