A proposal for a 50-year mortgage wasn’t fully vetted by top Trump administration officials and wasn’t ready to be made public, sources told CBS News.
Over the weekend, top federal housing official Bill Pulte floated the idea with President Trump, who then approved a Truth Social post.
Some Trump officials this week vented their frustration with Pulte over the move. One source said Mr. Trump was lukewarm about the suggestion but announced it “to get Pulte to shut up about it.”
It’s Trump that announced it. They should be upset with him if it wasn’t ready to be released to the public.
Longer term loans have higher interest rates to account for “duration risk” - the loan is more likely to be closed or written off during its lifetime.
The higher interest rate means the payment for a 6% 30 year loan and a 7% 50 year loan are the same. but the total interest charged is much higher, with much later accumulation of equity.
Also, the mechanism by which the United States “prints money” is by extending loans. This would represent a huge influx of cash, raising home prices even further.
Bill Pulte
Why does that name sound familiar. Please say they didn’t take the head of a home building company and put him in charge of…… looks things up … Yes, yes they did. I don’t know what I expected.
You will own nothing
and be happy.I think about this quote on a daily basis and it tears me up.
One source said Mr. Trump was lukewarm about the suggestion but announced it “to get Pulte to shut up about it.”
Hahahahahahaha
Big, strong, tough guy…
Approves shit he doesn’t want just to make someone go away.
There is a giant America shaped hole in my heart.
This made me think of this meme for some reason:
