Unless you’re very young you remember the sub-prime mortgage crisis which began in 2007 under George W. Bush. Economic catastrophes always occur under Republican presidents faster than you can say Smoot Hawley, have you noticed? In all events, a small group of people made a pile of money and everybody else lost their shirts. And now we are pumped for a rinse and repeat. Can it be true?
These kinds of things happened two decades ago under the last Republican president. A lot of people made a lot of short term money. Then it all came crashing down and his successor had to clean up a huge mess. Here we go again. pic.twitter.com/BDWvQeeHEZ
— Ron Filipkowski (@RonFilipkowski) November 11, 2025
Well said. And the test will come and the system will fall down like a jenga tower and in the same time frame, a year and a half or two. But hey, Trump's in office and anything goes, right?
— Ursula Faw (@ursulafaw56) November 11, 2025
The rest of his tweet said, “The real risk isn’t just “lower standards,” it’s forgetting how to balance opportunity with accountability. If you have to reinvent risk assessment, you’d better be shockproof when the test comes.” And shock proof we are not. Not even close and not with every other economic indicator going south simultaneously.
That is seriously nuts enough but it gets worse. Donald Trump entertained the head of FHFA at his golf club and agreed to a 50-year-mortgage. Now since the average age for first time homebuyers is 40, you need to live to 90 to pay off the damn mortgage. Forget paying it off at 60 or 65, those days are gone. Daily Beast:
[Bill] Pulte showed up at Trump’s Palm Beach Golf Club with a three-by-five poster board with a graphic of former President Franklin Roosevelt with a “30-year-mortgage” and Trump with the “50-year-mortgage,” according to the report.
Just ten minutes later, Trump posted the image on Truth Social, a person who was with the president at the time told Politico.
The post featured the two presidents and their corresponding mortgages under the headline “Great American Presidents.”
Pulte also shared the image on X with the post that they were, in fact, working on a 50-year mortgage. He called it a “complete game changer.”
The response to the proposal from housing and financial experts was fast and furious.
Shark Tank’s Kevin O’Leary, a sometimes Trump ally, said he did not like the idea and that with the amount of interest being paid, a person would never own the home.
Investor James Fishback, who proposed DOGE dividends earlier this year, slammed the 50-year-mortgage idea as a “spit in the face” and “an insult” in a video.
“We did not vote for this. We did not vote to become debt slaves to private equity firms and the big banks and Wall Street,” he raged.
Just another day and another dollar twisted, lost or squandered in Trump world. Even Marge Greene wrote that it would ultimately reward the banks, lenders and home builders while people pay more interest over time, “and die before they ever pay off their home.” This is the lasting Trump legacy, right here, every American born gets the opportunity to die in debt. How many of us are going to live to be 90? And how many of us are going to be able to keep working and paying off a mortgage in that phase of life?
I’m still working at 72 but I’m blogging. I can sit on my couch or lie in bed for that matter, and tilt the computer on its side and type. If I had to go back to corporate America I don’t even want to think about it.
And imagine that: people working in their seventies and eighties just to pay off a house? In the prayer that they live long enough to actually own their own home outright? And for how long, six months before they die?
Unbelieveable. Call me when the average lifespan is 200, then I very much want to hear what Mr. Pulte and Donald have to say. Ring me in 2153, assuming I’m one of the first people to hit 200.
RW FAILED POLICIES! Politicians who keep using the same, old failed remedies for solving, their failure to GOVERN! NO ONE, SHOULD VOTE for EXTREME, RW Ideology! It always fails for “all the people”!
From the block quote:
Investor James Fishback, who proposed DOGE dividends earlier this year, slammed the 50-year-mortgage idea as a “spit in the face” and “an insult” in a video.
“We did not vote for this. We did not vote to become debt slaves to private equity firms and the big banks and Wall Street,” he raged.
Yes, Mr Fishback. If you voted for Drumpf, you most certainly did vote FOR it, even if you didn’t know or realize it at the time. Which of Drumpf’s economic plans from his FIRST horror film of an administration was done that did not ultimately benefit the “private equity firms and the big banks and Wall Street?” And, on that “Wall Street” point, have you NEVER noticed how often Drumpf touts the stock market? You know, that thing that is essentially the very purpose of Wall Street’s existence? Sorry that YOU weren’t smart enough to NOT fall for the con man’s shill a second time.
It’s not just homes that are getting out of reach for working people, it’s also cars. Repos of new vehicles have now surpassed the highs set during the Great Recession, over 4% annually, and it’s just beginning. Cars are becoming just as unaffordable as homes. Maybe trump’s answer will be to import Falcons from Argentina.
https://www.willbyers.com/blog/argentina-ford-falcon
Contrarian sentiment coming (and I’m not in or from the US, so please don’t flame if I’ve simply misunderstood things).
IF
1. These mortgages are fixed-interest, AND
2. Taking one would mean monthly payments within spitting distance of rent for an equivalent property,
THEN,
I would take one in a heartbeat (even more so if they’re transferrable).
Ultimate inflation hedge, and inflation’s going to continue.