i wish i could have been in the room when they were brainstorming how to solve the housing crisis and someone raised their hand and said "what about 50 year mortgages?"
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i honestly laugh every time i think about it
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Could have been a 10 year old.
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The child sex trafficking bankers were there in our place.
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They are so out of touch with reality. 🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️
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And blame it on the “illegals, you know, the ones eating the cats and dogs.”
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THE $315 BILLION that Trump/Miller/GOP plan to spend building Prisons to destroy the lives of millions of innocent immigrant working families, would be MORE than enough to literally build a home for EVERY homeless person in USA, with enough left over to END POVERTY or establish UNIVERSAL HEALTHCARE!
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Derek - this program may interest you. bsky.app/profile/bria...
I'd also like to see news orgs cover walkable neighborhoods, including how municipal infill & mixed-use neighborhoods improve quality of life and a city's tax base, and how suburban sprawl can bankrupt cities & wreck wildlife habitats.
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In the U.S., people are locked into the same rate for decades and may not renew their mortgage at all during that time period, Graham says, while in Canada, a mortgage holder is likely going to renew their mortgage three or four times over a 25 or 30-year period. www.cbc.ca/news/world/t...
Donald Trump’s 50-year mortgage plan is getting panned. It also wouldn’t fly in Canada | CBC News
Many industry observers have been cool to Donald Trump’s proposal to allow 50-year mortgages in the United States. And it’s very unlikely such an idea would gain traction anytime soon in Canada, where...
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They could have called them “intergenerational mortgages” and then the sky’s the limit. Why not 100 years? Time to start that family.
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When you view this administration through the right lens - unlimited enrichment of the wealthy - everything they do makes perfect sense.
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It's paying rent, but you're also fully responsible for all maintenance, repairs and replacement. Most will never pay off these mortgages, and equity will be small and not come for 20-30 years. Steer clear of this scam if it materializes.
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"We've stagnated wages for so long, and hoarded housing with private equity, it's the only chance they'll have."
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Wasn't there an incident where one of Putin's incompetent cronies suggested exporting ham to Indonesia? Because Muslim countries buy tons of ham.
Governments full of toadying yes-men are not built to solve problems with good ideas.
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Brainstorming is a strong word 🤣🤣🤣
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Slavery in the new Golden Age.
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Conversation was more likely, how can we further fleece the home buying public, and still call it mortgage relief?
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Did you say “brainstorming”?😒
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1 million years mortgage ah ah ahh!
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No corporate ownership of existing housing stock. They can own what they build.
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Make it illegal for hedge funds & large corporations from owning single family housing. Drive up prices outbidding families, use AI & collusion to "maximize" rents, & withhold inventory to artificially increase them as well. There's 14M empty housing units in the US. We're fish in a barrel
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And there I was in Europe (unnamed country decades ago) - getting my first place. They wanted a 40% down and it was a 10 year mortgage! It was cheaper to buy than rent if you could put together the down payment
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MMW- 50% interest no credit required cards will be announced next.
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There never was any "room when they were brainstorming how to solve the housing crisis..."
There never was any "room when they were brainstorming how to solve" ANYTHING.
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Average 1st time home buyer age is 40. Buying a $250K home on a 50-year mortgage would pay until age 90. With interest around 6.5%, the monthly payment looks small, but the total paid is roughly $870K. It shows how long loans lower payments but massively inflate lifetime cost. Pure jackassery.
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How about...Elon Musk paying more than 4.6bn on 400bn - even 25% FFS - and using the 100bn to house every homeless person in America...for a start.
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If you like 50 year mortgages, you'll LOVE 100 year mortgages.
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Bill Pulte, of ya know, those shitty cookie cutter Pulte Home communities. Also...
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Leave your debts to your children, just like the same twisted thinkers are leaving a broken climate to theirs.
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Has to be a used car salesman that first asked, how much do you want to pay a month
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I wish I was there as well because when someone suggested 50 year mortgages, I would have said: Why not 75 years?
