The government is now floating the idea of 40- and even 50-year mortgages–because housing has become so expensive that people literally can’t afford traditional loans anymore.
But here’s the truth: a 50-year mortgage means you’re basically renting from the bank for decades, while still paying for repairs, taxes, and maintenance. No private lender would ever touch these loans without a government guarantee.
Is this really “helping” home-buyers… or trapping them?
#housingmarket #mortgagecrisis #economy #realestate #inflation #financialeducation #PeterSchiff #short
