Trump and his billionaire class co-conspirators have come up with a way to make housing more “affordable” again – via 50 year mortgages.
The plan – these people always have a plan – was divulged on X yesterday. The Director of the Housing Finance Agency, Bill Pulte, says there is a “clear historical basis” for extending home loans to half a century, citing the 30-year mortgage initiated during the de facto dictatorship of Franklin Roosevelt – who would have remained president for life if Adrenochrome had been around back then.
Of course, most people will never live long enough to ever pay off a 50 year note, which is just the point or – rather – the purpose.
The system is being fine-tuned to eliminate the possibility, even, of most of us ever not having to make a monthly mortgage payment by extending these payments to basically forever, insofar as the human lifespan is concerned. Sign up for a half century loan at 25 – and by 75 you might just have paid it off. Just in time to check out of this life – after having spent your life making those payments.
The 50 year indenture is marketed as a way to make buying a home more “affordable” – and there’s a little truth in that, as there always is whenever a stupendous lie is brought forth. 
Yes, the monthly payments will be “less.” But the truth is you’ll be paying effectively forever. Meaning, you will be in debt effectively forever. And that is precisely what’s wanted.
This system of perpetual debt service requires it. They want people to never stop paying until they are dead or damned close to being so. They do not want people – meaning us rather than them – ever not having to work to make payments. They do not want us accruing assets to speak of.
What is wanted – from us – is liabilities, forever.
This entails keeping us working until we are dead – or damned close to being so – in order to make those payments. Paying “our” taxes is a big part of this, too. Including the property taxes added to the mortgage that are already there (and that literally never end) that assure you will never own your home anyhow, because you will still have to pay those taxes even if you manage to pay off the 50 year note.
When – if – you finally do pay off the note, you are not likely to live much longer and so won’t be a liability (to the government) for long insofar as Social Security payments are concerned. You might collect for a couple of years before you shuffle off to the hereafter. All the payments – styled “contributions” you made while you were working to make those mortgage payments the past 50 years disappear on your death day, too. Your spouse – if she is still alive – doesn’t get a dime beyond a one-time “death benefit” that might pay for a cardboard box and a no-frills cremation. 
Your usefulness is then at its end – like an old draft horse sent off to the glue factory.
Also, by dint of having to pay a mortgage payment basically forever, you will have less money available for most of the rest of your life to pay for other things, which will become less affordable as a result.
But never mind!
You will think you are not a debt-slave because you have a home, even though you are in fact a renter-for-life. This is a way of enabling the rubes to pretend to themselves that they aren’t enslaved to lifetime debt and that is important, in terms of keeping the machine running.
And there is nothing more important than that.
. . .
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The
50-yearPerpetual IndentureThe Ukrainian war situation has developed not necessarily to our advantage:
‘Millions of people in Ukraine are facing darkness and cold. From now on, they will have 16 hours a day without electricity. Large parts of power generation infrastructure have been damaged or destroyed, as has a fifth of heating capacity.’ — Nico Lange
Russian troops have totally ‘cauldroned’ Pokrovsk. Map:
https://understandingwar.org/wp-content/uploads/2025/11/Pokrovsk-Direction-November-9-2025.webp
The ~$150 billion spent by Uniparty leaders ‘Joe Biden’ and Orange Man Bad on this useless foreign war was all borrowed. Since the US fedgov’s debt endlessly rises, it’s a perpetual indenture on every child in America.
Fuck the war. And fuck the warmongers of the Uniparty, including the renowned war hero (in his own deranged mind) Generalissimo Trump.
I’m gonna tell you fascists
You may be surprised
The people in this world
Are getting organized
You’re bound to lose
You fascists are bound to lose
— Woody Guthrie, All You Fascists
Generalissimo Trump did not start this war. For all his faults – this one is not on him.
I am also curious – how do you see the connection between the war in Ukraine with the “Perpetual Indenture” as you put it? I mean, I know it’s always JEW$ and all of that, but really? What’s the connection?
It’s true that Trump did not start this war. However, during his campaign, he promised that he would end the war in one day. He probably could have done this too, if not in one day, then within a week. He could have done this simply by cutting off all military aid and money to the Kiev regime. This would have strongly incentivized Ukraine to sue for peace with Russia. Instead, the US continued to provide weapons and money to Ukraine, providing the regime with the incentive to keep the war going. By doing this, tens of thousands of Ukrainian soldiers have been killed in a futile war that Ukraine cannot win. Ukrainian men are being dragged off the street by Ukrainian goon squads and sent to the front with minimal training to be killed. Trump could have stopped this. He chose not to, so the war drags on, more soldiers are killed, and more infrastructure is destroyed.
Regarding your question about what is the connection, you really can’t figure this out? The US government has sunk about 200 billion dollars into this stupid, murderous war. This money comes right off the printing press, generating inflation which lowers the standard of living of the American public and causing interest rates to rise as foreign creditors flee from the fiat dollar. Perhaps if the US government were not spending a trillion dollars a year on “defense” to keep the wars going and to maintain the empire, the American standard of living would rise and people would be able to afford homes without taking out a fifty year mortgage.
“He could have done this simply by cutting off all military aid and money to the Kiev regime. ” — Trump has cut it, you are not informed
Morning, AG –
Do you not recall that Trump ran on a specific promise to end the war in Ukraine on “day one”? How many days are we at now? Instead of ending it – as by defunding it – he continues to enable it to drag on by continuing to fund it. And – yes – he could stop that. He is very fond of executive orders. Don’t give me any procedural non sequiturs. Just order the funds ended. The public support for this is – as Trump often says about other things – huge.
The vile little man who is the “president” of Ukraine would come to the table 24 hours later.
