MAGA plan to make Americans into serfs.. the 50 year mortgage

[zinfamous]

What you build it out of and how you build it is just as important. Multifamily living in much of the US sucks ass because of building codes which essentially make that the case. Our shitass stick over podium stuff with double loaded corridors is a terrible product compared to what virtually everybody else on the planet builds.

yeah but this stuff made greenman so fabulously wealthy and proudly independent that he had to retire in the poorest, most economically and socially depressed part of the country where he can continue to share half of his wealth with the billionaire pedophiles that he thinks are very good people and really should be making economic and law policy that keeps him cmofrtably mediocre and proudly angry about literally everything that he's never been exposed to.

it's greenman life. now with a shitload more pedophiles, because that's what he's really into now.

 

[Brainonska511]

yeah but this stuff made greenman so fabulously wealthy and proudly independent that he had to retire in the poorest, most economically and socially depressed part of the country where he can continue to share half of his wealth with the billionaire pedophiles that he thinks are very good people and really should be making economic and law policy that keeps him cmofrtably mediocre and proudly angry about literally everything that he's never been exposed to.

it's greenman life. now with a shitload more pedophiles, because that's what he's really into now.

He retired there because he likes having an underclass of poor people to provide him cheap services.

 

[Brainonska511]

What you build it out of and how you build it is just as important. Multifamily living in much of the US sucks ass because of building codes which essentially make that the case. Our shitass stick over podium stuff with double loaded corridors is a terrible product compared to what virtually everybody else on the planet builds.

Anytime I bring this up, people are like "we're following the International Building Code", which is International in only its name.

There are so many best practices that we could implement from other developed countries, and it is quite insane that we continue to do things in bespoke, expensive, and worse ways. How much further ahead could we be if we actually adopted some of those practices to reduce our costs to build, maintain, and rent/buy?

 

[K1052]

He retired there because he likes having an underclass of poor people to provide him cheap services.

To get any cheaper living one would literally have to leave the country lol. He got offended when I compared it to American expats living in Mexico or Central America.

 

[ivwshane]

While you and I wouldn't do it, lots of people will. It's an extra $250 a month to spend on other junk. That $250 might be enough to get the heated massage seats in the $90k SUV they want, or automate their homes so they can turn off the lights from another country that they can't afford to visit with their $1200 smart phone.
Consumerism is limitless, it's insidious, and a lots of people love the joy of a new purchase.
So yeah, I see people doing this.

Edit: People are buying cars at 32% interest, another 20 years on the home loan won't be a big reach.

Quick question: is this good policy for America, either in the short term or the long term? I’m not talking about Americans, I’m talking about the country as a whole, is this a good idea or not?

 

[Brainonska511]

To get any cheaper living one would literally have to leave the country lol. He got offended when I compared it to American expats living in Mexico or Central America.

Or even the Mediterranean. Americans of even modest means move to these places in retirement and have great lives because the rest of the population is so much poorer. Americans had been beating the pants off other countries when it comes to median disposable incomes, but we flush tons of it all down the drain with car culture, horrible inefficiency, and oversized living.

 

[K1052]

Anytime I bring this up, people are like "we're following the International Building Code", which is International in only its name.

There are so many best practices that we could implement from other developed countries, and it is quite insane that we continue to do things in bespoke, expensive, and worse ways. How much further ahead could we be if we actually adopted some of those practices to reduce our costs to build, maintain, and rent/buy?

The usual argle bargle that follows when you tell somebody in US construction this is for them to accuse you of compromising life safety then them sticking their fingers in their ears and humming loudly when you tell them death rates in Western Europe are LOWER than ours.

 

[Brainonska511]

The usual argle bargle that follows when you tell somebody in US construction this is for them to accuse you of compromising life safety then them sticking their fingers in their ears and humming loudly when you tell them death rates in Western Europe are LOWER than ours.

I know. People don't understand interior firewalls and automatic closing doors, that ladder trucks could help with secondary exit from under 6-10 stories, better fireproofing materials, better sprinklers, a less indoor smoking and combustible materials used, less use of flammable cooking things... Just a complete lack of any imagination or any other way of doing things beyond the world handed down in the US as of whatever ancient year.

