Thread 521112037

Do you really think a 50 year mortgage would make housing more affordable for anyone?

No one needs a house that big, 900sqft is more than enough for a husband, wife, and pet

>>521112037 (OP)
I thought this would be a shithole but it's a nice college town surrounded by cornfields. Why is the house so cheap?

170 year mortgage, payments of $500 each month. Yes your children and grandchildren pick up the tab when you die.

>>521112037 (OP)
>50 year mortgage
will make housing more expensive

>>521112037 (OP)
If you blow your head off in there does it make it cost less.

>>521112132
that would make the monthly payments for this house $40 a month even with interest and then you could just sell it or pay it off

That house as advertised would sell for at least 700 thousand US Dollars site unseen.

What's the show stopping problem? Capitalism doesn't make a mistake in these sorts of things. If the price is low, then it means people don't want free money, and that's impossible.

50 years is stupid it reqyires you buy a home at like 22 years old and never move if you want to own your house by retirement. Most of us are 30-40 who can even afford homes right now and paying the thing off by 80 or 90 is absurd.

Mortgages in general are jews scams.

Google maps.
enter address
drop the streetview man.
rotate 180 degrees.

"oh"

You are not entitled to a house, libtard.

>>521112037 (OP)
I'm no mathematician but I would have to assume monthly divided over 50 years is less than divided over 30.

80k 50 year loan
so based u will never own anything and be happy

>>521112347
monthly *payments

>>521112251
Anon you don't pay off a 50 year mortgage you refinance when the market allows and interest rates are low, still extremely jewish idea though

>>521112161
>Increase asset value
>Increase real estate morgage debt
A cheap trick to pump GDP. Normies will fall for it.

>>521112037 (OP)
>50 year mortgage
will bait some new losers to buy the top of the bubble
that's about it

>>521112104
Carlinville isn't terrible, just bumfuck nowhere. Honestly, for someone that is somewhat self sufficient, the city is probably fine. Standard flyover country with nothing to do.

If I had to guess, it's probably in the flood plane. A lot of those dirt-cheap rural houses are money sinks because of
> Built in 1920's, so probably has asbestos and radiant heat
> Probably has water damage, or is very susceptible to it.

There is loads of affordable housing in bad neighborhoods. Maybe you arnt middle class? Maybe you are dumb.

>>521112302
You aren't entitled to the North American continent, bean nigger

>>521112037 (OP)
>50 year mortgage

what, are you suppose to get this when you are like 12 years old or something? If you get it in your 20s then you will be paying after your state mandated retirement, how would you pay off a bank loan on a fixed income if you're such a fuck up you needed a 50 year mortgage in the first place?

Affordable housing or housing in general will not exist in the next 10-20 years, THEY will make it so that western societies are rent-only forever.

>>521112104
>Illinois so at the whims of Chicago niggers
>backtaxes to be paid by next owner
>dying town with high unemployment
It is 97% white which is nice thoughbeit

No. Trump is an idiot for suggesting this as a solution. Just a way to make the bankers, mortage brokers and ultra-rich even more money while you never really own your home.

>>521112475
the idea is for you to fail
then they foreclose on you and a new idiot picks it up
that way paper valuation stay up

it's a now classic trump crypto scam

>>521112097
Poor fag reasoning.

>>521112037 (OP)
Nice to see you around, housing anon

>>521112037 (OP)
No it makes it less affordable because it increases demand

>>521112576
the idea is the bank gets to act like a landlord without any of the legal risk of directly owning the property, they actually prefer if they don't have to foreclose on you because then they have to find a new sucker to agree to a loan they can never pay off

>>521112690
also there is a fundamental human thing, where if you do not own it, you do not care
since you supposedly owning the loaned house, you take care of it right anon
HAHAHAHHAHA

>>521112255
Good luck buying a house without one

>>521112588
Exactly one day when there is 1 trillion humans. 100 billion humans will be living in homes like this.

>>521112037 (OP)
jew bankers will sure be able to afford bigger nicer houses.

>>521112037 (OP)
Rent should be cheaper because normie scum will be getting into 50 year mortgage so they can show their box on Facebook.

You can take a 5y, 10, 15, 20, 30 or 50. You don't have to take a 5 decade mortgage. People are so averse to new information it's like you can't get out of your own way. It's an option just like all the rest. Having options is good. Not having options is bad. Do people have brains that actually work anymore? No they do not. I wouldn't give your pathetically ignorant asses a damned thing.

Did you know?
Japan's number 1 donut chain is Mister Donut.
And there is only ONE Mister Donut in the entire United States of America.
And you can afford a house which is walking distance from that Mister Donut.
Location, location, location!

>>521112037 (OP)
It will just raise prices. But that’s what boomers need to retire since Medicare/SS are drying up.

>>521112443
> flyover country with nothing to do
That’s everywhere now. Nobody does anything except stare at their phones.

>>521112037 (OP)
DUDE I WOULD SAVE 200 DOLLARS A MONTH BUT BE AN INDENTURED SERVANT UNTIL I'M 80
MIGA VICTORY
WAIT NO SORRY I DIDN'T MEAN TO OFFEND ISRAEL
SO SORRY ISRAEL SAMA I WAS A BAD GOY!!! I WILL TAKE THE 100 YEAR LOAN AND REFUSE TO DIE UNTIL I PAY OUT ALL THE INTEREST.

Only 2 things will make housing cheaper
>cost of construction goes down (only easy lever for this is cutting regulations/zoning)
>there is a recession
What the idiots praying for the "bubble" to "pop" don't realise is that whatever event has the power to crash the real estate market 50% or whatever will wreak havoc on the rest of the economy too. Yes there will be discount property but it won't be getting scooped up by Mr Normalfag who just lost his job.

>>521112037 (OP)
>Carlinville
I can almost taste the rancid nigger sweat.
>Illinois
The $79,900 is just the yearly property taxes.

>>521112037 (OP)
Lower payments = more affordable

Perhaps not more sensible but certainly more affordable.

>>521113044
i dont know a single institution that has gone 50 years without scandal. besides, we already have a society wide problem with people getting into debt and staying in debt all their lives via college loans. The precedent has already been set that this both a bad idea and unsustainable. I dont want to wake up one day and have to deal with some political grifters promising Mortgage-lifers that they will represent their retarded values and have a whole political/social class rise up around this idea of perma-rentoids acting like they are true land owners and that society has to pay attention to their 'needs' as some new protected special interest group.

People have nigger fatigue, and jeet fatigue, and woke fatigue, now here comes a new magical group anyone can join and be protected under: the mortgage lifer. Oey vey goyim, we must help this protected racial ambiguous class heeheehee.

>>521112037 (OP)
The amount of equity you build with a 50-year mortgage will be significantly more than you build with 50 years of broken leases and bad credit.

>>521112104
You couldnt pay me to live in Illinois under those communist laws.

>>521114102
>FOID card to own guns or you're a felon
illinois is cancer