If they want to encourage young home buyers they are better off doing a federal backed PMI program through Fannie for dirt cheap or free PMI for first time home buyers with a 5% or better down payment.

i’ve seen reports showing 1/3rd of all home sales in the US are by institutional investors, thus diminishing supply, jacking up prices, and turning potential buyers into renters. Shifting to 50 year mortgages is going to continue to artificially increase prices & deprive home buyers of ever generating equity. Why not just impose limits on institutional investors?

A Mensa sighting!

They're showing Trump's interview with Laura Ingraham tonight.

On the 50-year-mortgage, it wasn't Trump's idea, and he has no clue what he's talking about.

Trump says the idea came from someone in the Treasury Department, but he didn't name them.

Also, when Ingraham mentioned that lots of Repubs are firmly against this idea, Trump brushed it off, saying it's not a big deal, that they give out 40 year mortgages now.

When Ingraham corrected him and said, "No, it's 30-year," Trump said, "Well, it's no big deal."

THAT was his argument, lol. He had zero clue about any details before he popped off and made it a national issue of concern.

What a doofus.

Interview just finished. TBF, Trump was good with everything else. Didn't even badmouth too many people, lol.

I opined about 6 pages ago he didn't come up with this half baked idea.

Honestly, if you want to spur young first time home buyers, then come up with some sort of 30 year one time FHA style reduced interest rate mortgage that after 10 years, resets to the original rate in place at the time of closing. That should be enough time for the buyer to realize substantial equity and to improve his own financial situation. Worst case, if the going interest rate at the end of 10 years is higher than the rate at the time he bought it---(and he cant afford it) he can sell the home and extract the equity. If the current rate is lower (or if a low rate period occurs anytime during that 10 year period)---he can just refinance the home to a typical 30 year fixed rate mortgage and he's just like any other home buyer who refi's his home. Either way----even in the worst case scenario----he's better off after 10 years than he would be with a 50 year mortgage.

FHA had those programs in the 90's and early 2000's.

Even came up with crazy 80/20 loans where to get around the big down payment you got a traditional 30 year for 80% LTV and a 20% second mtg to pick up the down payment. Who would have ever thought that would not work out? Many times people would make a payment and owe more that month than they did before making the payment on time...he second rate was silly.

My wife was in the mortgage biz in the 90's and the stuff the government came up with when Clinton decided he wanted home ownership at 75% of households was nutty.

(11-10-2025 07:18 PM)TripleA Wrote:  A Mensa sighting!

I’ve been a road warrior for the past few months & really haven’t dwelled much on politics. Been good for the soul.

I couldn’t believe the stat, however, of 1/3rd of US home sales and institutional investors; but the irony is I was just looking the other day on a hunting app I use called ONX, which shows property ownership, and noticed the 2 homes we previously owned & lived in Highpoint Terrace were now owned by an out-of-state investor… Lumina Holdings. They were purchased in 2024 as part of a 52 property purchase turning many desirable, affordable homes in the East Memphis/ UofM area into rentals. Highpoint & surrounding area was a great neighborhood for young professionals & young families to make their 1st home purchase but the gobbling up of these starter homes by institutional investors further pushes back their ability to purchase their 1st home. It also puts an influx of renters in neighborhoods where there previously weren’t many.

Glad to see you back. May we have debates without acrimony. We seem to have lost that since you were here last.

Good luck with that

(11-10-2025 09:00 PM)BartlettTigerFan Wrote:  Good luck with that

I was talking about with Mensa. I'm willing to try. The others I have given up on. He and I have zero history.

(11-10-2025 09:00 PM)TripleA Wrote:  

(11-10-2025 09:00 PM)BartlettTigerFan Wrote:  Good luck with that

I was talking about with Mensa. I'm willing to try. The others I have given up on. He and I have zero history.

I was also talking about Mensa.

(11-10-2025 09:11 PM)BartlettTigerFan Wrote:  

(11-10-2025 09:00 PM)TripleA Wrote:  

(11-10-2025 09:00 PM)BartlettTigerFan Wrote:  Good luck with that

I was talking about with Mensa. I'm willing to try. The others I have given up on. He and I have zero history.

I was also talking about Mensa.

We'll see, said the blind man. lol

(11-10-2025 08:51 PM)rath v2.0 Wrote:  FHA had those programs in the 90's and early 2000's.

Even came up with crazy 80/20 loans where to get around the big down payment you got a traditional 30 year for 80% LTV and a 20% second mtg to pick up the down payment. Who would have ever thought that would not work out? Many times people would make a payment and owe more that month than they did before making the payment on time...he second rate was silly.

My wife was in the mortgage biz in the 90's and the stuff the government came up with when Clinton decided he wanted home ownership at 75% of households was nutty.

I bought my first house that way. I even got a rebate which I used to buy kitchen appliances.

absolutely horrible idea.

(11-10-2025 03:39 PM)TripleA Wrote:  Who knew that Trump's idea to kick start home ownership would turn into some banking conspiracy to rob people?

If we want to kick start home ownership we'd be building more starter homes instead of more McMansions.

(11-10-2025 07:24 PM)TripleA Wrote:  They're showing Trump's interview with Laura Ingraham tonight.

On the 50-year-mortgage, it wasn't Trump's idea, and he has no clue what he's talking about.

Trump says the idea came from someone in the Treasury Department, but he didn't name them.

Also, when Ingraham mentioned that lots of Repubs are firmly against this idea, Trump brushed it off, saying it's not a big deal, that they give out 40 year mortgages now.

When Ingraham corrected him and said, "No, it's 30-year," Trump said, "Well, it's no big deal."

THAT was his argument, lol. He had zero clue about any details before he popped off and made it a national issue of concern.

What a doofus.

We have an idiot leading the country and those that voted for him should be shunned.

(11-11-2025 11:27 AM)Roxie Wrote:  

(11-10-2025 07:24 PM)TripleA Wrote:  They're showing Trump's interview with Laura Ingraham tonight.

On the 50-year-mortgage, it wasn't Trump's idea, and he has no clue what he's talking about.

Trump says the idea came from someone in the Treasury Department, but he didn't name them.

Also, when Ingraham mentioned that lots of Repubs are firmly against this idea, Trump brushed it off, saying it's not a big deal, that they give out 40 year mortgages now.

When Ingraham corrected him and said, "No, it's 30-year," Trump said, "Well, it's no big deal."

THAT was his argument, lol. He had zero clue about any details before he popped off and made it a national issue of concern.

What a doofus.

We have an idiot leading the country and those that voted for him should be shunned.

Nope. That was the last guy. Your side lost. Suck it up, buttercup. We had to when your guy "won" so you can, too. Don't like it? Tough.

Oh, and before your sorry butt responds, I have this to say: "I don't really care, Margaret." Seriously, go away.

Dave Ramsey hospitalized after learning about 50-year mortgage:

https://babylonbee.com/news/dave-ramsey-...r-mortgage