Average age of a first time homebuyer is now over 40. Even at a reasonable interest rate, most buyers would die before they actually own the house.
this post was submitted on 12 Nov 2025
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Can't pass it on to your kids when the bank forecloses on it
Were not enough boomers taking them up in reverse mortgages?
Because that's where all my "generational" wealth went. "We can't take it with us Jimmy" though we did, in fact, take it from those who came before.
Late stage capitalism demands that you will own nothing.
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My favorite part of this whole 50 year mortgage thing is the shock that you'd pay like $1.7m for a $400k house over the 50 years while not batting an eye at paying $900k for a $400k house over 30. It's even funnier because houses don't have a set value, can change on a whim and have become a path to wealth instead of the necessity that is shelter.
The quality of the materials and the precision of the build has gone down while the prices rise, and everyone's like "oh this sucks, but the market".
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So I did the math. A 30 year fixed and a 50 year fixed have a monthly payment difference of $1.
What the absolute fuck.
Because for the first lot of years you are paying basically 0 principal
You're right, but he did say the monthly payment was the difference, not the interest payments. That typically doesn't change throughout the life of the loan. I wonder what the math formula looks like for a 50 year fixed?
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A 50 year mortgage will be a lot like renting. Because the bank will own your shit until you die.
That's what we get for saying "why can't I get a mortgage when I pay more in rent just bc my credit is bad", the banks figured out how to rent properties to you.
Headline: Save 200 dollars a month with a 50 year mortgage over a 30 year!
Subtext: ... and end up paying double the interest to us for the benefit, and die before your loan is paid off so we get to take the house back from your corpse, sell it on the cheap to a corporate real-estate investment firm (that we have stock in) for just enough to cover the remaining mortgage balance. They'll turn your multi-generational family home into a shitty rental property or leave it empty to keep the rest of their rents high and your children get nothing cuz fuck em!
Bank workers are, at best, getting a small bonus when you sign that mortgage. Your fellow worker isn't the enemy.
What kind of wacko lib upvotes this nonsense?
Banks are capitalist AF. Literally the heart of capitalism.
Pretty disgusting to hear these leeches framed as "workers".
There's literally no work involved in collecting mortgage payments. That's why it's called "passive income." That's the whole point of hoarding land and housing.
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The Nürnberger defense.
Yeah every commissioned salesperson you don't like is literally nazi ss. Go off, you galaxybrained god.
Generalizing and nazifying doesn't actually make your bootlicking sound reasonable.
Being able to tell the difference between a fellow worker and a class traitor isn't bootlicking!
I wasn't even the person who generalized and nazified, the comment above me did. What in the actual heck, buddy?
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I can't believe this is real.
Home ownership out of reach? No problem, just never own a home. Bing bang boom.
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A 350k house assuming the national average on taxes and interest rates comes out to just shy of 1 million dollars. Over 650k in interest. The payment is $1700 which to put it in perspective my home was 260k at 2.8% interest and my payment is $1830 on a 30 year mortgage.
Usually folks signing a very high interest mortgage do so to snag property while prices are down due to the rough market then will refinance in 2-5 years when rates are lower.
As long as homes are investments, buying a home as soon as you can regardless of interest rate is the most accessible path to financial success for the average middle class American
For one thing, when you buy a home you're basically locking in your home payment for decades. A 30 year mortgage originated in 1998 would have the exact same payment this month as it did in 1998. Unless of course you pull equity out of the home in a HELOC or refinance but that's generally not a good idea anyways since you're trading long term wealth for short term cash, and that's basically always a path to economic ruin. Point is though, whatever payment you lock in with your initial mortgage it's not going to change significantly until the mortgage is fully paid off. Even if you refinance, even considering property tax changes, your home costs are largely not going to increase. About the only wildcard is insurance which those rates are mostly determined by the risk of property loss, so as long as you don't live somewhere that is at relatively high flood, fire or hurricane risk you'll probably not see a dramatic increase
You are not accounting for property tax which can significantly affect the payment. If property values rise, which they always do it will increase the payment. Making the saving from this moronic plan meaningless.
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Is that on the 17% joke rate?
No it’s with 5.5% interest and a measly 5% down payment.
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