Eric, et al,
You are misinformed. Trump has stopped all new direct aid to Ukraine.
The deal which is in effect now – the EU partners of Ukraine buy American war materiel and supply it to Ukraine, but it is not US tax funded.
As to Trump promise to end the war – well, he promised many other things. And it would appear Trump despises the vile little “president” of Ukraine even more than you do. Trump also has done his best to butter up Putin and not to provoke a wider war.
But ultimately, there is very little that Mr.Trump could have done.
The Russian forces possess full superiority and maintain the initiative, and to Putin’s political advantage to bring this to a full Ukrainian defeat, and perhaps even an official capitulation. This will cement his image in Russia as a true emperor commanding awe and admiration. And the more men will burn burnt in this war the greater the glory. That’s russian mentality.
The little man in Kiev is holding on for his dear life, literally. Toward that goal his is throwing away thousands of lives. And dodging Trump’s pressure to compromise.
This is all a great tragedy. But hanging it on Mr.Trump is completely unjustified.
I think the facts say otherwise:
“As of early March 2025, the U.S. paused all military aid to Ukraine following a public dispute between President Donald Trump and Ukrainian President Volodymyr Zelenskyy, with the White House stating the pause was to ensure aid contributed to a peace solution.The suspension included deliveries of ammunition, vehicles, Patriot missiles, and precision-guided weapons, affecting both new and previously approved aid.
However, by March 11, 2025, the Trump administration announced it would immediately resume military aid and intelligence sharing after Ukraine expressed openness to a 30-day ceasefire and signaled commitment to negotiations. While aid was briefly halted, the U.S. has largely continued delivering military assistance committed under the Biden administration, though no new funding has been sought by the Trump administration.”
No new funding is not the same as ending funding.
“The deal which is in effect now – the EU partners of Ukraine buy American war materiel and supply it to Ukraine, but it is not US tax funded.”
In other words, war material is still being supplied to Ukraine with American weapons, it is just being given to Ukraine by the EU rather than being given directly to Ukraine by the US. The Kiev regime has no reason to care whether they receive the weapons directly from the US or indirectly through the EU. Either way, they are still getting the weapons, which continues to incentivize them to keep the war going.
If the US government really wanted to stop the war, it would stop selling the weapons to EU so that the EU could no longer supply American weapons to Ukraine. Trump doesn’t care that Ukraine continues to be supplied with American weapons, thereby keeping the war going, as long as the US gets paid for the weapons. That’s just a bonus. More money to the US military industrial complex. Who cares how many more Ukrainian men have to die and how much more Ukrainian infrastructure is destroyed, as long as the money continues to flow into the MIC.
I don’t disagree with you. For Trump it’s just another hustle
There’s no such thing as good debt. History of Oliver Tractor & its demise is a nice metaphor.
https://www.youtube.com/watch?v=j27ve4zZp18
In reading about the exponential rise in claimed disabilities from our ‘Murican troops I found that in quite a few states they are exempted from paying property taxes. One of those states is good old Virginia.
Mortgage means death pledge, literally. You either pay it off, or they take it back when defaulted. At 50 years, a 20 year old will pay off at 70. The math says that most 50 year debts will default.
Hey J,
I just learned that last night. I always thought that “mortgage” sounded suspect. I thought it was something like “death clock”, but “death pledge” doesn’t sound any good either.
After 40 years, you only paid half the debt off.
In all fairness, FDR *was* “president for life”…he was elected 4x and only left office when he died…
…it has been suggested, by some, that the Cheeto-in-chief may attempt to do the same…who knows…
Ahh yes, the payments that never end, a bankers dream!
Japanese banks offered 100-year loans back in the 80s, when the combined ‘value’ of just Tokyo’s real estate exceeded that of the entire US.
I’m surprised Trump hasn’t gone for the full 100.
Or maybe 101.
Just to be the ‘biggest & baddest’.
Yeah, I remember reading about those “intergenerational mortgages” back then.
They elites told us that we’ll own nothing and be happy. Good to see that they have the own nothing part worked out.
I have 2 words for you: hedonic adaptation.
BaDnOn [1:27 pm] and Steve had a discussion below about mortgage maff. Mathematically, setting a level monthly payment to reduce the principal to zero over 30 years produces exponential curves, in which early payments go mostly to interest, and later payments mostly to principal. Chart:
https://www.mortgageprofessor.com/wp-content/uploads/2024/02/payment-principal-and-interest-chart.png
One can imagine two variations. In the first, a constant amount of interest is paid off each month. Then, instead of being level, the highest monthly payments occur at the beginning, making such a mortgage harder to qualify for.
Likewise, a different mortgage can be designed in which monthly payments linearly increase at 2% or 3% a year. This conforms to the normal pattern of steady inflation and rising income over time. But it requires the principal amount to grow in the early years of the loan, making borrowers more vulnerable to negative equity if house prices turn down.
Our legal system, developed during the gold standard era, does not contemplate increasing principal. Clowngress could easily provide for such rising-payment mortgages, making qualification easier. The downsides are: (a) inflation would be entrenched as a norm; and (b) easier finance drives house prices still higher.
Gold — the pet rock, the barbaric relic — could fix all that by taking currency creation out of the hands of venal central banksters, a/k/a currency counterfeiters. This was once a capital offense. And, Dog willing, may be again after the crack-up.
This system existed in Switzerland for a long time but was suppressed recently I think. Loans were extended for life. people owned their house but knew they could never repay the loan and eventually the banks got the house (plus the interests).
Of course children had to refuse inheritance if they didn’t want to keep paying.
As you write, our home never belong to us because of the property taxes which should be illegal (and maybe didn’t exist before 1913).