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Why stop at 50 year mortgages when leasehold already lets you pay forever? Just abolish leasehold and its mystery fees.
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Apparently we can’t joke about woodchippers anymore, but perhaps pantsing and chasing out of the building with whiffle bats?
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50 year mortgages results in more profit for banks and, ultimately, outright ownership of a house you've paid on every month your entire adult life. This is just another scam to make the wealthy even wealthier. Fuck them.
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Brainstorming? Don’t they need to have brains to do that?
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They thought, we’re gonna make a killing, because a lot of Americans are not educated!!!!
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A 50 year mortgage and you can grow your own food and raise hens and eggs and we'll be taking half of them. In other words serfdom!!
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Indentured servitude was taken.
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Yup. I was there. Changing diapers and poop bag ports. These fools
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Do you think it was the same person who said that NOBODY knows about MAGNETS!?!? 😜
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There are so many ways our feds could put our taxpayer dollars into goid use to subsidize important needs etc
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How about a completely subsidized housing like a section 8 sort of thing when a person pays a percentage according to the income and allow the feds to use taxpayer money for more useful.purposes while getting the greed out of politics and into investing. It into we the people for housing needs. Etc
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Ha, no one said that. They said, "ya know pay day loans, loan sharks? what if we could do predatory lending like that except for the entire real estate market and the government will guarantee all the defaults, then we could buy up the foreclosures cheap and repeat!"
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That’s like renting except you have to fix anything that breaks
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They were trying to find a way to get home sale prices back up without lowering interest rates bc baby boomers are getting pissed
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When Miller pipes up with ‘No 7 year old illegal qualifies’ would be fun
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More like “how do we look like we are solving the housing crisis but not really?”
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Trump tricked into backing 50-year mortgages, advisers say: President says it’s not ‘a big deal’
An unnamed White House official said the housing official who briefed Trump was "publicly humiliating the president."
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I'm glad I wasn't, because I'd have been chucked out right after shouting "Are you out of your ever-loving MINDS?! What is WRONG with you people?!!!"
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- Hahahaha
- And fewer regulations for big banks!
- Hahahahahaha!!
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"Yeahhhh you might be onto something, Pulte!"
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You just know that suggestion came from a home developer/Pulte.
Probably why Dickhead wants to open a financial institution, so he can take a cut of very loan. We’re becoming a company country.
Trumplandia.
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"50 year mortgages" is the right's equivalent to "you will own nothing and be nothing" leftists. I refuse both
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Anyone who’s travelled to Switzerland would know that this is common place there. It’s not a “way out of the realm of possibility” idea.
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Instead of a bank account toaster, they going to offer a 50 year mortgage medbed special
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I don't know... With this administration, they probably went "Mr president, what do YOU think? We don't have opinions without checking in with you first"
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Ah yes, the classic “We can’t share anything because now we’re investigating the thing we said didn’t need investigating.” Totally normal government behavior.
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Why not 150yr mortgages? According to BROWN STAIN PEOPLE LIVE THAT LONG And longer because he doesn’t know how social security keeps records. Or how any agency keeps records. It’s true because he said so. The cult says turtles live that long why not people. Give turtles 50yr mortgages.
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Their brilliance shows through every single day.
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My response to a 50 year mortgage is are you fucking kidding me?
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Valuation is based on sales comps which are based on demand which is based on rates and term which are based on valuation.
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Someone who bought their home the day the Edmund Fitzgerald sank would have celebrated their last mortgage payment this week!
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And this, apparently, is there best idea.
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Hassett hasn’t a clue about data, so maybe him
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It could work for the very young & the very old. The young raising babies, working & sometimes trying to get a college degree, will benefit with lower monthly pmts. Once he or she gets a better job can refinance for a 15 yrs loan The very old will pay lower pmts & who inherits the house will sell it
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it's worse
It was a surprise visit by federal Housing Finance Agency Director Bill Pulte, with a 3'x5' pasteboard at Mar-a-lago. He even posted a picture of it on his socials
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the literal answer is some guy made this picture and showed it to Trump:
assets.inman.com/wp-content/u...