 

[VRAMdemon]

"The best part of a 50 Year Mortgage is you can gift that debt to your children."

--- Donald "The King of Real Estate" Trump

 

[brycejones]

Why is it that you're incapable of having a discussion? What makes you think your so superior that all you have to do is shit on anyone that dares not to think the way you do?
Just so we're clear on this, you're an idiot that spouts foolish garbage and thinks it has value. You're a fool.

When have you engaged on the merits of anything? When confronted with facts counter to your narrative you shut down and go silent.

Your post is pure projection.

 

[Fenixgoon]

So if we look at this nationally, the median home price is 462k. Yikes 😬

Even with 20% down (92k, eep) at 5.75%, thats 2160/mo for a 30 year mortgage, not including taxes and insurance. Lets assume 2% for that, which brings us to about 3000/mo just for the house. (5% down adds another $400/mo)

Not including utilities, maintenace/improvement, or emergencies. Not including groceries, transportation any sort of life enjoyment, retirement, or other savings.

For reference, the median after-tax income income is about 46k according to the St. Louis Fed

Real Median Personal Income in the United States

Graph and download economic data for Real Median Personal Income in the United States (MEPAINUSA672N) from 1974 to 2024 about personal income, personal, income, median, real, and USA.

fred.stlouisfed.org

This census article has it at 64k but im not sure ifnthats post-tax. Even if it is, thats not much buffer

End of Pandemic-Era Expanded Federal Tax Programs Results in Lower Income, Higher Poverty

The expiration of expansions to federal programs during COVID-19 resulted in lower post-tax household income and higher poverty rates.

www.census.gov

 

[Moonbeam]

I see two ways to look at this. One is that a fifty year mortgage is a wonderful idea at zero percent bust current or higher res it would be terrible. The reason such an idea would have any appeal is because in a capitalist system deregulated by the psychopath wealthy via purchase of political power the average person lives a life of misery owing to endless financial struggle. Given that Americans are fucked anyway, being fucked a little less a month over a lifetime that is fucked anyway is a good deal. In a fucked world those doing the fucking will happily provide you options to fuck yourself if those options profit them even more.

All those screaming and yelling about how terrible this is are inextricably bound to it in terms of of responsibility in that all their weeping and wailing and gnashing of teeth has not fixed it. There I no cure within the system and no will to cease to worship it.

 

[pcgeek11]

First off I think offering a 50 year mortgage is insane and stupid. I also think that it is stupid to have 7 and 8 year auto loans, but those are a thing too.

But a 50 year mortgage isn't mandatory it is a choice offered by a business. The sticky part is that stupid people will accept it and then after they realize it will claim that they were taken advantage of. The business' offering these loans should be required to fully explain and have the recipients sign and document that they understand their obligation.

Oh and I should mention that the children are Not Required to pay off the remaining mortgage when their parents are dead. Unless they are listed as a co-signer or joint account holder of the mortgage. The loan would be paid from the estate or the house would be sold. I know there are people that think that would cheat the children of the deceased. We should remember that the parents do not owe the children an inheritance. I owe no bills except for living expenses, I have a savings account I pay into monthly and a 401K. My son is more than welcome to whatever is left after my Wife and I are gone....

 

[sandorski]

First off I think offering a 50 year mortgage is insane and stupid. I also think that it is stupid to have 7 and 8 year auto loans, but those are a thing too.

But a 50 year mortgage isn't mandatory it is a choice offered by a business. The sticky part is that stupid people will accept it and then after they realize it will claim that they were taken advantage of. The business' offering these loans should be required to fully explain and have the recipients sign and document that they understand their obligation.

Oh and I should mention that the children are Not Required to pay off the remaining mortgage when their parents are dead. Unless they are listed as a co-signer or joint account holder of the mortgage. The loan would be paid from the estate or the house would be sold. I know there are people that think that would cheat the children of the deceased. We should remember that the parents do not owe the children an inheritance. I owe no bills except for living expenses, I have a savings account I pay into monthly and a 401K. My son is more than welcome to whatever is left after my Wife and I are gone....

