A new, Trump-sponsored variation on debt slavery—make mortgages virtually perpetual. From Eric Peters are ericpetersautos.com:
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.
AKA rent