An idea so dumb..... (50 year mortgage)....

[Lisa558]

I hear what you are saying. But 50 year mortgages are a symptom of a huge problem we have in this country. They are going to do nothing to bring down housing prices.

So how do you propose bringing down house prices? And remember….that will hurt people, as well. Remember the housing crisis, when prices dropped and people were upside-down on their mortgages?

The solution is not to bring down prices of existing homes, but to reset young people’s idea of what a starter home should be: a modest home with 2 or 3 bedrooms, 1 bathroom, a driveway, and about 1200 square feet. We need builders to build more “entry” level houses, but the profit isn’t as great there.

 

[Lisa558]

P.S. A young couple could buy a 2-bedroom, 1 bath house and live there for years - even after they have children. Little kids can share bedrooms. That’s the way it was done in the past.

 

[CrazyTrader55]

So how do you propose bringing down house prices? And remember….that will hurt people, as well. Remember the housing crisis, when prices dropped and people were upside-down on their mortgages?

The solution is not to bring down prices of existing homes, but to reset young people’s idea of what a starter home should be: a modest home with 2 or 3 bedrooms, 1 bathroom, a driveway, and about 1200 square feet. We need builders to build more “entry” level houses, but the profit isn’t as great there.

My proposal is to stop feeding the monster. House prices never, ever come down and it causes everything else to increase in price also. 30 year loans should be the absolute max. 50 years just means more of the same, more people buying houses who shouldn't be buying houses. More demand for houses = higher prices.

 

[Lisa558]

My proposal is to stop feeding the monster. House prices never, ever come down and it causes everything else to increase in price also. 30 year loans should be the absolute max. 50 years just means more of the same, more people buying houses who shouldn't be buying houses. More demand for houses = higher prices.

So go with my suggestion: get more 2-bedroom, 1-bath modest houses onto the market, and let young couples start there.