Beating the system means having nothing. Or at least nothing visible. Nothing that the racketeers could see.
Living off the grid for a start or appearing as being so dirt poor that they” leave you in peace.
Underground low profile so to speak.
Too bad everyone only looks at what the monthly payment is and not the total amount they will end up paying, which is usually 3X the price of the house if they carry it to the end. People who have to move every few years for their job or whatever are really getting shafted since the first several years of mortgage payments are setup such that you pay mostly interest and hardly any principal, so you are always enriching the banksters while barely building equity for yourself. Whoever came up with that amortization schedule is truly an evil genius.
Yep, Mike. Pay all of the future compounded interest first. Fucking rotten whores is what they are.
Yup, cars too. And why I doubled down and skipped lots of things to get out of the car loan game. I’ve been paying cash for cars for over 20yrs, and guessing I’ve saved over 30K.
You can view this as what you’re saving and what you’re starving to death by no feeding it. A true win win.
The housing market will crash absent an “innovation” such as the 50 year mortgage or another first-time buyer home credit of, say, $20k putting a $700k floor under anything capable of passing inspection within an hour of a major metro.
Here in Texas, the real estate market is already on life support, kept alive by the Legislature using budget surplus funds to pay a percentage of property tax bills in a “reform” scheme known as “rate compression”.
Absent “reform” passing and several constitutional amendments passed by voters in 2023, the property tax bills and 6%+ loans would have cratered this market a long time ago.
On the bright side, my niece and her husband were able to move out of a rented apartment and buy a condo in South Austin this year, thanks to the ongoing price crash. Fortunately neither of them commutes more than a mile to work in Austin’s ghastly traffic.
In the thread below, Horst Muhlmann identifies Trump as the 4th worst president, after Lincoln, Wilson, and LBJ, who actually murdered his predecessor. All three of them were large-scale mass murderers of American soldiers. So far, Trump is rather puny on that scale, having murdered an Iranian general, supplied arms for the mass murder of Gazans, and now murdering smugglers with aerial strikes.
Trump is a Führerprinzip president, in office only to inflate his boundless ego, with no regard for the future of his party or country. Thanks to the Orange Oaf, signing a hundred executive orders on the first day in office is the new norm. On January 20, 2029, the new D-party president may sign many hundreds of executive orders: the first batch to nullify every act of Trump, and a hundred more to implement full communism.
If our future communist government chooses to allow the R-party’s continued existence, it will be solely as a controlled opposition to maintain the illusion of democracy. This is how it was from 1954 to 1994, when Democrats were a permanent majority in the House, and Repugniclowns could only shake their tiny fists from the peanut gallery.
Myself, I favor annihilating the R-party the same way the Romans demolished Carthage, leaving no trace that it ever existed. Then, having singled out the only remaining enemy, we can fight the communists without being diverted and conned by the lying, feckless, coprophagic clowns of the socialist R-party, with their shit-eating grins that make you want to punch their teeth in.
Bwa ha ha ha … STIMMY CHECKS!
“A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,” Trump posted on Truth Social, adding that tariffs have brought in “trillions of dollars,” and that 401(k) accounts are the “Highest EVAHHH.” He also claimed that the tariffs had caused “No inflation.”
“People that are against Tariffs are FOOLS!” he continued. — zerohedge
Better buy that used vehicle now, before prices go up like they did in 2021. Who’s your daddy??
Yeah, I saw that too this morning, Jim. Speaking of financing, it seems like the Orange Lord doesn’t understand such matters or how the ‘Rona “stimmies” aggravated inflation.
Of course others will argue that it’s all part of the Tangerine Scheme.
I’d really hate to think he doesn’t understand, being the BK King he is. But then again, being so changeable is part of his shtick, so one cant really tell. Seems like he’ll do anything to keep the Ponzi going a little longer for his daughters friends..50 year ARMS would be a windfall to the banking tribe.
Trumps at times, seeming lack of intelligence reminds me of the H.L. Mencken quote; ‘As democracy is perfected, the office of the president represents, more and more closely, the inner soul of the people. We move toward a lofty ideal. On some great and glorious day, the Palin folk of the land will reach their hearts desire at last, and the White House will be adorned by a downright moron.’
Morning, Norman!
My quick take on Trump is that he is an amoral, intellectually non-inquisitive narcissistic grifter who does what he feels “works” – in the moment – to the extent it benefits himself. I see nothing to indicate he has any core principles; at least none he can articulate or that he won’t compromise. He is a kind of Babbitt – the king of the Babbitts.
It has paid well, too.
Mencken described his type as “sordid.” The grasping/wheedling type who is defined by his vulgarity and greed above all.
Good morning, Eric
Trumps back and forth changeability seems like a strategy. To keep adversaries off balance he changes between playing wanna be stable genius, and a rain man/forest gump type character.
I think you’re on to something with Trump being the King of Babbitts. The Sinclair Lewis, 1930s Babbitt fits as an archetype for Trump. I’d morph that with the Rain man character, who, IIRC was also named Babbitt. One was a real estate developer, the other retarded. Bout sums Trump up. Not really the type you want leading a dangerous empire through its collapse phase. Especially when he toggles between aspirational destruction of the DS and complacency toward everything except expanding his personal portfolio.
Always thought it ironic when I was young that our Arizona governor was named Babbitt. Course in those days, politicians were all given normal character roles to play.
The sad part is, if he had principles and a spine, in addition to everything else (even his many other faults) he could’ve been truly great. Mount Rushmore great. But nooooo….
Yep, He could’ve been a contender. Instead he’ll be remembered as Israels greatest cheerleader.
