Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Now back to Charleston This Morning News with Kelly and Place.
Speaker 2 (00:07):
A fifty year mortgage. It may be coming soon. The
Trump administration is working on a plan to introduce a
fifty year fixed rate mortgage, the Federal Housing Finance Agency
director posted on x Saturday of the News. The agency
director called the move a complete game changer. His announcement
comes after Trump shared a graphic online comparing his proposal
(00:28):
to the thirty year mortgage policies backed by President Franklin D.
Roosevelt during the New Deal. Agency director Bill Polti also
said the administration is laser focused on ensuring the American
dream for young people, which he says can only happen
on an economic level of home buying.
Speaker 3 (00:45):
We got an interesting talk back on the iHeartRadio app.
That's the round radio microphone. You can click that. You
got about thirty seconds to drop your thoughts.
Speaker 4 (00:53):
This thirty year mortgage is the most ridiculous thing to
try and spin into a win. You might save ten
percent a month an your more, but you're gonna fail
out fifty over the course of the next twenty years.
You're going to rank until you die. That's where we're
what we're talking about you'll own nothing and you'll be happy.
This is exactly it. You may own the home, but
you still make repairs, taxes, et cetera. You're gonna have
(01:16):
no equity, had nothing.
Speaker 3 (01:18):
I think you meant to say fifty yeah, And I
don't know.
Speaker 2 (01:20):
I mean, he's I think he's pulling some numbers out
of his buck there. But you know, as far as
the numbers he indicated on, you know, how much equity
and all this, I don't you know. Of course, if
it's here's my take on it. If it's the difference
between getting you in a home and not getting you
in a home, then it's a good thing. And you
don't have to keep it for fifty years, you know.
(01:42):
And anybody who pulled a mortgage thirty years ago sees
how cheap it is today compared to thirty years ago dollars.
And that's one of the benefits of home ownership is
you get to keep up with inflation. And before they
commoditized home ownership, that was your major advantage of owning
a home in how you could build wealth is because
you kept up with inflation with your investment in that home.
(02:06):
So as you make more money and hopefully advance in
your career and get older, then get out of that
fifty year mortgage and get into a you know, a
shorter mortgage, or pay it off altogether, or do whatever
you need to do. But it's a tool to get
more people into the home ownership game that are right
(02:28):
now left out of it.
Speaker 3 (02:29):
A new option, a new idea for younger people to
achieve the American dream. It does, on face value though,
sound like you're going to die paying unless you double
triple you know, your payments, which kind of makes the
whole affordability point, you know, moot again at face value here, Yeah.
Speaker 2 (02:47):
But I mean, all right, so when they introduce the
thirty year mortgage back during the New Deal, you could
say the same thing, I'm going to be dead before
it's paid off, and look at what the life expectancy was.
When they introduce the thirty year mortgage, you could say
the same thing. And now you're expected to live longer,
(03:08):
so you have longer to pay off that debt. And
I'm not here championing for a fifty year mortgage. If
you can avoid a fifty year mortgage, certainly, if you
can avoid a thirty year mortgage, do it. But a
lot of people can't. And it's the difference between homeownership
and non homeowner and being a renter the rest of
your life. What would you rather do? So do what
(03:30):
you can to get in and then fix it as
you go along. And I'd also point out car loans,
so you know, it used to be a car loan
was two or three years, and then now they've got
seven years, they've got ten years because cars have become
so expensive. Sometimes that's what you have to do if
you need a new vehicle. And in as far as
(03:53):
the equity goes, look at an FHA loan three and
a half percent down and then you pay all the
costs of loan and you're closing costs and everything else.
You're walking in with no equity or not very much anyway.
So you know, I know that people get all upset
at this, but it's not forcing everybody into a fifty
year mortgage. The cost of housing has done that. So
(04:18):
this would be an option to get people into housing,
that into home ownership that otherwise wouldn't be able to
and would have to rent. And you're not getting anywhere
renting well.
Speaker 3 (04:29):
And we had some other talkbacks because I had said,
you know, so much for passing on a paid for
property to future generations, to you know, you know, paid
for property to help build generational wealth. And someone left
a talk back saying, well, can should pass that note
on to future generations? But yeah, I don't know.
