Let’s talk about 50-year mortgages.
In my opinion, it is so obvious at this point that this administration and the ones to come want you to be a debt salve.
It needs you to pay the interest on a 50 year loan so the system has a steady stream of interest income to reduce the risk of liquidity shortages.
Instead of adopting sound money policy, those in power would rather implement and offer a high interest product to people who are living month to month and desperate to stake their claim in the idea of the American Dream, which to be honest, died a long time ago.
And it will work because these same people haven’t woken up to the horrors of debt and the reality that the home they pay monthly for will never truly be theirs. Not in 30 years. Not in 50 years. Never.
50-year mortgages are a short term win for the people.
The real winners are the banks and mortgage lenders.
