Trump made a fortune in real estate. Now he wants to help his banking buddies do the same. Had he wanted the People to afford housing, so they could be free to do better things with their money, he would have increased tax incentives for house purchases and house building. Instead He just wants to put generational debt onto the backs of the American People.
Trump made a ton of money in the real estate business, most of which came from laundering money for Russian Oligarchs and Russian Mafia through his condominiums and other projects.
This is not conspiracy theory or mindless drivel. Books have been written about this subject.
The fix was in. You can try to convince me that Schumer was not in on the deal. His whip (not running in 2026) was a leader in the GOP CR passing. Jeanne Shaheen is also not running. Tim Kaine was safe. What a tangled subterfuge. https://hotbuttons.substack.com/p/pieces-of-8-shit?r=3m1bs
Policymakers are willing to do just about anything except address the underlying issue that more and more Americans are not earning enough to be able to afford basics such as food, healthcare, shelter, childcare, and higher education.
The effects of Trump's tariffs have yet to fully kick in. Increased prices for Canadian steel and timber, etc. coupled with a shortage of housebuilding crews freshly deported by ICE, is going to put new house prices through the roof. Then once you've got a house, Trump's sixing of new renewable energy projects coupled with all those new data farms--is going to mean paying insane utility bills.
History is not going to be kind to Trump's idiotic economic policies...
I can't wait until next November, when the GOP gets utterly trounced, and a raft of investigations into Our Most Corrupt President Ever can begin, starting with his Crypto scams.
The WSJ had an editorial today saying the 50 year mortgage was a bad idea and suggesting he drop the tariffs on Canadian softwood lumber and bathroom cabinets.
Interesting discussion of one of our most pressing problems, which should be expanded to include rents. It seems there is no way to “build wealth” in our society except at the expense of someone else. In the current administration, the adversarial attitude to fairness is aggravated by people whose attitude towards solving conflicts is profane and combative.
The one thing I like about the Trump presidency is that it brings other sociopaths like Bill Pulte out of the woodwork and into the public eye. Also, if he happened to get punched in the face, I don't think it would be a net loss for humanity.
Pulte knows exactly what he’s doing. Leveraging his ‘in’ with the WH to propose a big money maker for the family business. Pulte homes not only builds & sells its homes but its finance company is there to offer offer buyers financing.
I suspect getting favored fawner status is why he created the “mortgage fraud” angle to go after DJT’s political enemies. He knows all about how that works too. Seems as though those allegations ended after it led to Michigan “revising” taxes on one of his parents’ homes.
When people get ARMs or balloon payments they get a lower interest rate often accompanied by a sales pitch that they can refinance down the road. In this case down the road is another lifetime!
“Pulte previously founded an investment firm but is best known for amassing a large following on X as an online philanthropist, giving away money in a series of viral stunts.”
Mr. Beast for Boomers. By the way, wasn’t he also involved in the accusations of mortgage fraud as a gunned up excuse to remove Lisa Cook from the Federal Reserve board?
This mortgage idea really is villainous. One more way to fleece young people already burdened with crippling debt. Just as with healthcare we either control the cost or we capsize.
Interesting note on this. One expert suggested that the first 10 years of a 50-year mortgage without additional payments would go solely to interest. This means homebuyers will build little to no equity for over a decade.
And ripe for another subprime mess like the early 2000's? This time initiated by our "president". At the moment and in my lifetime I can't think of any corporate business that hasn't turned into a swindle.
Thirty years wasn't picked out of a hat randomly, People typically buy their long term home in their late 20's early 30's, meaning a 30 year mortgage should be paid off a few years before retirement and the home now provides a nice nest egg to fund it. Fifty years, well... we knew they don't intend for us to ever retire, so this is just further support of that idea.
Late 20s/early 30s may have been the typical age for first-time home buyers many years ago--and maybe in low cost of living places it still is--but with suppressed wages for many, the loss of union jobs, and the insanity of housing prices in HCOL areas, PLUS many are still paying off their student loans in their thirties, the age of the first-time homebuyer is climbing. My spouse & I--an educator & social sector worker, respectively--bought our house in a HCOL area in our forties because the above-mentioned factors, plus childcare costs (daycare/preschool) meant we were never able to save much. It seems to me that the current administration is hellbent on a working class and middle class that is always in debt, always struggling, working multiple jobs just to survive--that way, we'll be too tired to protest.
And to people who blithely say "move out of state where it's cheaper"--to what jobs? and why should I have to move out of MY home state and away from my kids' grandparents, aunts, uncles, cousins? Why is the work my spouse and I do--important work for the communities we live in--so devalued? People really need to think about "just move away" before they say it. It's not the panacea they think it is. And it reeks of "I got mine, you go get yours--but somewhere else."
Yes, there is an old management theory that you keep people working and scrounging to survive so they do not have time or energy to find another job or devise an escape route.
The 30 yr mortgage was chosen was “many years ago.” A 50 yr mortgage is not a cure. It’s worse than renting because you are saddled with huge debt into the foreseeable future & possibly beyond while very very slowly accumulating equity.