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Is the housing crisis that house prices aren't inflated enough?
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The room has a lot of hideous gold and is kinda gross at this point.
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Not one person should miss the fact that the "Real Estate Mogul" president has never, in his entire Presidential Career, broke ground on housing for Americans.
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I wonder if any private equity firms were in that room since they’re buying up all the affordable homes for sale with cash.
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The “value” of the land our house sits on has tripled since we bought it. The house has depreciated 40%. It’s not a housing crisis. It’s an overpriced land price market crisis.
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bill pulte
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I don’t think there could be a brain storm in this administration.
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I gotta admit, THIS is an idea I truly think Krasnov came up with. Removing the war memorial from a Netherlands cemetery, that’s 100% Hegseth’s Klan spasm.
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Also, I wonder what the reaction was to the person who said 'build more homes'
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Spit take.
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I would have immediately screamed: 60 year mortgages!
Proving my superiority and intelligence
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A Nutlick idea for sure
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why stop at 50? Why not 100?
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At a certain point it is just renting, and the bank is your landlord. That point, probably short of the 50-year mark they settled on.
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Trumpstein has signed 60-100 leases forever then acted like it’s “his property” He did it at the Post Office in DC! Where all the Russians lived during the 2016 election!
When I heard Trumpsteins 50ARM idea I immediately thought holy shit 😂
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Worse than saying it initially is accepting that idea as a path forward.
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Why didn't they just say 'what about company towns?'
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What about poor houses?
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They’re not trying to solve the housing crisis.
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You think brains were used?
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I've already seen realtors saying .. what a great idea to lower your payment
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Now we know why Trump declared bankruptcy 6 times.
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No doubt the idea for 50-year mortgages was said in nearly the same breath as "Let's blame it all on illegal immigrants! Like we do everything else we have no defense for."
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"50 year mortgage"? so like rent but if you end up not being able to pay at some point the bank takes everything you own?
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None of the comments point out the obvious here. A 50 year mortgage will allow more folks to qualify as it slightly reduces the monthly payment. Not idiocy as many are suggesting, but also not the best solution to the housing crisis. ....and, the idea for a 50 year mortgage is not new.
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You mean Bill Pulte?
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It’s probably just a bunch of business CEO Trump loyalists making 6.666% more than their employees - iow not a benevolent brain trust or anyone w any expertise, they could conceive of a ’solution’ that doesn’t profit them
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It has this energy theonion.com/fuck-everyth...
Fuck Everything, We're Doing Five Blades
Would someone tell me how this happened? We were the fucking vanguard of shaving in this country. The Gillette Mach3 was the razor to own. Then the other guy came out with a three-blade razor. Were we...
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As if they’d ever want to solve the housing crisis. Or any crisis.
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50 years. Insane Only under Trump
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The room is filled with people who have made fortunes with predatory loans. They cheered.
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Perhaps reframe the problem. “How can we make sure we keep making money in a housing crisis?” Then it makes sense.
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OK but imagine how it smelled in there
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🤢
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The solution is wasy a martialbplan to build 4 million homes
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50 years......even if your 18 when you start that leaves you at 68 when paid off
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Horrific idea!
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It could make sense if you expect average inflation over the term of the loan to reduce the real interest rate to near zero... Otherwise, LOL
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Honestly I will likely have been paying mortgages for nearly that long by the time I'm done.
I had one fifteen minute, forty dollar stop at a blackjack table and it was enough for me to learn I am deeply appalled by gambling, but I have committed to a lifelong bet that houses will outrun interest.
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It’s great, you’ll own your home free and clear when you’re 80!
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Without healthcare, most people don't have another 50 years to live. It's just another way for the rich to take the poor's property.
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Confident it was a banker trying to feather their greedy nest.
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I wish I was there when the next one, jealous of the applause, raised to "what about 100?" and was taken down... 😒
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It will match the actual time it takes people to pay off the payday loans they like to market to the poor.