Speaker 2 (04:46):
They haven't released all the details. Yeah we don't know.
I mean probably. I mean, you can't pass a note
down now.
Speaker 3 (04:53):
Well there you get well, I just I mean.
Speaker 2 (04:55):
Unless they you know, unless you go in and qualify
for it.
Speaker 3 (04:58):
Paid for property. Just so key and important, and I
think that it's a good point to point out the
fact that this is just an option. No one's being
forced to do this.
Speaker 2 (05:14):
It's an option to help people that otherwise wantn't to
be able to afford a home and so on. Just
looking at it that way, it's a good thing, you know,
as it ideal for most people now neither is buying
a brand new car with a car loan or buying
anything on credit. But sometimes you do what you have
to do, you know, and so the more options that
(05:35):
are available to help you do it, the better. And
it's up to you to make sure that you're making
stable and the right financial decisions, according to you will
benefit you the most and your family. You can leave
it up to the creditors to do that, because guess what.
Speaker 3 (05:54):
You can feel the chill in the air. But it's
going to be done right. Freezing overnight into tomorrow morning,
waking up to temperatures that feel like they're in the
twenties and in some cases actually are inland. We'll look
at the forecast here just ahead first this morning.
Speaker 2 (06:07):
President Trump says a tariff dividend of at least two
thousand dollars a person will be paid to Americans. In
a post on truth Social the President said the payments
would be for everyone except high income people. Trump also
took aim at those who are against the tariffs, calling
them fools. It comes as the Supreme Court is weighing
the legality of President Trump's sweeping teriffs. The Justice has
(06:30):
heard arguments last week after the High Court agreed to
fast track the case. The tariffs will stay in place
until the court makes a decision.
Speaker 3 (06:38):
Oh boy, this was a shrewd move on the President's
part to potentially add pressure to the Supreme Court ahead
of that decision. I mean, and by the way, as
the American taxpayer, let's go. I'm ready for my two
K check.
Speaker 2 (06:54):
Well, yeah, I think a lot of people would welcome that.
Speaker 3 (06:57):
Oh my goodness. Well, I mean think about when Doge started,
we were talking about they were talking about Doge dividend checks.
So will those be coming two?
Speaker 2 (07:07):
Doesn't look like it, but this would be a part
of that. I would imagine.
Speaker 3 (07:14):
And do our tariff checks get do they get taxed?
I wonder, I don't know something to think about, like,
here's your two thousand dollars check that really is twelve hundred?
Speaker 2 (07:30):
Yeah, I mean I don't know is there any real
plan in place or is he just proposing this out
in public? I don't know.
Speaker 3 (07:40):
Well, I'm curious where we got where. You know, the
Supreme Court is going to be going with this fast
track case on tariffs, because last week I heard from
both sides. You know, one side was saying, especially within
the Trump administration, saying that seemed that the Supreme Court
was leaning in favor of Trump's tariffs, and then other
people were saying, nope, no, it sounded like some of
(08:02):
the you know, so called conservative justices weren't on his side.
So this one's going to be a real interesting one
to follow with some popcorn and pino well.
Speaker 2 (08:12):
I you know, I don't even know if we'll see
what they decide. I mean, you know, the administration was saying, look,
we're well within our rights to do this, and here's why.
And then once the Supreme Court started hearing the case
and the questions they were asking, other people were saying, well,
look it looks like they might not be on the
(08:33):
administration side.
Speaker 3 (08:34):
Well, and I also am curious about the idea of
the Supreme Court, you know, fast tracking this case. I mean,
when we hear fast tracked, we you know, we consume
information everything coming at us like a fire hose. We
think it's going to be you know, it could be
by week's end, will it It could be by the
end of the year.
Speaker 2 (08:53):
No, that's what they're saying, is by the end of
the year. But that's still fast tracking it in their world.
And this doesn't effect even if they rule against this administration,
it's not against all the tariffs, it's against a specific
group of them.
Speaker 3 (09:10):
Well, and will that affect these checks that Trump is
truthing out about the two thousand dollars tariff checks, even
if they don't vote in his favor, I'd be curious
to see.
