President Donald Trump is making housing affordability a top priority to reduce living costs. A key part of his plan involves helping more Americans achieve homeownership, especially as many struggle with current market prices. One major proposal is the introduction of the 50-year mortgage, designed to lower monthly payments by extending loan terms. This initiative, along with other proposals, aims to make homeownership more accessible and attainable for everyone.
But many households, should they accept the 50-year mortgage, may not hold it for the entire duration, said Glenn Phillips, CEO and lead economic analyst at Lake Homes Realty. “Most people sell before they pay off a mortgage now, so in some ways this is not very important to most people,” Phillips told The Epoch Times. – California Insider