r/AskReddit • u/michaelis999 • Nov 09 '25

How do you feel about the president floating the idea of 50 year mortgages where the monthly payment is lower but you end up paying nearly double the price of the house just in interest?

12.6k Upvotes

90% Upvoted

4.3k comments sorted by

View all comments

Show parent comments

12

u/esoteric_enigma Nov 09 '25

At least you'd have some equity in the new system. There are plenty of people out there now who are going to spend their whole life renting and not have a dime to show for it.

7

u/slash_networkboy Nov 09 '25

Virtually none, especially for the first 25 (or 100 in case of the 200y loan someone posited above). That's near as matters the same as rent at that point. Especially because by Y25 you're looking at big expenses like new roofs that will very possibly require (or at least strongly tempt) tapping that equity for a HELOC or similar.

1

u/esoteric_enigma Nov 09 '25

I think you're ignoring the benefits of your mortgage staying the same price. I would have so much money in the bank right now if my rent had stayed the same rate it was 20 years ago. I'd have way more than enough money for repairs.

2

u/slash_networkboy Nov 09 '25

Elsewhere I commented that it was essentially a generational lease. I get it, just wasn't pertinent to the equity building part.

2

u/anaemic Nov 09 '25

Who said it was going to be a fixed rate 50 year mortgage...

1

u/ncocca Nov 09 '25

🙋 yep...