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Speaker 1: Okay, so Trump is really all in on this fifty

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Speaker 1: year mortgage thing. And this is fascinating to me, by

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Speaker 1: the way, speaking of this, because this could have a

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Speaker 1: profound impact on our economy if they go forward with this.

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Speaker 1: Mark didel Our old Palo real estate guru, extraordinary MARKDDE

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Speaker 1: will be with us at ten thirty to kind of

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Speaker 1: talk about from the impact this might have on home buying,

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Speaker 1: on home selling, on the economy, all sorts of stuff.

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Speaker 1: So that'll be a fascinating conversation. But you know this.

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Speaker 1: He then sometimes with Trump, he'll say things and I

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Speaker 1: think he's sitting there like, oh, this will be funny.

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Speaker 1: It's like an episode of Impractical Jokers. Now I'll fill

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Speaker 1: in the blank. And he doesn't intend to do any

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Speaker 1: of it. Is that not part of his charm?

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Speaker 2: Though?

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Speaker 1: I think that's part of the appeal. It's also not

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Speaker 1: how you run a society as the president. Look, I agree,

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Speaker 1: but I'm trying to grapple and understand the popularity of Trump,

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Speaker 1: and that's that's one of his features.

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Speaker 2: So I don't know.

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Speaker 1: Well, there was some report I can't remember who did it.

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Speaker 1: I saw it on the internet. Was you know, some

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Speaker 1: one of these media outlets claim that so Paulty Bill

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Speaker 1: Poulty I think is the guy's name. He shows up.

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Speaker 1: He's the real estate guru and he's close, got close

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Speaker 1: with Trump. I can't remember if he has an official

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Speaker 1: position in the Trump administration or not. I think that's

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Speaker 1: the guy's name. Anyway, he shows up with this event.

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Speaker 1: The report says lose at mar A Lago, and he's

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Speaker 1: got he's pushing for this, and he has this sign

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Speaker 1: that says like or this post wart this says great

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Speaker 1: some of the great American presidents, and it's FDR with

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Speaker 1: the thirty year mortgage. And then it's basically like it's

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Speaker 1: somehow you know, saying the fifty year mortgage to be Trump.

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Speaker 1: And then it's whatever Trump ended up putting up on

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Speaker 1: social media and people are outraged at this guy did this,

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Speaker 1: and it's like, yeah, but shouldn't the president have more

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Speaker 1: self control if indeed that's the way it went down, Like,

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Speaker 1: shouldn't the shouldn't the president be able to see something

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Speaker 1: and go, oh, you know, I'm gonna I'm gonna think

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Speaker 1: about that.

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Speaker 2: A little bit.

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Speaker 1: I mean, especially when the direct comparison is between yourself

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Speaker 1: and FDR that's not an alarm bell sounding, but yeah, yeah,

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Speaker 1: Bill Poulty is the federal he's the director of the

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Speaker 1: Federal Housing Finance Agency and chairman of Fannie Man Freddy Mack,

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Speaker 1: so that yes, yes, he definitely is a position. And

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Speaker 1: what a wonderful institution. Fanny May and Freddie Mack are well.

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Speaker 1: I don't know if you're this way that it's so

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Speaker 1: hard because these administrations change over so much. It's so

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Speaker 1: hard to figure out who's in, who's out, who's just

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Speaker 1: an advisor, who's somebody officials? So yes, he would have

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Speaker 1: a massive say in this. By the way, according to Wikipedia,

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Speaker 1: he's thirty seven years old. He's pretty young. What are

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Speaker 1: we doing with our lives? We're here? Well, I want

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Speaker 1: to be here, so you know, I'm happy to be here. Okay. Anyway,

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Speaker 1: Kevin has a little So Trump was asked about this

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Speaker 1: about the fifty year mortgage. I think this was with

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Speaker 1: Laura Ingram on Fox News, and this is what he

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Speaker 1: had to say.

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Speaker 3: Housing costs are still out of reach, and another thing

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Speaker 3: that your administration is trying to tackle. Many Americans. The

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Speaker 3: average age of first time home buyers and now up

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Speaker 3: to age forty, which is sad the country you and.

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Speaker 2: I inherited that. Look, you have to understand, right, But

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Speaker 2: how's he.

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Speaker 3: Get to the Quinn question though? Because your housing director

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Speaker 3: has proposed something that has enraged your MAGA friends, which

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Speaker 3: is this fifty year mortgage idea, so a significant MAGA backlash,

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Speaker 3: calling it a giveaway to the banks and simply prolonging

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Speaker 3: the time it would take for Americans to own a home. Outright,

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Speaker 3: is that really a good idea?

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Speaker 2: It's not even a big deal. I mean, you know,

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Speaker 2: you go from forty to fifty years, and what other

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Speaker 2: reasons you pay? You pay something less from thirty that

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Speaker 2: some people had a forty and then now they have

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Speaker 2: a fifty. All it means is you pay less per

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Speaker 2: month you paid over a longer period of time. It's

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Speaker 2: not like a big factor. It might help a little bit,

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Speaker 2: but the problem was that Biden did this. He increased

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Speaker 2: the interest rates. And I have a lousy fed person

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Speaker 2: who's going to be gone in a few months.

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Speaker 1: Okay. He appears to have no idea how this works.

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Speaker 1: And like I said, Mark Degle's going to be with

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Speaker 1: us to tell us how this works. He appeared at

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Speaker 1: what appeared to be totally clueless, like he thinks there's

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Speaker 1: some forty year mortgage that people are getting that thirty

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Speaker 1: is now for most people, the pretty high standard, And

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Speaker 1: he just appeared totally out of touch with reality in

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Speaker 1: that response theory. You're not paying substantially less per month

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Speaker 1: with a fifty year mortgage. However, you are paying substantially

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Speaker 1: more for the value of your house over time. I

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Speaker 1: believe it's something like two to three times the value

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Speaker 1: with interest over time, especially we're a fifty year mortgage.

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Speaker 1: That's the part what you are encouraging, Donald Trump is

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Speaker 1: debt slavery. Yeah, and you've seen this and we'll talk

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Speaker 1: to Mark Diedle about this coming up at ten thirty.

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Speaker 1: You basically sort of had this and have had had

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Speaker 1: this and it was a disaster, which was those interest

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Speaker 1: only type loans, And that's you're basically renting. If you

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Speaker 1: have a fifty year mortgage, you're essentially renting whatever house

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Speaker 1: you're in and you're never probably the average versus never

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Speaker 1: paying that off. You're never going to live in a

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Speaker 1: house most people for fifty years or anywhere close to that,

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Speaker 1: and all the fees and everything else that are associated.

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Speaker 1: I mean, that's it's a recipe for disaster, especially if

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Speaker 1: you have some sort of downturn in the housing market

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Speaker 1: based on what you can or can't sell your home for.

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Speaker 1: And then also you're creating generational debt because in many cases,

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Speaker 1: when you're not paying off that mortgage, then it's your

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Speaker 1: family who will inherit that bill and continue to pay. Yeah,

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Speaker 1: I mean so again. We will do a very deep

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Speaker 1: dive on this coming up at ten thirty and find

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Speaker 1: out how this could impact not just the real estate

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Speaker 1: industry but Central Indiana buying and selling homes MARKEDIDO will

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Speaker 1: be with us for that