President Donald Trump has recently expressed support for a new mortgage strategy proposed by Federal Housing Finance Agency Director Bill Pulte. This proposal, outlined during a meeting on Saturday, introduces the concept of a 50-year mortgage plan, aimed at addressing housing affordability issues in the United States.
The meeting, documented in a Politico report citing two individuals familiar with the discussion, included a visual presentation by Pulte, who used a poster board to detail the plan. President Trump, who appeared open to the idea, later shared the mortgage proposal on his Truth Social platform.
However, the response from President Trump's supporters was immediate and predominantly negative. Vocal critics on social media platform X included conservative allies and media personalities who questioned the long-term financial implications of such a mortgage term. Benny Johnson, a media figure, articulated the discontent on platform X with a direct comparison: "50 Year Mortgage < 50 Million Deportations." In a subsequent post, Johnson criticized government-funded mortgages for undocumented immigrants, suggesting such policies had previously led to inflated home prices and financial strain for American citizens.
Christopher F. Rufo, another user on the platform, criticized the proposal for transforming the concept of homeownership. He argued that the traditional 15- and 30-year mortgages are built on the expectation of eventual ownership, whereas the 50-year mortgage would treat housing purely as a speculative asset, favoring banks over homeowners.
The controversy highlights concerns over the extended mortgage terms, with critics fearing that although monthly payments might be lower, homeowners would end up paying significantly more in interest, potentially for their entire lives. Representative Marjorie Taylor Greene (R-GA) echoed these concerns, arguing that the plan would benefit financial institutions at the expense of individuals, who would accumulate more debt over time.
An insider within the Trump administration reportedly referred to Pulte's proposal as "moronic," suggesting a potential rift among the president's team. Despite the backlash, President Trump defended the mortgage plan in an interview with Fox News host Laura Ingraham, downplaying the criticism and emphasizing the reduced monthly financial burden for homeowners.
The debate over the 50-year mortgage plan has brought to the fore various opinions about the future of housing finance in America, raising questions about the balance between immediate affordability and long-term financial commitments for homeowners.