Pulte’s family business (known as Pulte Homes) has a mortgage finance business. It would stand to make a bigger fortune if it became reality & people fell for it.
People have blithely told others to relocate for generations and abandon the people they care for. In hard times they are often not welcome elsewhere. Just ask Appalachians. But that is not what the article is about.
I think the problem is that houses (and lot sizes) are too big for the typical family size. It seems we are locked into a problem where higher housing costs lead to multi-generational households which leads to a desire for ever more rooms in the house to allow this. We need to reverse this trend or else the typical family (2 adults, 2 children) will never have their own place. The answer is zoning reform. The main reason we have a zoning problem is that it's being used to keep out minorities and lower middle class people.
Typical lot sizes for homes has shrunk because developers can build / sell more homes on less land. I think larger lots is a very specific problem maybe prevalent in certain areas is are multi- generational housing which is not viewed as a problem by everyone.
It could be true but I have no idea what you consider ‘too large.’ Lot sizes & the size of a development - where there is zoning - are almost always regulated except in rural areas that don’t like zoning. In urban and suburban areas population density is a big consideration because when you increase density in an area it increases the need for services and infrastructure.
Builders want to put up more 2-story single family homes because they fit on smaller lots & cost less $$ while appealing to deeper pockets to make more money. I think this & caregiving responsibilities lead a lot of people to live in multi-generational homes. But zoning specifics vary by community & their zoning master plans for development.
I’m guessing that Bill Pulte made a comment to djt and with no vetting it was posted to TS. We had 40 yr amortization mortgages for some large residential mortgages before the peak of the MBS market collapse and many of us remember how that went….
Trump made a fortune in real estate. Now he wants to help his banking buddies do the same. Had he wanted the People to afford housing, so they could be free to do better things with their money, he would have increased tax incentives for house purchases and house building. Instead He just wants to put generational debt onto the backs of the American People.
Trump made a ton of money in the real estate business, most of which came from laundering money for Russian Oligarchs and Russian Mafia through his condominiums and other projects.
This is not conspiracy theory or mindless drivel. Books have been written about this subject.
Everything about Trump is Fraudulent.
The fix was in. You can try to convince me that Schumer was not in on the deal. His whip (not running in 2026) was a leader in the GOP CR passing. Jeanne Shaheen is also not running. Tim Kaine was safe. What a tangled subterfuge. https://hotbuttons.substack.com/p/pieces-of-8-shit?r=3m1bs
Policymakers are willing to do just about anything except address the underlying issue that more and more Americans are not earning enough to be able to afford basics such as food, healthcare, shelter, childcare, and higher education.
They would be more than happy to address this issue if they saw a way to line their pockets.
The effects of Trump's tariffs have yet to fully kick in. Increased prices for Canadian steel and timber, etc. coupled with a shortage of housebuilding crews freshly deported by ICE, is going to put new house prices through the roof. Then once you've got a house, Trump's sixing of new renewable energy projects coupled with all those new data farms--is going to mean paying insane utility bills.
History is not going to be kind to Trump's idiotic economic policies...
I can't wait until next November, when the GOP gets utterly trounced, and a raft of investigations into Our Most Corrupt President Ever can begin, starting with his Crypto scams.
I SO HOPE you're right!
The WSJ had an editorial today saying the 50 year mortgage was a bad idea and suggesting he drop the tariffs on Canadian softwood lumber and bathroom cabinets.
Interesting discussion of one of our most pressing problems, which should be expanded to include rents. It seems there is no way to “build wealth” in our society except at the expense of someone else. In the current administration, the adversarial attitude to fairness is aggravated by people whose attitude towards solving conflicts is profane and combative.
The one thing I like about the Trump presidency is that it brings other sociopaths like Bill Pulte out of the woodwork and into the public eye. Also, if he happened to get punched in the face, I don't think it would be a net loss for humanity.
Of course, his advisor (Pulte) isn't an expert. MAGA is violently allergic to expertise and knowledge.
Pulte knows exactly what he’s doing. Leveraging his ‘in’ with the WH to propose a big money maker for the family business. Pulte homes not only builds & sells its homes but its finance company is there to offer offer buyers financing.
I suspect getting favored fawner status is why he created the “mortgage fraud” angle to go after DJT’s political enemies. He knows all about how that works too. Seems as though those allegations ended after it led to Michigan “revising” taxes on one of his parents’ homes.
https://wrenews.com/report-bill-pultes-father-and-stepmother-claimed-primary-residence-on-2-different-homes/
I don't think that's a win for anyone. Sociopaths need to know this kind of thing is unacceptable.
The 50 year mortgage preys on those who don't understand economics (or basic math) , which explains why those in power want to dismantle education.
When people get ARMs or balloon payments they get a lower interest rate often accompanied by a sales pitch that they can refinance down the road. In this case down the road is another lifetime!
“Pulte previously founded an investment firm but is best known for amassing a large following on X as an online philanthropist, giving away money in a series of viral stunts.”
Mr. Beast for Boomers. By the way, wasn’t he also involved in the accusations of mortgage fraud as a gunned up excuse to remove Lisa Cook from the Federal Reserve board?
