In an interview with Truth Social Post and Fox News, Donald Trump has introduced the idea of a 50-year mortgage in the US, suggesting it could make home ownership more affordable for Americans. But daily show Host Josh Johnson isn’t convinced.
In the clip above from Tuesday’s show, the host pulled out a graphic calculating that a six percent mortgage on a $400,000 home would mean about $300 less per month in payments than a 30-year mortgage, but more than $800,000 in interest over the lifetime of the loan.
“So you’re saying that after interest, a $400,000 mortgage will cost me $1.3 million?” Johnson says. “This is the opposite of affordability. This guy is creating generational debt. They’re going to struggle to get Outside Grandmother’s will. The grandkids will be like, ‘I barely knew him, okay? “I wouldn’t even hug him at Christmas because his skin was so loose.”