(11-13-2025, 07:09 PM)JimmyinSD Wrote: There is no reason homes that aren't owner occupied aren't taxed at a significantly higher level.  Make an exception for a 2nd home st the lake or whatever,  but I agree,  there needs to be a financial deterrent to people buying up housing.  

However,  if people aren't smart enough to protect themselves,  there is very little we can do to help them without creating other issues.  It's a free country and if somebody allows themselves to get duped then I guess its unfortunate.   I would make the exception for minors mentally disabled, and elderly.

I just dont see how in a free market free country you can place enough safeguards without either being called discriminatory or other.  Seems to me there used to be more protections in place,  but those were deemed racist or other because low income people couldn't qualify and often those low income people were of other minority statuses.

Edit:  and homes used as air bnb/ vacation rentals/ etc....definitely at much higher levels,  really shouldn't be allowed as they are then more of a commercial property and are zoning law violations in most cases.

(11-14-2025, 11:55 AM)badgervike Wrote: IF the payments on a 50 year loan are significantly lower than a 30 year loan than it makes some sense to use the lower payments to build some wealth.  If the difference is negligible, than it doesn't.  

Quote:After 10 years, this is the amount of equity you would have in the home for each mortgage duration:

• 30 year: $81,571
  
• 50 year: $21,636
  

This is the biggest problem people have with a 50 year mortgage. You don’t really build any equity outside of home price growth.
Source: The Economics of a 50 Year Mortgage

Quote:The real drawback comes from how slowly you build home equity. Because more of each payment goes toward interest—and does so for decades—it takes much longer to make progress on the principal....
...“The drawbacks are that a 50-year mortgage results in almost double the interest payments of a 30-year mortgage and a longer path to meaningful home equity,” Realtor.com Senior Economist Joel Berner said.
Source: 

Quote:Sensible Mortgage Advice
For now, the most reliable rule of thumb in personal finance remains: shorter fixed terms and larger down payments build wealth faster — unless future home-price appreciation persistently and substantially exceeds the mortgage rate, an assumption no household can guarantee or hedge against. Fifty-year mortgages carry many risks — as does borrowing over any extended period.
Source: Trump’s 50-Year Mortgage: Lower Payments, Higher Lifetime Cost

(11-14-2025, 04:52 PM)mblack Wrote: A mere google would give you the answer to this. It has been pointed out already on this thread.
The monthly payment is a bit lower but you are paying 95% on interest vs 83% on a 30 year which already sucks.
All the other stuff you say is wishful thinking based on what ifs.
You keep touting refinancing after 10 years and building equity...

another...

But again you would rather talk about IF, MIGHT and CERTAIN SITUATIONS and refinancing. How many times does the average American need to be screwed over or burdened with paper work and uncertainty?
This again is not a solution. It is a terrible idea regardless of where it is coming from.

Lastly, 

(11-14-2025, 06:54 PM)Waterboy Wrote: Per your logic, why offer a 30 yr mortgage?

(11-14-2025, 08:26 PM)mblack Wrote: Thats what you deduced from my post? Interesting!
Anyway, the 30 year mortgage already exists. It’s not great but it’s tolerable and already too much for the everyday American. It’s already hard paying that off.  

Even then, from a home equity standpoint, in a 10 year span no one in their right mind (I know opinions on this thread make me wonder) would pick a 50 term over a 30 year term. That begs the question… of what use is a 50 year term and who really stands to benefit from it?

As a reminder, the issue under discussion is that someone is adding a 50 year mortgage and lying that it fixes the housing problem. The point of government is to help people not see how much they can tolerate and how miserable and uncertain we can make their lives. Thats what this 50 year idea does.

If you read my post you’d see I have stated that the 30 year option is not great. This 50 year option makes a bad situation worse and largely benefits the rich who don’t have to do anything and does close to nothing to the common man (unless they jump through all types of hoops to have a near fighting chance of benefiting from it)

I tried providing different view points from public literature but I am not surprised you skipped all the literature and just moved the goal post. 

This is becoming a pointless conversation since facts and options by qualified professionals don’t matter so I’ll exit and leave you to it. What a world we live in!

(11-14-2025, 08:26 PM)mblack Wrote: Thats what you deduced from my post? Interesting!
Anyway, the 30 year mortgage already exists. It’s not great but it’s tolerable and already too much for the everyday American. It’s already hard paying that off.  

Even then, from a home equity standpoint, in a 10 year span no one in their right mind (I know opinions on this thread make me wonder) would pick a 50 term over a 30 year term. That begs the question… of what use is a 50 year term and who really stands to benefit from it?

As a reminder, the issue under discussion is that someone is adding a 50 year mortgage and lying that it fixes the housing problem. The point of government is to help people not see how much they can tolerate and how miserable and uncertain we can make their lives. Thats what this 50 year idea does.

If you read my post you’d see I have stated that the 30 year option is not great. This 50 year option makes a bad situation worse and largely benefits the rich who don’t have to do anything and does close to nothing to the common man (unless they jump through all types of hoops to have a near fighting chance of benefiting from it)

I tried providing different view points from public literature but I am not surprised you skipped all the literature and just moved the goal post. 

This is becoming a pointless conversation since facts and options by qualified professionals don’t matter so I’ll exit and leave you to it. What a world we live in!

(11-14-2025, 08:26 PM)mblack Wrote: This is becoming a pointless conversation since facts and options by qualified professionals don’t matter so I’ll exit and leave you to it. What a world we live in!

(11-15-2025, 04:44 AM)StickierBuns Wrote: You finally got there, my friend. Its pointless. Your patience is admirable. Its hard dealing with the brainwashed.