urbanSTL

Pretty much pick your newsfeed or pop up and there will be a write up on 50 year mortgage proposal being floated.   Reuters link below as example

Any thoughts?  I have mixed bag- On one hand my dad has been in his house for 55 years and going.  So for some people it might be the difference to finally able to pass on generational wealth in this environment going forward.  But will take a long time and a lot can happen for those who would barely make the payment day in or day out unlike my dad who paid off his 30 year early.  On the other hand, how much of it is really just a rent check but in form of the landlord being a mortgage company selling it off to one of the Fannie's instead of private equity.  

https://www.reuters.com/business/financ ... 025-11-11/

Looks like another pathway for intergenerational theft.

dbInSouthCity wrote: ↑

Nov 11, 2025

Ridiculous that I wasn’t selected

DB is his own biggest fan. 

dredger wrote: ↑

Nov 11, 2025

Pretty much pick your newsfeed or pop up and there will be a write up on 50 year mortgage proposal being floated.   Reuters link below as example

Any thoughts?  I have mixed bag- On one hand my dad has been in his house for 55 years and going.  So for some people it might be the difference to finally able to pass on generational wealth in this environment going forward.  But will take a long time and a lot can happen for those who would barely make the payment day in or day out unlike my dad who paid off his 30 year early.  On the other hand, how much of it is really just a rent check but in form of the landlord being a mortgage company selling it off to one of the Fannie's instead of private equity.  

https://www.reuters.com/business/financ ... 025-11-11/

It's incredibly stupid and evil. There is no question that it's a horrible idea and would be horrible policy. In a real country, something like this would cause revolution.

framer wrote: ↑

Nov 11, 2025

dbInSouthCity wrote: ↑

Nov 11, 2025

Ridiculous that I wasn’t selected

DB is his own biggest fan. 

I mean my resume on this topic is deeper than all of those people combined- i worked in the City's zoning department, I was City's conditional use hearing office, i served on the board of adjustment, i  was involved in development of the update to the signage code subsection and in development of special zoning sub districts. 

^ & ^^^ I think idea is literally getting called out as bad on all sides of political spectrum.   Wall Street editorial board even called it a bad idea but had to find a creative to call it bad because taking & giving bankers your money is never bad in there world.  

 

dredger wrote: ↑

Nov 12, 2025

^ & ^^^ I think idea is literally getting called out as bad on all sides of political spectrum.   Wall Street editorial board even called it a bad idea but had to find a creative to call it bad because taking & giving bankers your money is never bad in there world.  

 

I don't even think banks want this. It's that bad of an idea.

KSDK did the math, the increase in interest just means you end up paying more for the house in the long run.  Example, if you end up paying 3x the value of the loan with 30 years, you pay 5x the value of the loan in 50 years.

dbInSouthCity wrote: ↑

Nov 12, 2025

framer wrote: ↑

Nov 11, 2025

dbInSouthCity wrote: ↑

Nov 11, 2025

Ridiculous that I wasn’t selected

DB is his own biggest fan. 

I mean my resume on this topic is deeper than all of those people combined- i worked in the City's zoning department, I was City's conditional use hearing office, i served on the board of adjustment, i  was involved in development of the update to the signage code subsection and in development of special zoning sub districts. 

If I recall correctly, the selection was done by lottery after the application period, so I don't think there was any slight to your experience. Was that the best approach? I don't know. But it doesn't matter now. There are also some working groups/ technical advisory groups that I don't believe have been filled up, so there still could be a good spot for your informed input beyond the typical public input opportunities. I have been approached about potentially being a part of one of them, but I haven't heard anything in 2-3 weeks.

No one will force a 50-year mortgage on the consumer. The consumer will still have a choice.

The consumer can choose to pay cash too, right?  And nothing unscrupulous ever happens in the mortgage industry.

"Baltimore, eyeing a ‘renaissance,’ passes a slew of housing reforms.

The city is reducing red tape for development by eliminating parking minimums and allowing single staircases in certain buildings."


https://www.multifamilydive.com/news/ba ... ge/804908/

Not really for the 50-year mortgage, but what is magic about 30 years? Why not 20 or 40?  I know you can get a 15 or 20 year home mortgage, but why is it OK to go to 30, but that is it? Or, why didn't we stop a 15 or 20 years.

TalkinDev wrote: ↑

Nov 12, 2025

Not really for the 50-year mortgage, but what is magic about 30 years? Why not 20 or 40?  I know you can get a 15 or 20 year home mortgage, but why is it OK to go to 30, but that is it? Or, why didn't we stop a 15 or 20 years.

30 year was done as a reform to make housing more accessible in the Great Depression. In today's market, it is still definitely too long. But it isn't nearly as bad as 50 years.

TalkinDev wrote: ↑

Nov 12, 2025

Not really for the 50-year mortgage, but what is magic about 30 years? Why not 20 or 40?  I know you can get a 15 or 20 year home mortgage, but why is it OK to go to 30, but that is it? Or, why didn't we stop a 15 or 20 years.

Sir, this is Wendys 

The "over-financialization" of our economy has killed small business the last 50 years.   It has also made the average family overly reliant on various forms financing for things that should be affordable without debt or little debt.  The 50 year mortgage would be another example.  Horrible idea.  

Its annoying as hell how so many things are sold on a "subscription basis" these days.

I remember when BMW tried to sell cars with heated seats but you had to pay a subscription if you want to turn them on

framer wrote: ↑

Nov 12, 2025

Its annoying as hell how so many things are sold on a "subscription basis" these days.

Completely agree.  Cutting the chord was now a wasted; I pay more for HULU, Netflix, Peacock, Paramount, Disney etc.  And we also subscribe to Amazon, Walmart and Target?!?  I hope the consumers are able to eventually end this.

I hope the consumers are able to eventually end this
short answer torrents pluto tv etc

If you want all of that and a person well qualified to execute on it, that salary needs to be $225-300k. With this, they’ll have to settle for a less experienced and younger person who wants to prove themselves. May work

dbInSouthCity wrote: ↑

Nov 13, 2025

If you want all of that and a person well qualified to execute on it, that salary needs to be $225-300k. With this, they’ll have to settle for a less experienced and younger person who wants to prove themselves. May work

Totally agree. You are getting someone at the lower/middle management level from the private sector at that salary, or someone who has worked in economic development on a much smaller scale.

In the new newsletter they define what the new zoning districts will be (on the last page). Looks like it will get rid of single family zoning, the least dense category allows 2 units + an ADU. I hope they don't cover too much of the city with a 3 story height limit. https://www.zoup-stl.com/newsletters

Love to see the scrutiny of gas stations. They shouldn't be near homes, schools, hospitals, etc.