Speaker 2 (09:25):
Yeah, I don't know. We'll see how it all plays out.
It's up to the Supreme Court. At this point, a
long tradition is coming to an end. The Farmer's Almanac
is downing its two hundred and eight year run with
its twenty twenty six edition. The almanac is known for
long term weather predictions, gardening guides, fishing and moon phases.
In a statement, editor Sandy Duncan and editor Emeritis Peter
(09:47):
Geiger said they're incredibly proud of the legacy they have
left behind and are filled with gratitude. The Farmer's Almanac
was first published in eighteen eighteen.
Speaker 3 (09:56):
Man, I mean, I know people don't like change this one.
I'm upset about this a little. I mean, that's a
long tradition to come to and in over two hundred years.
But I mean, can you think of the last time
you actually bought a Farmer's Almanac.
Speaker 2 (10:14):
I have never bought a Farmer's Almanac.
Speaker 3 (10:17):
I know they come in the mail here to the studios,
and that's why you know there's one over here. We've
got one. But oh, I just I'm old school and
I'd like to have the book in my hand. I
know that, you know, electronic you know, electronically everything is
with screens and so on, but electronics fail. This is
(10:37):
why I'm old school, and I like to have the
book to be able to reference. And I was even
called old school by the church pastor yesterday because I
didn't I couldn't follow along in the last and the
Hymnal Book on what they were singing. I was visiting
a church and I said, hey, you know, the words
(10:59):
aren't on the screen up there, not following like the
actual music going on. They had a band on the
stage there at the church, and people had a hard
time following along. And I just said, I, you know,
if there was any way that I could have been
able to fall along in the hymnal Book, it would
have worked out for me. But anyway made me think
(11:20):
of that. I guess I'm as old school as the
Farmer's Almanac ending after two hundred eight years.
Speaker 2 (11:28):
Well, it's sad to see it go, but you know,
now the information is available in so many different places,
people don't need to rely on it as much as
they did in the past. I guess.
Speaker 1 (11:42):
Thanks for listening to the Charleston Morning News podcast Catch
Kelly and Blaze weekday mornings from six to nine,
Now back to Charleston This Morning News with Kelly and Place.
Speaker 2 (00:07):
A fifty year mortgage. It may be coming soon. The
Trump administration is working on a plan to introduce a
fifty year fixed rate mortgage, the Federal Housing Finance Agency
director posted on x Saturday of the News. The agency
director called the move a complete game changer. His announcement
comes after Trump shared a graphic online comparing his proposal
(00:28):
to the thirty year mortgage policies backed by President Franklin D.
Roosevelt during the New Deal. Agency director Bill Polti also
said the administration is laser focused on ensuring the American
dream for young people, which he says can only happen
on an economic level of home buying.
Speaker 3 (00:45):
We got an interesting talk back on the iHeartRadio app.
That's the round radio microphone. You can click that. You
got about thirty seconds to drop your thoughts.
Speaker 4 (00:53):
This thirty year mortgage is the most ridiculous thing to
try and spin into a win. You might save ten
percent a month an your more, but you're gonna fail
out fifty over the course of the next twenty years.
You're going to rank until you die. That's where we're
what we're talking about you'll own nothing and you'll be happy.
This is exactly it. You may own the home, but
you still make repairs, taxes, et cetera. You're gonna have
(01:16):
no equity, had nothing.
Speaker 3 (01:18):
I think you meant to say fifty yeah, And I
don't know.
Speaker 2 (01:20):
I mean, he's I think he's pulling some numbers out
of his buck there. But you know, as far as
the numbers he indicated on, you know, how much equity
and all this, I don't you know. Of course, if
it's here's my take on it. If it's the difference
between getting you in a home and not getting you
in a home, then it's a good thing. And you
don't have to keep it for fifty years, you know.
(01:42):
And anybody who pulled a mortgage thirty years ago sees
how cheap it is today compared to thirty years ago dollars.
And that's one of the benefits of home ownership is
you get to keep up with inflation. And before they
commoditized home ownership, that was your major advantage of owning
a home in how you could build wealth is because
you kept up with inflation with your investment in that home.
