Trump’s 50-year mortgage just introduces a new kind of debt
Fox News
Building more homes, not longer loans, is key to restoring American Dream as mortgage rates and construction costs soar nationwide.
Patrick M. Brenner is the founder and president of the Southwest Public Policy Institute, a nonprofit research institute in the American Southwest dedicated to promoting better living through better policy.
But the problem isn’t the rates or lengths of mortgages; it’s the cost of the house.
Extending loan terms just spreads the pain over more years. Longer mortgages might lower the monthly bill, but they multiply the total debt. On a $400,000 loan at 6% interest, a 50-year mortgage means paying roughly $1.26 million over the life of the loan, more than triple the original amount. After 20 years, you’d still owe almost $350,000.
Republican Study Committee Chairman August Pfluger introduces the "More Affordable Care Act" to scale back Obamacare and create Trump Health Freedom Accounts.
Virginia man Brian Cole, who allegedly planted the two pipe bombs at the U.S. Capitol, told investigators he has doubts over the 2020 election results.
Vice President JD Vance indicated that U.S. voters are "impatient" for additional headway on prices and the economy, NBC News reported.
New York prosecutors released the 911 call from a McDonald's manager that led to Luigi Mangione's arrest in the murder of UnitedHealthcare CEO Brian Thompson.
The Department of Homeland Security said arrested at least a dozen criminal illegal immigrants in Minneapolis during Operation Metro Surge, including gang members and sex offenders.
Newark Liberty International Airport has ranked as America's most stressful airport in a comprehensive new study, scoring 18.46 out of a possible 100 amid record holiday travel.
FBI director suggests 'sheer incompetence' or 'negligence' in Biden admin handling of pipe bomb case
FBI Director Kash Patel criticizes Biden administration for failing to solve U.S. Capitol pipe bomb case for four years before Brian Cole Jr. was arrested.
House Republicans demand answers from Maryland election officials after discovering Ian Andre Roberts, an illegal immigrant school superintendent, allegedly fraudulently registered to vote.
Donald Trump and JD Vance are abandoning their populist promises. That's hurting Republicans while creating openings for Democrats and 2028 rivals.
White House border czar Tom Homan confronted a heckler who called him racist during a speech at an event hosted by Turning Point USA.
President Donald Trump hires Shalom Baranes Associates as the new architect for the White House ballroom project, replacing McCrery Architects.
New York City Mayor-elect Zohran Mamdani announces he will end homeless encampment sweeps when taking office in January, breaking from Mayor Eric Adams' policy.
Television writer Molly McNearney called freedom in the U.S. "fragile" after her husband Jimmy Kimmel had his late-night show briefly suspended in September.