Methinks the Bad Orange Man is floating the notion of stimmy checks because things on the economic front aren’t going well and he doesn’t want another blue wave in 2026.
Yes. A secondary reason is that if Trump loses on the tariff cases in the Supreme Court, he will need Clowngress to enact those tariffs. You know, as the constitution specifies.
Oh, the devils of finance…
It’s so insidious how something as seemingly simple as a mortgage and its interest rate deceives.
Most people, I would argue, and especially younger people, look upon something like a $200,000 loan at 6% interest and calculate that the interest will be $12,000. Of course, only the most ignorant simpleton would think that this is actually the case, but it should be *close*, right?
No, not at all. How affordable would it be to pay off your $200,000 mortgage at $1,000 month for 16 2/3 years if you could just pay 6% on every payment? It seems fair, does it not? Why, that would be $60 per payment, making it $1,060/month.
But when I did that math on the first and only house on which I got a mortgage, the actual interest rate, stated in simply understood terms, was about 122%. And the stated rate was about 3% at that time. I brought that up to the mortgage agent who laughed it off, stating that if I paid it off in 1 year, the rate would be ~3%.
Suffice it to say, much more money is made from financing than from selling houses.
Think of if people could build their own house on their own land, little by little, and pay for no such loan.
Why, it’s easy to see why THAT is forbidden in most places, is it not?
Don’t take this the wrong way, but you think there are that many people who don’t understand that APR means Annual Percentage Rate? And that 6% APR means you are committing to pay a little more than 1/2% of the entire outstanding balance each and every month? That in your example, that’s a grand, so only whatever your payment is above that goes towards principal?
Jeez, no wonder so many kids end up with 6 figure student loans.
Steve,
You find my lack of faith disturbing.
But yes, I think for many people, and again, especially young people, maff is hard, and their lofty goals and visions cloud their computations.
I think that if it was out there in big, bold font, something like “TOTAL INTEREST = 150%, TOTAL COST OF MORTGAGE = $120,000, TOTAL COST OF HOUSE + MORTGAGE = $320, 000”, it MIGHT make a difference. Instead, the first time a buyer might see that shit is in the contract before them, ready to sign, and by that time, they’ve committed.
Then again, maybe the only thing the common folk care about is that monthly payment.
As for me, I’m done. I’m going to stealth in my off-grid house little-by-little and will never take out a loan again, the gods willing.
Indeed, Steve –
I don’t deny that those who sign up for such bear responsibility for their choice. That said, there is something (to me) inherently despicable about this choice even being on offer. It represents a truly cretinous, exploitative mindset. Legal? Sure. But scum of the Earth, regardless.
Sorry for the huge black pill on a Sunday, but this kind of thing, (50 Year ARMS) wouldn’t exist if tanks had been allowed to roll, and the banks had been allowed to fail in 2008. Again in 2019, the banks were failing. This time Covid was invented to save the day. The next fail, which will probably destroy our over-leveraged currency is coming in hot…Gold and silver are shouting the truth from the trading pits. The paper class will call in every chit to be bailed out. All it would have taken to avoid this outcome was a few bankers, politicians, and media chiefs with nail guns to the head, or, spending even just a few years in the iron bar hotel.
It’s disgusting how the America I grew up in has become a place where politicians and insiders steal millions in plain sight and never go to jail. These people never face consequences. Yet for 99% of us, stealing a loaf of bread, making a bad meme, questioning an election, driving without proper papers, or throwing a sandwich in a cops face can call down the full wrath of THE LAW. It becomes our duty in times such as these to ignore THE LAW in its unjust application and convince a critical mass of others to do the same.
Failures are the seeds that generate future success. Our Garbage Elite. has become so soft and coddled they cant imagine life without a backstop. They’ve convinced themselves they’re indispensable. The greatest rulers that ever lived. They tell stories about how they failed and came back, how they scratched and struggled for their success. But thats all it is, a bullshit story. If it’s not the government (AKA tax donkeys) bailing them out with 0% funny money, it’s their parents who handed them the keys to the country club. They convinced an entire generation (the Boomers) and to a lesser extent GenX that they were, and are the masters of the universe, and everything they say is gospel. Truth is, they’re nothing more than a thousand or so families who own the information and front for the lying, murdering, soft handed, inbred faggots who now run every country.
Makes me sad to root for systemic failure and epic collapse upon the country I love. At this point, it seems like the only way out of this mess.
Well said and viscerally felt, Norman!
A house built on paper will collapse with the slightest breath. Even the three little pigs knew that.
Sad to say I feel much the same way. I was just thinking about how so many of the whooping cheering USA! USA! Warhawks ( which includes some of my family members) really need some bombs to fall on their heads to wake up from their ignorance. Defeats on the other side of the world (Vietnam, Afghanistan, Iraq) just were not enough.
Not a good place to be.
WTF is “Warhawks!”, Metal Queen? No, I haven’t looked it up.
I thought of just yelling the titles of Slayer songs at the end of my statements.
“Yeah, sure, I’ll round up my total to make a donation. WAR ENSEMBLE!!!”
“Warhawks” is just a term I use for war cheering “hawks” mostly who describe themselves as “conservatives” but conserve nothing.
And “War Ensemble” by Slayer is a great song \m/
Hell yeah it is, MetalQueen. Also, I was mistaken. People (conservatives) are going around saying “War Eagles!”, whatever that means.
Watching all the teary eyed Lee Greenwood lovers agitate for dropping bombs on brown people, just because Israel says so is pretty gross and disgusting
The only ones in our family still cheering for war are older than us. The same ones who wouldn’t be affected. The kids, grandkids, cousins, nieces, nephews for the most part are really starting to understand. If you could boil it down to one thing it might be Smedley Butler, ‘All wars are banker wars.’