(02:06):
So as you make more money and hopefully advance in
your career and get older, then get out of that
fifty year mortgage and get into a you know, a
shorter mortgage, or pay it off altogether, or do whatever
you need to do. But it's a tool to get
more people into the home ownership game that are right
(02:28):
now left out of it.
Speaker 3 (02:29):
A new option, a new idea for younger people to
achieve the American dream. It does, on face value though,
sound like you're going to die paying unless you double
triple you know, your payments, which kind of makes the
whole affordability point, you know, moot again at face value here, Yeah.
Speaker 2 (02:47):
But I mean, all right, so when they introduce the
thirty year mortgage back during the New Deal, you could
say the same thing, I'm going to be dead before
it's paid off, and look at what the life expectancy was.
When they introduce the thirty year mortgage, you could say
the same thing. And now you're expected to live longer,
(03:08):
so you have longer to pay off that debt. And
I'm not here championing for a fifty year mortgage. If
you can avoid a fifty year mortgage, certainly, if you
can avoid a thirty year mortgage, do it. But a
lot of people can't. And it's the difference between homeownership
and non homeowner and being a renter the rest of
your life. What would you rather do? So do what
(03:30):
you can to get in and then fix it as
you go along. And I'd also point out car loans,
so you know, it used to be a car loan
was two or three years, and then now they've got
seven years, they've got ten years because cars have become
so expensive. Sometimes that's what you have to do if
you need a new vehicle. And in as far as
(03:53):
the equity goes, look at an FHA loan three and
a half percent down and then you pay all the
costs of loan and you're closing costs and everything else.
You're walking in with no equity or not very much anyway.
So you know, I know that people get all upset
at this, but it's not forcing everybody into a fifty
year mortgage. The cost of housing has done that. So
(04:18):
this would be an option to get people into housing,
that into home ownership that otherwise wouldn't be able to
and would have to rent. And you're not getting anywhere
renting well.
Speaker 3 (04:29):
And we had some other talkbacks because I had said,
you know, so much for passing on a paid for
property to future generations, to you know, you know, paid
for property to help build generational wealth. And someone left
a talk back saying, well, can should pass that note
on to future generations? But yeah, I don't know.
Speaker 2 (04:46):
They haven't released all the details. Yeah we don't know.
I mean probably. I mean, you can't pass a note
down now.
Speaker 3 (04:53):
Well there you get well, I just I mean.
Speaker 2 (04:55):
Unless they you know, unless you go in and qualify
for it.
Speaker 3 (04:58):
Paid for property. Just so key and important, and I
think that it's a good point to point out the
fact that this is just an option. No one's being
forced to do this.
Speaker 2 (05:14):
It's an option to help people that otherwise wantn't to
be able to afford a home and so on. Just
looking at it that way, it's a good thing, you know,
as it ideal for most people now neither is buying
a brand new car with a car loan or buying
anything on credit. But sometimes you do what you have
to do, you know, and so the more options that
(05:35):
are available to help you do it, the better. And
it's up to you to make sure that you're making
stable and the right financial decisions, according to you will
benefit you the most and your family. You can leave
it up to the creditors to do that, because guess what.
Speaker 3 (05:54):
You can feel the chill in the air. But it's
going to be done right. Freezing overnight into tomorrow morning,
waking up to temperatures that feel like they're in the
twenties and in some cases actually are inland. We'll look
at the forecast here just ahead first this morning.
Speaker 2 (06:07):
President Trump says a tariff dividend of at least two
thousand dollars a person will be paid to Americans. In
a post on truth Social the President said the payments
would be for everyone except high income people. Trump also
took aim at those who are against the tariffs, calling
them fools. It comes as the Supreme Court is weighing
the legality of President Trump's sweeping teriffs. The Justice has
(06:30):
heard arguments last week after the High Court agreed to
fast track the case. The tariffs will stay in place
until the court makes a decision.
Speaker 3 (06:38):
Oh boy, this was a shrewd move on the President's
part to potentially add pressure to the Supreme Court ahead
of that decision. I mean, and by the way, as
the American taxpayer, let's go. I'm ready for my two
K check.