"Stupid" people might have no choice. There is a lack of Income crisis happening and this is just more evidence of it.

 

[hal2kilo]

"The best part of a 50 Year Mortgage is you can gift that debt to your children."

--- Donald "The King of Real Estate" Trump

Like a timeshare.

 

[pcgeek11]

Like a timeshare.

Not required to pay that either. Disclaim it.

 

[pcgeek11]

"Stupid" people might have no choice. There is a lack of Income crisis happening and this is just more evidence of it.

There has always been a lack of income for some....
Digging into a 50 year mortgage is not an answer. IMO

 

[Fenixgoon]

There has always been a lack of income for some....
Digging into a 50 year mortgage is not an answer. IMO

You'd think the wealthiest nation on the planet could do something about that..

 

[ivwshane]

So it’s a stupid option but people should be able to be taken advantage of if because…reasons.

Just say you support profit over people and you think business opportunities come before providing for the general welfare of the country.

 

[cytg111]

Why build housing when you can build work camps for the homeless?

What kind of business proposal is that?

Come on.

 

[balloonshark]

They had to create the next bubble while we wait for the AI bubble to burst.

If this is a terrible idea that could endanger the whole economy then why do you think it should be an option? Every time a bubble bursts we become poorer and they become more wealthy and powerful.

 

[Fenixgoon]

They had to create the next bubble while we wait for the AI bubble to burst.

If this is a terrible idea that could endanger the whole economy then why do you think it should be an option? Every time a bubble bursts we become poorer and they become more wealthy and powerful.

Well yeah thats the goal. Then maybe you get a french revolution

 

[Pens1566]

When have you engaged on the merits of anything? When confronted with facts counter to your narrative you shut down and go silent.

Your post is pure projection.

Yeah, his last few posts in here broke my irony meter so bad it exploded and took the hypocrisy one with it as well.

 

[Pontius Dilate]

All those screaming and yelling about how terrible this is are inextricably bound to it in terms of of responsibility in that all their weeping and wailing and gnashing of teeth has not fixed it. There I no cure within the system and no will to cease to worship it.

This is weird gaslighting. No one in this thread is screaming and yelling, weeping, wailing or gnashing their teeth. People are talking about a bad idea floated by the dumbest president of our lifetimes. The conservative response is basically, "This is a bad idea but stupid people will do stupid things and blame someone else, so it goes." Most everyone else is saying, "This is a bad idea which should not be enabled. Instead there are other things we should be doing." Resignation vs alternatives.

 

[Moonbeam]

This is weird gaslighting. No one in this thread is screaming and yelling, weeping, wailing or gnashing their teeth. People are talking about a bad idea floated by the dumbest president of our lifetimes. The conservative response is basically, "This is a bad idea but stupid people will do stupid things and blame someone else, so it goes." Most everyone else is saying, "This is a bad idea which should not be enabled. Instead there are other things we should be doing." Resignation vs alternatives.

Perhaps when I say weeping and wailing you hear something different being expressed than I do. To my mind you have simply sanitized what is being said to its sterile logical presentation when what I hear is the emotional tones in which those negative implications the offering of a 50 year mortgage would createand the derision toward those who fail to see them are relayed.

This thread if filled with anger even rage and contempt toward those who can understand why people already fucked by the system will willingly fuck themselves further in search of relief. They were viciously put down for expressing that view.

The left wants to be their brother’s keeper so long as it means preserving their position in the system. We are all a part of a fucked system, prisoners of it both physically and mentally in various degrees of economic bondage and attachment to it. We are the system. When anybody expressed contempt of a part of it they should recognize they enable it if they are benefitting within it. I see no real change resulting hormones the bellyaching, only an attempt to cast blame on someone else. How can I look at what is, being a part of it and not recognize my presence within it has not changed it a wit.? Who am I to blame someone else?

Did not a group of bleeding heart liberal Senators just surrender to pressure to restore government funding on the pretext of the widespread suffering the shutdown create?

I know very little, and perhaps am wrong about this, but didn’t those same capitulations earlier vote in a way that led to the shutdown down? What happened?