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First Sip
Welcome to "First Sip," the podcast that fills your cup with curious conversations around ways to improve your personal & professional lives. I'm Dekimbe Smith, your host, and each week I dive into different topics that sparks the curiosity of the "Average Joe" that wants more.
Whether you're looking for tips on getting your life together, or strategies for building wealth, First Sip has something for you. So grab your drink, press play, and as always... enjoy your first sip!
First Sip
Could a 50 Year Mortgage Make Homes Affordable Again? (No, but let’s talk about it) | Ep. 142
People are talking about this new idea for a 50 Year Mortgage. Lower payments, easier entry and a chance to finally grab the home you’ve been staring at for years... at least that’s how it’s being sold.
In this week’s episode of the First Sip Podcast, I’m breaking down what a 50 year mortgage really means for buyers today. It sounds like a shortcut in a market where rates are high, prices are annoying, and inventory is non-existent. But once you look at the long term cost, the impact on interest payments, and how this doesn’t fix the real issue of not enough homes being built, the picture changes fast. This episode goes into the math, the policy talk and the reality behind why affordability feels like it keeps slipping further away.
What we’re talking about this week:
- How a fifty year mortgage lowers the monthly payment in the short term
- The massive long term interest cost most people never calculate
- Why the real problem is still inventory shortages and zoning roadblocks
- How policy conversations distract from the need for more building
- What first time buyers should think about before jumping at lower payments
If you’ve ever wondered whether these plans help regular buyers or just shift the pressure around, this episode will give you the clarity you need to think long term, not just month to month.
Thank you for listening and as always...enjoy your first sip!☕️
What did you think about this episode?
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