The 50 Year Mortgage

Thread on this just 404'd and it was really interesting
What are the implications of your entire family being indebted to a bank for generations?
www.mirror.co.uk/news/politics/tories-draw-up-plans-50-27377781

Attached: new serfdom.jpg (1080x518, 132.03K)

Just let in more 80iq poor brown people, I'm sure that will fix the problem

What do you think it means to be an american anymore? We are just spreading our culture to europoors now.

Tbf this is how businesses buy property. This is basically just a lease-to-own that your kids can likely decline if they don't want it.

That's what it means to be an American, we export jew tricks and homosex

The reverse mortgage is even scummier.

You get equal payments for the value of your home amortized to the best guess of when you will die. Then the bank keeps your home when you die.

Anything they can do to make sure wealth can not be passed on.

Could you effectively rugpull your child's future by making them take a 50 year mortgage then taking out reverse mortgages on the 50 year mortgage on what you've paid off?

You can't make another person take your loan, idiot. This is just a 50 year mortgage that your kids will have the option to take over versus the standard 20-30 that the bank gets and you have to bid on the home when it goes to auction. Honestly, if it's a home that your kids wants, this is a good deal as your parents can pay on a big house with lower payments and then you take over the house that was hopefully not some urban shit box and then have a homestead that you only owe 10-20 years of low payments on automatically.

This would only make sense for people with no family nor heirs. Anybody that does that that has kids should be ashamed of themselves.

Wouldn't it be better if you didn't have to take out a multi generational mortgage and you could just buy your home at fair prices?

that sounds like antisemitism

For the original buyer yes. For the child, no

>fair prices
This ranks right up there with "living wage", retard. "Fair" is what women and betas scream. "Fair" is subjective. The price of anything is based on supply and demand as it always has been. You're just think it cost more because the dollar is worth less because the supply is higher than demand for it right now. Instead of being a faggot and crying about "fair", how about you jump jobs and get one that pays you according to the current inflation rate so you can afford that house price that inflated. Adapt and overcome instead of crying.

How about trying to make the inflation go down?

Finally, someone who gets it. I like the 50 year if it auto allows the child to choose to inherit the debt, thus keeping the house instead of competing for it and having to buy at market value once your parents die. And if your parents aren't total shit bags, they can get the 50 year with low interest and payments and pay the 20-30 calculated payment and save on a shit ton of interest. But if your parents kick the bucket, there is the insurance of it. This is 100% a way to have inheritance wealth in today's inflation age.

You first. It's easy. Go to your bank, withdraw all your money in cash form. Take it home, put it in a pile in the back yard and burn it. You just lowered the supply by 15 dollars. Thank you.

You sound like a retard and whats going to happen is when the dollar is inflated to Zimbabwe levels someone who doesn't want to take out a 5000 year mortgage will kill you and steal your house. And they will be justified.

Fucking Mormons would be buying $100,000,000 mansions.

The same thing will happen as happened in Weimar, idiot. Prices will keep inflating and retards will sell their homes and sit on the money while renting hoping a housing crash will happen. But it won't and they will end up homeless. All the urban areas will become ghettos and crime ridden and all the rural areas will largely be unaffected. Most farmers owned their farms outright after inflation because their debt became worthless.
>steal your house
how does one steal a house? Worse they can do is burn it down, but all houses with loans have to have insurance and arson is covered in all policies. I can't help that you are a coping rent fag.

I am going to inherit a house, dumbass. I don't think having a seething underclass of perma-renters is a good thing, nor do I think that being able to get a house if you are willing to take a 2 generation mortgage when in the past people could pay off a house in 10 years is a good thing.
Your mentality is "I got mine so fuck everyone else loool" which is why everything is collapsing right now. If people have no upward movement without committing to 50 year plans that assume total financial stability across 5 decades and 2 generations, then we are fucked and the only cope is from faggots like you and Boris Johnson who think is is all fine.

>The price of anything is based on supply and demand as it always has been.
>doesn't include the effects of expanding the availability of credit on Demand
Yeah, I'm thinking kike

You would get fucking raped on interest with a 50 year loan, you would literally be paying double the principal with just a 3% apr.

Fifty year mortgage is retarded and will only inflate home values even more. What is not retarded is allowing heirs to assume a current mortgage. Forcing the estate to sell a mortgage property is essentially the same thing as foreclosing so why not just let the heirs/estate continue paying the mortgage if they meet the obligation? Perhaps just make it easy for the bank to foreclose should payments become delinquent the first few years after such a transfer.

>I got mine so fuck everyone else
That is 100% not my mentality. I just don't scream about "fair" like a faggot. If you want prices to come down on houses, you have to increase supply. That isn't going to happen naturally as houses take X amount of time to build and resources are limited. I've thought about this alot and here is my solution to help this:
>heavily tax non-primary residential home ownership
Boomers regularly own a shit-ton of rentals. This needs to stop.
>enforce rental codes already on the books for private rentals
I have a great story of how this really works well
Both of these will flood the market with either real estate or land ready for development. I've already seen it happen in two small towns. Both of which had their real estate prices drop due to it and it brought in first time small family home buyers.

>Anybody that does that that has kids should be ashamed of themselves.
So most boomers then. I don’t know any X or Millennials doing this.

KEK theyre bringing back feudalism

>doesn't include the effects of expanding the availability of credit on Demand
No need to include that. Credit on demand is nothing more than a tool that can be abused. And conflating credit on demand with a mortgage just tells me that your a rent fag who has never taken out a mortgage.