Trump proposes 50-Year Mortgage

[wmheel1287]

I don't see anything inherently bad about that. I think I've seen some banks doing 7 year loans on cars and cars depreciate a heck of a lot faster than houses.

And financing cars for 7 years is exceptionally stupid and leading to soaring rates of default on car notes.

 

[UNCatTech]

I’m still waiting for Trump to put forward an intelligent economic idea.

We should probably set the bar lower and just ask for an intelligent idea, if we don't want to be disappointed.

This is why I don't believe @Ramrouser is serious when he claims that trump is getting things done. He really isn't.

 

[UNCatTech]

And financing cars for 7 years is exceptionally stupid and leading to soaring rates of default on car notes.

They do it to get people into higher priced cars.

But there really isn't a comparison of a $500K loan for 50 years and a $80K loan for 7 years.

My two current cars, I had 72 month financing. The rates were so low, the interest wasn't an issue, I just wanted to low minimum payment in case I had a different need some months.

My wife's car was financed for 72 months and paid off in 36. My car was financed for 72 months and currently on track to pay off in 48, or less.