This mortgage idea really is villainous. One more way to fleece young people already burdened with crippling debt. Just as with healthcare we either control the cost or we capsize.
Yes, he also accused Lisa Cook.
https://www.theguardian.com/us-news/2025/sep/07/bill-pulte-fhfa-referral-mortgage-fraud-lisa-cook
And it seems the ‘referrals ended after his parents appear to have been caught in the reporting. Michigan “revised” their tax bill. — https://wrenews.com/report-bill-pultes-father-and-stepmother-claimed-primary-residence-on-2-different-homes/
Wow!
Interesting note on this. One expert suggested that the first 10 years of a 50-year mortgage without additional payments would go solely to interest. This means homebuyers will build little to no equity for over a decade.
Trump turning billionaires into trillionaires while making needy Americans go hungry & selling 50 yr mortgages/lifetime debt as housing “affordability...transferring wealth to the wealthiest & inflicting pain on the vulnerable. https://www.youtube.com/watch?v=s6ud4-JUg2g https://www.youtube.com/watch?v=3mQfYSDhMHs
The day is coming when we will start seeing vast "Trumpvilles," much like the Hoovervilles of the 1930s. There are already small ones.
Fascinating report! We are leaving our youth a swindled mess.
And ripe for another subprime mess like the early 2000's? This time initiated by our "president". At the moment and in my lifetime I can't think of any corporate business that hasn't turned into a swindle.
Thirty years wasn't picked out of a hat randomly, People typically buy their long term home in their late 20's early 30's, meaning a 30 year mortgage should be paid off a few years before retirement and the home now provides a nice nest egg to fund it. Fifty years, well... we knew they don't intend for us to ever retire, so this is just further support of that idea.
Late 20s/early 30s may have been the typical age for first-time home buyers many years ago--and maybe in low cost of living places it still is--but with suppressed wages for many, the loss of union jobs, and the insanity of housing prices in HCOL areas, PLUS many are still paying off their student loans in their thirties, the age of the first-time homebuyer is climbing. My spouse & I--an educator & social sector worker, respectively--bought our house in a HCOL area in our forties because the above-mentioned factors, plus childcare costs (daycare/preschool) meant we were never able to save much. It seems to me that the current administration is hellbent on a working class and middle class that is always in debt, always struggling, working multiple jobs just to survive--that way, we'll be too tired to protest.
And to people who blithely say "move out of state where it's cheaper"--to what jobs? and why should I have to move out of MY home state and away from my kids' grandparents, aunts, uncles, cousins? Why is the work my spouse and I do--important work for the communities we live in--so devalued? People really need to think about "just move away" before they say it. It's not the panacea they think it is. And it reeks of "I got mine, you go get yours--but somewhere else."
Yes, there is an old management theory that you keep people working and scrounging to survive so they do not have time or energy to find another job or devise an escape route.
The 30 yr mortgage was chosen was “many years ago.” A 50 yr mortgage is not a cure. It’s worse than renting because you are saddled with huge debt into the foreseeable future & possibly beyond while very very slowly accumulating equity.
Pulte’s family business (known as Pulte Homes) has a mortgage finance business. It would stand to make a bigger fortune if it became reality & people fell for it.
People have blithely told others to relocate for generations and abandon the people they care for. In hard times they are often not welcome elsewhere. Just ask Appalachians. But that is not what the article is about.
I think the problem is that houses (and lot sizes) are too big for the typical family size. It seems we are locked into a problem where higher housing costs lead to multi-generational households which leads to a desire for ever more rooms in the house to allow this. We need to reverse this trend or else the typical family (2 adults, 2 children) will never have their own place. The answer is zoning reform. The main reason we have a zoning problem is that it's being used to keep out minorities and lower middle class people.
Typical lot sizes for homes has shrunk because developers can build / sell more homes on less land. I think larger lots is a very specific problem maybe prevalent in certain areas is are multi- generational housing which is not viewed as a problem by everyone.
Minimum lot sizes are included in some zoning rules and that's the issue where size can be too large.
It could be true but I have no idea what you consider ‘too large.’ Lot sizes & the size of a development - where there is zoning - are almost always regulated except in rural areas that don’t like zoning. In urban and suburban areas population density is a big consideration because when you increase density in an area it increases the need for services and infrastructure.
Builders want to put up more 2-story single family homes because they fit on smaller lots & cost less $$ while appealing to deeper pockets to make more money. I think this & caregiving responsibilities lead a lot of people to live in multi-generational homes. But zoning specifics vary by community & their zoning master plans for development.
And a math-illiterate public will probably buy this. We will really feel the loss of a functioning Consumer Finance Protection Bureau.
Trumps corruption of government is insidious and spread to the lowest levels. It may take a decade or more to scour the ranks of criminals.
50 years mortgages; A bankers' dream.💰
“Bessent reportedly threatened to punch Pulte “in the fucking face.” Get in line Scott!
I’m guessing that Bill Pulte made a comment to djt and with no vetting it was posted to TS. We had 40 yr amortization mortgages for some large residential mortgages before the peak of the MBS market collapse and many of us remember how that went….