X @Joe Consorti

The 50-year mortgage is how they're making homes more "affordable" for young people, without lowering asset prices for boomers.Housing makes up 60% of the average American's portfolio—it is politically protected.More homes would mean lost elections. So, debt slavery it is.Joe Consorti (@JoeConsorti):This barely moves the needle on housing affordability.A $500k mortgage would be ~$3,160/mo over 30 years and $2,793/mo over 50 years.Just an 11% reduction in the monthly payment + an additional $538,200 in inter ...