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Your first mistake was assuming they were trying to solve the housing crisis, they were trying to make it worse.
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It doesn't solve housing. It solves "how can banks get more money from people for an even longer time?"
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Oh yeah… 50 year mortgages… that seems like it happened 50 years ago.
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😂😂😂😂😂😂
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Not to mention that they're also doing everything possible to lower average life expectancy.
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Me in the way back, "How about 52?"
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That woulda been a memory to keep forever
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A confederacy of dunces says what?
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You would have seen fat cats clapping the guy on the back, handing him a cigar, and giving him a bonus at year's end.
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I feel like a more simple solution would be to stop letting all these corporations buy up all the housing
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"Would you like a side of house with your interest payments?"
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They were like, "okay, everyone loved paying for their house twice. They would definitely love it if they could pay for their house 3 times!"
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Corporations don't want you to own anything, they want you to pay them forever.
That's why they're so eager to go streaming services, cloud based software models, 50 year mortgages...
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nope, whatever they got may be contagious. worms jump, batshit spreads, some of them ARE the aliens. dunno but I don't want to be anywhere near 'em.
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Indivisible2026.org is working on the Primaries and Tennessee's 7th District election in December. They are asking for volunteers to phone bank and/or donate. It's going to take a bunch of us sane folk to right this wrong. Please help if you can. This insanity is unsustainable. #Nope
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and the guy who suggested it is this 37-year-old
Exclusive | Fannie Mae Watchdogs Probed How Pulte Obtained Mortgage Records of Key Democrats
FHFA’s acting inspector general handed the probe report to the U.S. attorney office that had indicted New York Attorney General Letitia James.
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Why stop at 50? If we're talking about perpetual financial servitude, why not just make it 70, 80, or 100? Leave your kids a big juicy debt instead of an inheritance. That should keep them too busy to complain about billionaires
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What does one wear for a night in the Room Where It Happened? What doesn't clash with Clown Shoes?
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No brainstorm, just Pulte having a few minutes with Trump.
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They were never trying to figure out how to solve the housing crisis. They were trying to figure out how to make people shut up about it
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Not surprised. We’ve always known that Repuglicans don’t want the little people to actually OWN property, right? They’re much more comfortable with us endlessly owing hundreds of thousands to banking corporations. LET US EAT CAKE!!!
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Supposedly it's some nut job who pushes them a lot and just managed to get in front of trump at maralago. Some leaks were saying they have to be careful vetting who gets to talk to trump because he gets swayed so easily and believes everything.
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Reminds me of the SNL skit where the loser GOP team is going around congratulating themselves on their bad ideas “that was a good call”
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Someone - 'Write that down' !
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seems the room that happened in was bill pulte's skull cavity which is very sparsely furnished
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“Can we make mortgages like life insurance?”
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Recent reports show that the median home buyer is 56. Fcking genii /s
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That means they’ll probably change the law so your debt will pass down to your kids, even if they didn’t sign on to accept it.
Come to think of it, it’s also a perfect way to encourage people to have more kids. The more children you have, the more you can borrow - forever!
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Leave it to a rich new home builder to come up with that one. Oh! He did!
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Shit, why not 100 year mortgages?
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🙄
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When half the population is single and 39% have children, there shouldn't be a housing shortage. The problem is that there's an affordability shortage b/c folks failed to keep Unions and they let corporations run them over for 50 years and buy up the housing stock to rent at HIGH prices.
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Apparently it was one guy who just gave an enthusiastic elevator pitch
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I like to think the idea was actually 100 year mortgages but they established 50 as a reasonable compromise amongst the stakeholders
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Financial experts now advise people to start building their FICO credit scores at birth if they are planning to purchase a home in the future.
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can't wait for 50 year adjustable rate mortgages
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Ah, it's open season here my friend It always is; it always has been Welcome, welcome to the U.S.A We're partying fools in the autumn of our heyday And though we're running out of everything We can't afford to quit Before this binge is over We've got to squeeze off one more hit We're workin' it
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Any other solution is going to cut into their profit margins, sooooo
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If they can't profit off it, there's no solution
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Sheer stupidity
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I found footage.
