Are 50-Year Mortgages a Good Idea?

President Donald Trump floated the idea of lenders offering 50-year mortgages in an attempt to “make housing affordable again.” But how would these loans affect Americans?

A New Kind of Debt: Fox News (Right bias) published an opinion questioning the viability of Trump’s proposal. “The problem isn’t the rates or lengths of mortgages,” Fox wrote; “it's the cost of the house.” Fox’s article argued that the government has made building homes too expensive, partially through tariffs, and that the answer to the housing crisis is cutting bureaucracy and taxes “instead of inventing new forms of debt.”

Interest Could Skyrocket: CNN (Lean Left) contended that even if a longer mortgage might minimally reduce monthly payments, “homeowners would end up paying far more in interest over time.” CNN compared the hypothetical total interest payments on a $450,000 home with a 30-year fixed mortgage versus a 50-year mortgage—homeowners would pay $547,000 in interest versus $1.2 million, respectively.

Increased Risk: Forbes (Center) posited that longer mortgages could increase risk for homebuyers by making owners more vulnerable to shocks, such as lost jobs, sudden housing market decreases, or increased taxes, later in life. Forbes also reported that some of Trump’s typical supporters, including Rep. Marjorie Taylor Greene and right-wing social media personality Mike Cernovich (Right), have criticized the idea. 

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