The amortization schedule really tells the story. With a 50-year mortgage, buyers wouldn't build any equity. Fortunately, looks like the WH is backing off and blaming this bad idea on Pulte. But another proposal, 15-year car loans, might be coming ... yikes.

After 5 years, you will have paid between $133k and $150k in interest. But less than 5% of that will have gone to principal. You're basically just paying rent, tying up your down payment, and unless the market goes up, you're underwater when you sell because of agent fees.

Let's look at the math. Say you have 4 options: 15,30, and two options for 50 year mortgages (one where interest is same as 30, one higher.) Take a look at how much more interest you have to pay with a 50-year mortgage.

This idea preys on the unfortunate consumer tendency to buy a monthly payment instead of buying the underlying asset (like a home or a car). If that monthly payment is mostly interest, you're not paying down the principal. That's the big problem with 50-year mortgages.

No, it's Alston v. NCAA. www.supremecourt.gov/opinions/20p...