So many easy solutions to fix what ails us, Stop wasting money killing people who did nothing to us and breaking their stuff would top my list. Term limits. No one over sixty in politics. Everyone in congress gets zero privacy. All addresses of the properties they and their family own displayed on one web site for anyone to see. And, anyone who advocates for murdering people under the banner of USA-USA should be, regardless of age, race, or special tribal status, rounded up, given a rifle, and dropped off inside Israel, Venezuela, Nigeria, or the Ukraine.
Not everybody of my generation is so clueless as to cheer all of the perfidious actions of the Imperial U.S. government. IMO, people like Lindsey Graham, Tom Cotton, Randy Fine, Donald Trump et al should be handed a rusty SKS rifle and shipped off to the front lines in Ukraine.
Our problem in the U.S. is that after the so-called civil war, nobody living here has actually experienced any of the direct effects of war…..nobody has seen entire families destroyed remotely by drone technology…..nobody has experienced 2000 pound bombs dropped in our cities….nobody really has gone hungry and cold during a wickedly cold winter……our population largely consists of a brainwashed collective of uber consumers most of whom have never produced a god damned thing that the market values.
I don’t reckon that any generation is immune to the effects…..my customers of all ages are actually feeling the effects of all the bankster scams…..some of them are just realizing though the extent of the anal reaming we are all receiving…..
I do realize not everyone in your generation is clueless Giuseppe. As evidenced by who shows up here and the few other places like this. One good thing about social media is its made those under 40 almost completely dis-interested/detached from the legacy media and their lies. This has led to many starting to see the lies of those of those in power, who champion the cause of leading us to ruin.
Our entire country, with few exceptions is soft, clueless, and lacking in useful skills. The thing I notice about those in my family over 70 is they all wake up to an instant CNN, NSNBC, or FOX News suppository. It’s got to where you cant even talk politics without them becoming unhinged. The good ones, sadly, the uncles that went to Vietnam, built wildly successful businesses, and traveled the world extensively, all died young.
I saw a cousin who I hadn’t seen in over ten years recently. His three teen-aged children are all very informed and impressive. Seeing teenagers that didn’t look at their phones once, watch the TV, or spout stupid shit in the couple hours we spent conversing, was kind of encouraging.
It does make you wonder, Norman, where this country would be if the system had been allowed to crash in 2008? Would we be better off now? Would the economy (and the rest of us) be limping along now the way we are, or would all of us had a better future in general? I guess we will never know, because even Trump will inflate this system as long as possible, and then pray he is not the poor bastard in charge when it all crashes and burns, and takes the rest of us down with it.
IDK Shadow, I like to relate things to nature when I can. Letting things crash and burn in 08 would have been like the proverbial forest fire, which in its aftermath gives us a stronger, more resilient forest.
‘Average mortgage rates were approximately 4.1% in the 1950s, ranging from a high of about 6.4% in 1950 to a low of about 2.6% in 1959-1960.’ — AI Overview
Inflation popped to 6 percent in 1950 and 1951, thanks to Harry Simp Truman’s idiotic Korean war. [Now we do middle eastern permawars, thanks to little Shitrahell.] But since the US was still nominally on the gold standard in 1950, with silver coinage and silver certificate paper currency, it receded quickly.
Expectations of price stability allowed for a 2-5/8% mortgage rate in 1959-1960 — basically a fair return for a lender being repaid in dollars of constant purchasing power. But under our degenerate fiat currency regime, the Federal Reserve targets a minimum 2 percent inflation rate, with frequent bursts higher. Currently it’s 3.0%, based on patently fake CPI data using ‘Owners Equivalent Rent’ instead of house prices.
Pulte’s 50-year mortgage scam is a lame diversion from the $38 trillion-in-debt US fedgov’s utter dependence on perpetual inflationary money printing, simply to create the thin-air dollars needed to service its hopeless Debtberg.
Trump and Pulte are sleazy used car lot swindlers in plaid suits. In a civilized society — that is, a gold standard society with a rock-solid currency — they would be under arrest and facing capital charges.
Friends, you get some silver?
Did you get a little gold?
What did you bring me, my dear friends
To keep me from the gallows pole?
— Led Zeppelin, Gallows Pole
Offering the option of a 50 year note doesn’t make it so. It’s the widespread acceptance of same that is the problem. Same with cars. Back in the day, 1 year was the longest timeframe you could get. So cars were priced such that it was possible for people to pay off in a year. It was because enough people were willing to sabotage their future to have it now. Housing, same.
Housing is still affordable on cash flow if you build yourself, have realistic expectations, and don’t lock yourself into a high-priced lot. You have to look at your fellow man for the solution.
Just because you have a 50 or 30 year note does not mean you have to take that long to pay it off. The one time I had a mortgage, I took it at 30 years, just in case. Paid it off in 10 years. There could be a penalty for doing such. The loan I had did not have one.
Yo Missura…
I scored a doable Krash pad in North St. Louis county (Woodson Terrace) just south of the airport….(March 99)….,”Specs”…
815 sq ft + full basement , plus attic….50K
10k down (no PMI)
$345.71/ monthly with a 6.38 mortgage….would have been 22k interest over 15 years…
I got pissed off when money markets were returning .05% INTEREST?????:?
Thus, Fuk it ,run it…I wrote a check to the credit union and said BURN the MF….
Debt free since 2003….
GO TIGERS… IN YOUR TAIL..:)
Trump loves to give lip service to his legacy. His legacy is this: He’s the 4th worst president in US history.
1) Lincoln/Wilson
2) Wilson/Lincoln
3) LBJ
4) Trump.
