President Donald Trump recently proposed the idea of a 50-year mortgage to address housing affordability in the U.S. The plan, intended to reduce monthly payments for homebuyers, has drawn controversy and outrage — even from members of the President's own party.
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Critics within Trump's own political sphere were quick to object to the 50-year mortgage terms. Conservative lawmakers, MAGA supporters and several economists cautioned that these extended loans would trap families in long-term debt and slow equity growth.
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U.S. GOP Representative Marjorie Taylor Greene strongly opposed Trump's 50-year mortgages and expressed her opinion on social media.
"I don't like 50-year mortgages as the solution to the housing affordability crisis … In debt forever, in debt for life," Greene said in a post on X.
Greene offered other solutions like putting an end to large corporations buying single-family homes that they turn into rental properties, and eliminating capital gains taxes on the sale of primary homes.
"This will help people keep the equity they have earned owning their home for a very long time and likely allow them to lower the price of their home for sale since they won't be paying taxes after they sell their home," she said.
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Industry experts also have concerns about the potential effects of 50-year mortgages.
"It would lead to buyers building equity in their homes more slowly. At the beginning of the mortgage, more of those payments tend to be interest," said Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, per Politico.
"This is more of a stopgap bandaid to address affordability," Goldberg added.
Homebuyers would pay much more in total interest over the life of a 50-year loan compared to a traditional 30-year mortgage, making the house far more expensive in the long run.
Critics also warned that extending loan terms could actually drive up housing prices by increasing demand without addressing the underlying issue of too little supply.
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