Spot on Jeff.. same everywhere they go. Them and the private equity and hedge fund land barons.. post WW II it was the GI Bill and William Levit who built affordable levittowns … as starter homes.
I was single when I bought my first home without any other plans, so I got a 15 yr mortgage just so I wouldn't have to think about paying a mortgage into my old age. Best decision I ever made. Trump's idea not only is stupid but I guess he can't do math. The average new buyer is 35 to 40 years old. Who wouldn't want to pay a monthly mortgage until their 90? It's a bad deal for everyone, including the banks, because the average life expectancy of Americans is decreasing, not increasing....but I guess interest would balance it out for the banks if you don't die before 80.
And because of the low supply, it's likely flooding the market with new buyers would increase demand even more. That could cause home prices to increase over and above what ever the savings would be.
Thanks for laying this out so well. How many ways are there to say "bonkers?"
How about writing about what Airbnb and VRBO has done to supply in states like Michigan. Looks like a huge problem no one talks about.
Roger Parkins
Thanks Jeff
Spot on Jeff.. same everywhere they go. Them and the private equity and hedge fund land barons.. post WW II it was the GI Bill and William Levit who built affordable levittowns … as starter homes.
I was single when I bought my first home without any other plans, so I got a 15 yr mortgage just so I wouldn't have to think about paying a mortgage into my old age. Best decision I ever made. Trump's idea not only is stupid but I guess he can't do math. The average new buyer is 35 to 40 years old. Who wouldn't want to pay a monthly mortgage until their 90? It's a bad deal for everyone, including the banks, because the average life expectancy of Americans is decreasing, not increasing....but I guess interest would balance it out for the banks if you don't die before 80.
Thank you! Great summary of how horrible this 'idea' of a housing solution this is.
His own family didn't trust him with money, I don't either.
That’s how money is made ! The investment broker bank
Etc makes money ! You loose!
The only winner is not the buyer! They make your money plus they make a load of in debt! They make a killing in debt’ just do the math and tax laws.
Debt makes them alot more money !
And because of the low supply, it's likely flooding the market with new buyers would increase demand even more. That could cause home prices to increase over and above what ever the savings would be.
Excellent analysis. Hopefully lots of young folks will read this. Maybe distribute it to other "outlets".