That’s right TACO. You’re worse than Cheney, Obummer, and Creepy Joe. I’ll even throw Heels Up in the mix. He’s worse than she would have been. Don’t worry. You still have 3 years to pass Johnson.
Iwould’ve put FDR above LBJ, Horst. So many of the alphabet agencies, SocSec, the New Deal… So much evil arose during his terms.
You’re right. I completely forgot about Roosevelt. He’s number 3.
This fits very nicely into the subscription model.
It seems that government and these billionaire freaks don’t want the masses to be able to afford anything, such as REAL FOOD, an automobile, a home, REAL healthcare, coffee, etc. And I read yesterday that the globalist elite and climate change zealots are going to try to shove global carbon taxes down the masses’ throats using the courts to do so, using the BS excuse of CLIMATE CHANGE. As I’ve said before, people who STILL belieeeeeeeeeeve the cliiiiiiiiiiiiiiiiiiimate change narratives are royal chumps; possibly the same people who STILL wear face diapers everywhere, though this time they might also think they’re “Stopping the spread of CO2”, as the dreaded carbon dioxide comes out of their noses every time they exhale.
Hi John,
The only way around this is the build up small communities, neighborhoods, and families. We need to solidify into groups with people who share our common values. No individual is going to win being an island.
On the other hand, which is easier for the “cowboys” to round up: a single herd of like-minded cattle…or a million cows going in a thousand different directions?
Well, let me know how one man fares against 10 agents vs 100 like minded people who are willing to fight for their ground.
I wish you good luck.
You are assuming they have only 10 to throw at it. How many hundred did they find who were thrilled to be able to kill the Branch Davidians? And got medals and commendations for doing it?
Or they could always use the LaVoy Finicum model, which required far fewer hit men…
Hey, Steve, how about they just throw a bomb over the area then they don’t have to send in any agents?
This is the exact reason I don’t proclaim to be a libertarian, although I do agree with most of the agenda. Libertarians will sit in a circle and agree on 95% of something, but throw a hissy fit because they can’t agree on 100%.
If each of you men believe you will be able to grow enough food, protect your compound, manufacture your own tools and supplies, handle the day to day operations, and possess enough security to be an Army of one…go for it! You don’t need no other men (or women), bro. 👍
Not what I said, @Raider Girl. If you cannot amass as many and as deep (including Hannity, for instance) as the first Bundy standoff, you have no chance. And, as they showed, all they have to do is let you “win”, wait for it to become yesterday’s news, then they can destroy you at their leisure.
You are assuming they are coming after you. This country is large with areas that still don’t have access to cell phone towers and Internet. I am not advising starting a cult or even announcing to the world that this is being done. I am merely making the point it becomes a lot easier to support one another and protect one another if we create strong families and communities who are willing to have each other’s backs.
In the midst of a collapse (which has already started) in this country it is unlikely that Uncle Sam is going to be sending in unpaid agents to gather supplies. We are talking anarchy, no central government and straight outlawism. Small communities have a better chance of survival than individual households.
I have very little idea what the disagreement is. I replied to your comment that 100 could stand up to 10 agents. Which may be true, until they call in reinforcements (c.f., Montana Freemen, for example) or hop in the pickup and head to town, like Finicum. Realistically, you can’t go everywhere with your posse.
I know libertarians hate the idea, but withdrawing is not going to fix the problem. Like it or not, you have to engage with the system as it exists. Nothing would make them happier than people going galt.
Wrong. Going along with the system is what got us into this mess. Going Galt is our act of survival. If 20% of this country didn’t stand up to “shots in every arm” in 2020 and the other 5-10% who refused to mask would have this country still diapered to the hilt and every small business shuttered. It was the few that woke up the many.
One doesn’t announce going rogue…they just do it. We should not be forced to participate in a system which believes we are all replaceable and our natural rights a privilege.
“If 20% of this country didn’t stand up to “shots in every arm” in 2020 and the other 5-10%…”
But that was more or less visible. I suspect there are more than 5% with libertarian tendencies, but, like Thomas Massie points out, you can’t prove it because libertarians rarely stand up to be counted.
Well said, RG. The last thing you want are big showy movements with easily identified leaders. What you need is loosely associated, like minded folks.
I am as radical as they come, but people know me as a very laid back do nothing small town mayor who would rather talk to you and smooth over a problem than call goons. (Assuming I had goons to call on).
You can do a lot worse than emulating “Our Thing”, minding your business and staying off the radar. Another model is of course the outlaw bikers, who may not be off the radar but still mind their own.
The Mormons and the Amish seem to do a pretty good job of avoiding The Man™.
But that’s mostly due to a carve-out in the constitution allowing them to claim religion as a lifestyle. They’re still subject to taxation with even less representation… and subject to the same oppressive behavior within their own community.
I can’t speak to the Amish, and have always avoided the Mormons (except for one girlfriend whe presumably didn’t cleave TOO closely to the tenets) but the Hutterites i know we’ll do a remarkable amount of business in cash and barter. They’re good folks to know…
Indeed, Ernie, and they always had good chickens with which to buy from, as well.
Well, RG…
What you do is to properly prepare, pray to Crom, and then cut those bastards down one by one.
Because in the end, the only thing that anyone will remember is that few stood against many.
True BaDnOn,
I did read the Gulag Archipelago and I agree with Solzhenitsyn’s point. First one to bust down my door gets a 12 gauge to the face, and whoever else is behind him. Of course it will be the end of me as well but that’s a hill I’m willing to die on, hopefully preserving some freedom for my kids and grandkids.
