Core Viewpoint - President Trump's proposal for a 50-year mortgage is generating significant concern in real estate circles, particularly as the average age for first-time home ownership has reached 40 years old [1] Group 1: Criticism of the 50-Year Mortgage - Kevin O'Leary criticized the 50-year mortgage as a form of financial engineering, suggesting it effectively equates to renting since homeowners may never fully own their homes [2] - O'Leary highlighted that a 50-year mortgage could extend beyond a typical lifespan, with the average age of first-time homeowners being 40, implying that many may not live to see the mortgage paid off [3] - He pointed out that the long-term nature of such a mortgage would result in homeowners paying significantly more in interest, estimating that they would pay almost three times more interest compared to a standard mortgage [3] Group 2: Alternative Mortgage Options - The average sale price of a home is currently $512,800, emphasizing the importance of carefully selecting both a home and a mortgage [4] - It is recommended to consider 15- or 30-year mortgages instead of a 50-year option, with current fixed rates at 6.23% for 30-year mortgages and 5.51% for 15-year mortgages [5] - Longer mortgage terms, such as a 50-year mortgage, are likely to carry higher interest rates due to increased risk for lenders, potentially leading to situations where homeowners only pay interest without reducing the principal [6]

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