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Not much better than $25k for NEW homeowners. How about we jsut take mortgages off the stock market? That’s what fucked it all up to start with! But NEITHER side wants that…
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I’m not sure the meeting was about how to solve the housing crisis.
I suspect it was about how to make more money off of the housing crisis.
Making money off a crisis is a more capitalist approach to a crisis than solving it.
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Saint Peter don’t you call me because I can’t go I owe my soul to the company store!
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Lets hope they dont go full China and offer 100yr ones.
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What’s joke,50 year mortgage isstupid.
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What about foreign cash buyers and private equity funds and Vance’s property buyers destroying traditional real estate mkts? Anybody ask about that?
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“What if we bring back debtors prisons?”
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What about indentured servitude?
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like a Gillette exec saying "fuck five, we're doing SEVEN blades"
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It already exists. It's called rent.
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How long do the proles live? 90, 100 years right??
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That “someone” has a name you know: ChatGPT 4.0
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This is a prime example of how ignorant they know their base is….
The uneducated
As for the rest of us we all knew instantly what a scam that is
All though I’m 60 and looking to by a second home
I gotta do the math,could work for me since at best I have abt 20yrs left in me
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Pulte
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"Graduation, 50 year mortgage."
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A hushed silence looms in the gloomy chamber full of bankers. a voice, timid at first, peeps up above the silence.
The room waits with baited breath. The office intern, confidence building, asks the question, "have you thought of 50 year mortgages"
The room erupts in riotous applause.
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If they come with an immortality pill, sure.
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Why did they stop at 50 years? Donald could have made housing 1200%, even 1500% cheaper!
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From the jump mortgage was a bad idea. Literally has the root word for death in it.
“Pay until you die”.
It’s a sign of how much housing has gone up. Any wonder the median age is now 59.
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A way that banks and billionaires continue to enrich themselves on the backs of middle America.
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Yeah, idiots, right?
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If there had been a room with “brainstorming” going on, it would have never made it out of that room
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Some kind of recreational pharmaceuticals were likely involved is my guess
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It's like signing a 50 year triple net lease with a bank.
The only people this benefits are realtors and mortgage brokers. (and banks, of course)
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“They will never figure it out” Evil laughing guy at the table
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"we're just spitballing here"😂
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They thought that he was raising his hand to go to the washroom, but somehow, it got on the agenda.
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Coming next in affordability: “let fathers sell their daughters into slavery. It’s in the Bible and hey Epstein proved there’s still a market.”
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Tag line...who cares if you'll have no equity at 65. You'll probably be like Trump so deep in dementia you won't even know it.
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Oh and 15 year car notes! I typically only let a car 13 years! 🤦🏾♀️🤦🏾♀️🤦🏾♀️🤦🏾♀️🤦🏾♀️ Suggestions from people who don’t have to pay 50 year mortgages and 15 year car notes
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Apparently it was simply some blagger coming to trump with a sign saying “Roosevelt -30 years Trump -50 years”. That’s all it takes
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It's simple. Take venture capital out of housing. Nobody gets to own multiple houses simply to rent them out. The cost of housing will crash of course.
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I know right ?
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The extent of the ruling class's "problem solving" skills is thinking up news ways to further indenture the working class in order to enrich the ruling class.
24 hours of absolutely no commerce;not turn on a light,every single person stays put kind of no commerce would put a crimp in their plans.
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Chuck Woolery would have sold the fuck out of them
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It was right before the dude who said “we could build affordable housing in walkable neighborhoods” got thrown out the window
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Same team that developed student loan packages.
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"How do we cure this man's Alzheimer's?"
"Give him heart disease."
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It's basically a con job. Many dupes will applaud it.
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yeah they jumped all over that. it's a denial of ownership to hard working people and they love that.
fuck the oligarchy.
