Summary
President Donald Trump's proposal for a 50-year fixed-rate mortgage has faced criticism. James Fishback, CEO of investment firm Azoria, called it a "disgusting insult" and warned it could harm younger generations financially. The proposal is part of ongoing efforts to address the U.S. housing affordability crisis.
Key Facts
- President Trump has proposed a 50-year fixed-rate mortgage.
- James Fishback, CEO of Azoria, strongly criticized the proposal, calling it harmful to Gen Z.
- High borrowing costs are a key factor in the current U.S. housing affordability crisis.
- Mortgage rates have been between 6 and 7 percent following rate hikes from the Federal Reserve.
- The average U.S. home price in September was $435,331, a rise from the previous year.
- The proposed mortgage policy aims to address President Trump's campaign promise to improve housing affordability.
- William Pulte, a Trump-appointed official, confirmed considerations for the 50-year mortgage policy.
- Fishback advocated for measures such as restricting large investment firms from buying residential neighborhoods and limiting immigration visas affecting housing availability.
