Extending mortgage terms to 50 years might seem like a helpful solution for those struggling with high housing prices. On the surface, it appears beneficial: monthly payments decrease by approximately $119. However, the downside is significant: the total interest paid nearly doubles over time. This is a substantial compromise. Consider this: paying more in interest ...
The idea of 50-year mortgages is making waves in the housing market. This plan, backed by the current administration, aims to make home buying easier by stretching loan payments over a longer period. The goal is to lower monthly costs, helping more people qualify for loans and buy homes. But not everyone is on board. Critics argue that longer loans mean more interes...
The idea of 50-year mortgages has sparked a heated debate online. This proposal comes from the Trump administration, aiming to make home buying easier. Critics argue it could lead to more debt, while supporters see it as a way to lower monthly payments. Home ownership is a big deal in the U. S. Many people struggle to buy their first home. The average age of first-t...
Zohran Mamdani, a 34-year-old Democratic Socialist, has become a sensation among young voters across the United States. His campaign for New York City mayor focuses on affordability, resonating with many who feel ignored by traditional politicians. Lea Ash, a 26-year-old Democrat from Mississippi, is one of many who see Mamdani as a beacon of hope. Despite living far...
In the United States, Democrats are focusing on a big issue: the high cost of living. This is a major concern for many people. Three Democrats are running for office and are making this issue central to their campaigns. They are Zohran Mamdani, Mikie Sherrill, and Abigail Spanberger. They all want to help people deal with rising prices. Mamdani is running for mayor ...
Peter Schiff, a well-known economist, has some strong opinions about why buying a home in the U. S. is becoming increasingly difficult. He points the finger at two big names in the housing market: Fannie Mae and Freddie Mac. According to Schiff, these institutions aren't helping people afford homes; they're actually making it worse. Schiff explains that by increasin...
Buying a home has been tough lately. Prices keep going up, and so do mortgage rates. But there's some good news. Experts think things might get better by 2030. First, let's talk about what "normal" means. A home is usually considered affordable if it costs about 30% of your income. That's the standard. Back in 2018, things were pretty balanced. Mortgage rates were l...
The U. S. Federal Reserve has been printing a lot of money lately. From 2019 to 2023, they added over $6. 3 trillion to the economy. This has made things more expensive, including prescription drugs. People without insurance or with low incomes are hit the hardest. Bitcoin is different. It has a fixed supply. This means its value is more predictable. Some scientists...
New York City has always been a beacon of opportunity. It's where many families, like those of Zellnor Myrie, came to build better lives. Myrie's parents moved from Costa Rica nearly 50 years ago, seeking work and a brighter future. They found it in New York, where Myrie was born and raised. He attended public schools, eventually graduating from Cornell Law School. H...
First-time homebuyers are facing a tough market. Prices and mortgage rates are high. This can make it hard to find a good deal. But, there are ways to make it easier. One big factor is where you choose to buy. Some places have lower prices and more options. This can make a big difference in how much you spend. A recent study looked at 180 cities in the U. S. ...