With the start of this new year, President Trump’s Administration has started proposing policies to lower housing costs. While there are ways to make homeownership more affordable, the Administration should stay away from one fatally flawed idea that’s been floated: introducing a 50-year mortgage into the market. This policy would saddle borrowers with a lifetime of high interest payments and slow wealth building through homeownership down to a snail’s pace. It may even exacerbate our housing affordability crisis.
