“You won’t lose the house. Everybody has three mortgages nowadays.” – Ghostbusters
What do you call a woman who sets her mortgage on fire? Bernadette.
I think we can mark November, 2025 as the time when everyone under 40 officially became a tenant in the People’s Republic of Rent. Remember when “owning a home” meant apple pie, picket fences, and fighting with the HOA over the definition of lawn ornaments and why your butter statue of Adrienne Barbeau was definitely not prohibited?
Yeah, that’s as gone as dialing a phone number and not having to listen to someone blabber in a foreign language about what number to press so that illegals can live here easily and comfortably.
Now?
Housing has morphed into a Wall Street rent farm, where millennials and Zoomers wheelbarrow their student loans in a feeble attempt to bid against hedge funds and the latest border-crossing brigade. A free market? Sure, but it’s a free market where Pee Wee Herman has to box Mike Tyson.
Trump highlighted the problem with a misstep: his genius plan for 50-year mortgages while comparing himself to that MAGA hero . . . FDR?
I mean, it is a plan that is ultimately worthy of FDR. That is, if kids like dying with a noose of interest around their necks.
It’s dark. A 50-year mortgage is crack for the financially illiterate. It shaves off a few hundred dollars a month in interest payments to delay actual ownership of the house for fifty years. Some anon did an analysis. On X®, Darth Powell (@vladtheinflator) did a decent analysis. It’s below:
The new pickup line: “Are you a house loan? Because I’ll have you around for the rest of my life.”
Double the interest paid. And even worse, since people often sell after seven years or so, they never build up any real equity in the house, just paying off interest. Oh, and did I mention that they’re floating fifteen year car loans?
Yeah. Though people have been getting damaged on cars for quite a while.
She was really thankful to them, she even said, “I don’t know how I’ll ever repay you!”
Debt is a drug. It gets something now, for selling a bit of my life in the future, sort of like selling myself into indentured servitude. And housing is, while not a necessity, something that makes it easier to have a family. I myself have a mortgage. I could pay it off, but it’s at such a low interest rate, there’s not a good reason for me to do so since the interest rate I’m getting on that amount of cash higher.
Yay!
But Robert A. Heinlein had a quote: “Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats of domestic felicity.”
He’s right. I’ve made the point before, and I’ll make it again: money and banks exist for us to do things in the real world. To manifest them and the markets as tools of profit is really the biggest infection our society has right now. To be clear – it’s possible to make any sort of bet that one would like to make in the market. It’s gambling. And in the end, go back to the beginning: the first rule of gambling is that The House always wins.
I could never get a loan for the distillery I wanted to start. They said it was a whiskey business.
Letting The House make the decisions is why we are in this mess. Americans are too wealthy an don’t take on enough debt? Import poor people! They need debt, so we can sell debt to them!
A major reason that there are unending streams of illegal and legal immigrants flooding the shores of this nation like EBT users showing up at the soda pop and chip aisle after the SNAP benefits reload is that they are profitable.
What about the current situation isn’t perfect for banks? Large numbers of consumers taking loans longer than the life of the asset. I recall that one gentleman I was acquainted with owned a large number of apartments. He described that is, “It’s like I have an army of slaves. They go out and work, and every month they give me money that they worked for.”
That is how banks think of everyone, even their mothers. What about 2025 is something they don’t like? Owning all the houses? Having millions work hours each week just to pay interest?
They love 2025.
They don’t particularly care about the outcome or if they destroy all of Western Civilization, as long as there’s a quarterly profit in it for them.
What could go wrong?
Again, illegal and legal aliens are being subsidized both via direct welfare like SNAP, but also through programs like FHA loans. Not all of our problems with housing are downstream of immigration, but most of them are.
The most fundamental step is remigration. Voluntary, involuntary, it doesn’t matter. They need to go home. And, you can help. At least for the next three years, ICE is actually trying to get rid of illegals, so report them. They have quotas, so help them. Also, don’t be polite to them. They may be humans, sure, but they can be humans somewhere else.
Second, don’t buy products from companies that have replaced Americans with H-1Bs. This is harder since once an Indian gets in a company, their only goal is to go full Invasion of the Body Snatchers and replace everyone with Indians of their family (if possible) or caste (if they can’t hire their family). It’s like the Mafia, but without deodorant. Let your politicians know, especially if you’re living in a red state. Not about the deodorant bit, but about the replacement bit.