Hey Mike,
At least history does remember the plight of the Kulaks and the horrors of “communist” (It goes by many names, like Satan) authoritarianism. The truth is, I, and I’m willing to bet you, are actually very peaceable people. Until it’s time to not be. And when the goons are out being unreasonable, unjust and unaccountable, it’s the duty of free men to make their jobs difficult before it comes to gulags.
Hi Mike, that may be the end for me, as well. Like you, however, better to go out fighting than submit and be a FEMA camp slave just to save my life. I have seen plenty in this life, and made peace with death long ago. At some point every one has a hill he or she will (or will have to) die on.
Amen, Shadow –
I feel the same way. I do not have a death wish. I would greatly prefer to live out the rest of my life in peace, pursuing the things I like to do. But if the choice is to continue living just for the sale of maintaining a servile and pathetic life – or die trying to live – I will take the latter option.
People’s “net worth” is tied to the equity in their primary residence. Politicians don’t want cheaper houses, they want more “net worth.”
The 50 year mortgage could be a useful tool to get into a home, but only if you’re ready to refinance to shorten that time when you start earning more money. Too many people look at the monthly payment (as they’ve been trained to do) instead of looking at the amortization schedule. Then when they want to refinance or move, they just pick up another mortgage just like the last one.
My brother in law is one of these people who would be quick to take out a 50 year mortgage just because he can. Then refinance and extend for another 50 years. He’s retired and still paying a mortgage. My sister is still working (a constant sore spot in the marriage) because the money that should be going to retirement expenses is going to the bank instead. And he’s got my nephew already playing the mortgage game, getting him to buy a vacant lot in the neighborhood with the idea of building a house next to dear old dad -why should a 19 year old kid tie himself down to a suburban home? I could understand if it were some productive land like a gentleman’s farm where he could grow some “cash crops” or keep a few cows (or start a commune with some hippie chicks), but not a tract house in a declining town. He tells me his reasoning is that the currency will be devalued due to inflation, which is true, but it’s never going to devalue more than the interest rate. He’s also betting that he can get a better return on his other investment schemes. But he forgets about that pesky amortization schedule.
Not even going to mention all the closing costs.
Yep. Just because the instrument exists doesn’t mean it’s a good idea, nor that you should avail yourself of it. Buy now, pay later is largely a self-destructive mindset that exists because people choose it.
50 v. 30 years does not provide much of a monthly “savings.” A $500k 30yr mortgage at 6% is $3,372.75 per month. At 50yrs, it’s $3,007.02. And, after this becomes an option, housing prices will end up rising as a result of the increased monthly “affordability.”
We are in a time where the only assets that will remain are those that are passed down through the generations. Today’s child will find it almost impossible to purchase a home or car. Americans need to rethink how we look at life. The days of Little Johnny and Susie living with Mom and Dad until they are eighteen and then getting married and moving out are over. “Individually owned” homes are gone, only “family homes” is the only way around “you will own nothing and be happy.”
Amen, RG –
Only the bastards will likely try to find a way to end that, too, as via an inheritance tax. Oh. Wait. They already do that!
But the very people who will be making payments to Jewish billionaires and oligarchs on 50-year loans are panicking that a Muslim “communist” won in New York City, because they want their “capitalism” and their “free markets.”
The “conservatives” have been fed a line of bullshit. They believe that they are “free” when in fact they are not.
I’m not a commie, but I’m not stupid enough to believe that the so-called “free markets” aren’t 100% rigged against us peasants.
I agree with you, X –
And I also think people in general are beginning to see, too. My hope is that Communism does not prove to be the “answer.”
It will not, Eric. Oh, at first, the idiot masses who equate Communism as getting “something-for-nothing” will think it is great when it eats everyone not poor and destitute (or just plain lazy) like them. But once the means and distribution of products and services halt, they will be looking to blame the rest of us for the failures, because we all know they cannot possibly be wrong about Communism this time around, either. For it did not work the last however-many-times it has been tried.
New York City has been a jewish shylock landlord’s dream as they control most of the multiple-family housing stock. The excessive rents charged for substandard housing is merely more shekels in the effendi’s pocket.
Jews hate the concept of gentiles owning their own homes.
Black Rock has been purchasing single-family homes at inflated prices just to keep them off the market.
Mamdani is just what NYC needs.
You sound like Bernie Sunders and Richard Wolff – the last people you should be caught sounding like because they are Jews
Mandami is a Muslim. Their religion takes usury prohibition seriously. I recently had a Muslim plumber who told me he couldn’t buy a house because he’s not allowed to pay interest:
“Riba, often translated as interest or usury, is strictly prohibited in Islam. The Qur’an states: “Allah has permitted trade and has forbidden interest…” (Qur’an 2:275). This prohibition aims to prevent exploitation and ensure fairness in financial transactions. Scholars agree that any guaranteed interest on loaned money is considered Riba and is thus forbidden (El-Gamal, 2006″
https://fundingsouq.com/ae/en/blog/islamic-view-of-debt-lending-borrowing/
They are also required to pay back debt promptly. I am not sure how they get ahead, but maybe like Raider Girl was advising and way many immigrants do, buy multi-family / multi-generational housing.
They no longer necessarily run their governments that way, but any little bit would help US which has largest debt in the world and no urgency at all about repaying or any type of plan to do so. In fact, just continues to rack up more and more debt.
https://www.pgpf.org/article/what-are-interest-costs-on-the-national-debt/
When you have arrogated to yourself the ability to print notes denominated in something of your choice, no amount of debt is the problem. You always have the option of printing up 38 trillion “dollars” of notes and simply paying them.
Of course, to avoid nuking the world economy you would have to complete the swindle by making the 38 trillion uncollectable, perhaps rights to shares of the Titanic, or some icebergs, or perhaps to half of the earth’s atmosphere.
Once you accept this, there is no immorality in grabbing as many million or billion in government grants as you can get. I’m finding myself about there, there is just no point in scrabbling for honest business any more.
Speaking of taxes, I wonder if hiding the property tax burden in the monthly mortgage has anything to do with why voters are eager to vote for higher property taxes all the time. “For the children” as long as it doesn’t attract attention. And since borrowers don’t see the property tax in one lump sum, instead spreading it out over 12 months, the big ballot initiative increases don’t register.
Preach it! The same reason income taxes are what they are. Because you don’t have to bust out the checkbook and sign on the front on tax day. Out of sight, out of mind.
Aaah yes, “for the children”. Out beloved (cough, cough) state legislature passed a $1,000 spending increase “…for the children” for education earlier this year, and over rode the governor’s veto on the bill. Never mind we spend more money per pupil than in the entire nation, and we rank 49 on the list of 50 in terms of how smart these students emerge from 12 years of dumbing down. Fast-forward to now, and the newspaper has had to report a drop in the number of enrolled students this term despite the increase in funding. Too bad we cannot get our money back.
“For the children” my butt.
When property tax increases are on the ballot you can be your last dime that the GovCo parasites will be out in force, led by the [non] education system.
Look at the largest employers in almost any area and it’s usually:
1 – Schools
2 – The County GovCo
3 – The City GovCo
As has been said, the system we have works until people figure out they can vote themselves largesse…always stolen from the Productive Class.
BINGO!
Eric: “What is wanted – from us – is liabilities, forever.”
Nailed it right on the head. If you have major loan payments; is your ability to resist pressure from GovCo greatly diminished?
The next time they try something similar to five years ago just ask yourself how hard it would be too resist if you had high loan payments.
Thanks, Landru!
And: You’re right. One of the reasons why I was able to say FU to the Face Diaper Nazis was that I own my ow business and so could not be fired by someone else for not “masking up.” But if they are able to leverage the power of keeping a roof over my head over me, then the choice to refuse becomes harder.
Not only government, but it also keeps you a productive worker. Real estate is a horrible investment if you’re trying to stay mobile and play the IBM “I’ve Been Moved” corporate ladder game. It adds another variable into the mix if you have to sell a house after you get promoted.
It also makes it harder to leave or downgrade your job. I had a fairly high pressure PITA job that paid ~$45/hr plus mandatory 26 weeks of on-call pay, regular overtime of 3+ hours a week (usually more) and a fairly horrible work-life balance. When I left I was able to take a year off, regroup and then take a very regular 8:00-17:00 M-F with lots of paid holidays position. Sure it pays a lot less, and I miss having a pile of cash in the bank, but I’m so much more relaxed now. I own my home outright (except for the property rent tax), and so I can afford the “luxury” of a dead-end but dead-simple job until I can pull from my 401(k).
True dat. One of the reasons why unemployment crested 10 percent and took so long to recover after the 2008 crisis was that people couldn’t easily move to find new jobs because they owed more on their houses than they were worth, and getting a new mortgage was much harder.
“Eric: “What is wanted – from us – is liabilities, forever.”
Of course. That’s a great business model. Endless cash streams. Kind of like WOPR/Joshua learned in WarGames, the only way to win is not to play. How about a nice game of chess.
Everybody wants to be the cable company. “Subscribers” instead of “customers,” always paying more and more just because.
Never having competition either, because the up-front cost of overbuilding is so high with the ROI being so variable. Even if a competitor does somehow emerge their costs are identical+capital pay down so there’s not going to be significant price differential.
Close. Everybody wants to be government, with the ability to tax as much as they want from impotent peasants.
The other day the teevee morning news was reporting that new home sales were down. With a median new home price of $400k+ and mortgage interest rates over 7% were to blame along with (I couldn’t believe my ears when they said it) PROPERTY TAXES!!!
So, it seems to be that even the local news outlets can no longer ignore the reality of taxation and its deleterious effects on life.
“The power to tax is the power to destroy.” McCulloch v. Maryland, US Supreme Court (1819) (penned by the odious Chief Justice John Marshall prohibiting the State of Maryland from taxing the Fed at the time, Bank of the United States).
So it’s perfectly acceptable and necessary to tax citizens, but when one government tries to tax another, it’s deemed prohibitively destructive. Oh, I get it now.
Hi Mark, in my neck of the woods there are two homes that normally would have been gobbled up by now. Out of curiosity, I looked at both. One is $480,000, the other $500,000. The 500K is not worth the price, with a “Master Bedroom” so small you might be able to get your bed in there. The other looks nice, but you have to slap $80,000 dollars down for a down payment, and the basement is entire unfinished. Not for that much money, thank you. I want a finished basement for nearly half a million. And, as you say, with the high interest rates, home ownership is out of reach for most.
From Eric: “Your spouse – if she is still alive – doesn’t get a dime
beyond a one-time “death benefit” that might pay for a cardboard
box and a no-frills cremation.”
The above may be a myth encouraged by Social Security – I believed it.
Death “benefit” check from SS – $200, then no further communication.
Had an inkling to confirm action, went to SS office, belatedly. Well, yes
sir (surprise) you’re entitled to spousal benefits. But through due diligence
we have found ways to pay you less. We must deny hard-working
citizens, whenever possible. “Look back” for SS benefits is six months
only. I will not be paid the $50k, deserve/owed.
Recommend going to SS office within six months of spousal death.
They have 100-year loans for farmland in Nebraska.
I find that hard to believe. The Feds have a maximum term of 40 years under FSA and I doubt a private lender is going to stick their neck out beyond that.
https://dts.fsa.usda.gov/programs-and-services/farm-loan-programs/farm-ownership-loans/index