Speaker 2 (06:54):
Well, yeah, I think a lot of people would welcome that.
Speaker 3 (06:57):
Oh my goodness. Well, I mean think about when Doge started,
we were talking about they were talking about Doge dividend checks.
So will those be coming two?
Speaker 2 (07:07):
Doesn't look like it, but this would be a part
of that. I would imagine.
Speaker 3 (07:14):
And do our tariff checks get do they get taxed?
I wonder, I don't know something to think about, like,
here's your two thousand dollars check that really is twelve hundred?
Speaker 2 (07:30):
Yeah, I mean I don't know is there any real
plan in place or is he just proposing this out
in public? I don't know.
Speaker 3 (07:40):
Well, I'm curious where we got where. You know, the
Supreme Court is going to be going with this fast
track case on tariffs, because last week I heard from
both sides. You know, one side was saying, especially within
the Trump administration, saying that seemed that the Supreme Court
was leaning in favor of Trump's tariffs, and then other
people were saying, nope, no, it sounded like some of
(08:02):
the you know, so called conservative justices weren't on his side.
So this one's going to be a real interesting one
to follow with some popcorn and pino well.
Speaker 2 (08:12):
I you know, I don't even know if we'll see
what they decide. I mean, you know, the administration was saying, look,
we're well within our rights to do this, and here's why.
And then once the Supreme Court started hearing the case
and the questions they were asking, other people were saying, well,
look it looks like they might not be on the
(08:33):
administration side.
Speaker 3 (08:34):
Well, and I also am curious about the idea of
the Supreme Court, you know, fast tracking this case. I mean,
when we hear fast tracked, we you know, we consume
information everything coming at us like a fire hose. We
think it's going to be you know, it could be
by week's end, will it It could be by the
end of the year.
Speaker 2 (08:53):
No, that's what they're saying, is by the end of
the year. But that's still fast tracking it in their world.
And this doesn't effect even if they rule against this administration,
it's not against all the tariffs, it's against a specific
group of them.
Speaker 3 (09:10):
Well, and will that affect these checks that Trump is
truthing out about the two thousand dollars tariff checks, even
if they don't vote in his favor, I'd be curious
to see.
Speaker 2 (09:25):
Yeah, I don't know. We'll see how it all plays out.
It's up to the Supreme Court. At this point, a
long tradition is coming to an end. The Farmer's Almanac
is downing its two hundred and eight year run with
its twenty twenty six edition. The almanac is known for
long term weather predictions, gardening guides, fishing and moon phases.
In a statement, editor Sandy Duncan and editor Emeritis Peter
(09:47):
Geiger said they're incredibly proud of the legacy they have
left behind and are filled with gratitude. The Farmer's Almanac
was first published in eighteen eighteen.
Speaker 3 (09:56):
Man, I mean, I know people don't like change this one.
I'm upset about this a little. I mean, that's a
long tradition to come to and in over two hundred years.
But I mean, can you think of the last time
you actually bought a Farmer's Almanac.
Speaker 2 (10:14):
I have never bought a Farmer's Almanac.
Speaker 3 (10:17):
I know they come in the mail here to the studios,
and that's why you know there's one over here. We've
got one. But oh, I just I'm old school and
I'd like to have the book in my hand. I
know that, you know, electronic you know, electronically everything is
with screens and so on, but electronics fail. This is
(10:37):
why I'm old school, and I like to have the
book to be able to reference. And I was even
called old school by the church pastor yesterday because I
didn't I couldn't follow along in the last and the
Hymnal Book on what they were singing. I was visiting
a church and I said, hey, you know, the words
(10:59):
aren't on the screen up there, not following like the
actual music going on. They had a band on the
stage there at the church, and people had a hard
time following along. And I just said, I, you know,
if there was any way that I could have been
able to fall along in the hymnal Book, it would
have worked out for me. But anyway made me think
(11:20):
of that. I guess I'm as old school as the
Farmer's Almanac ending after two hundred eight years.
Speaker 2 (11:28):
Well, it's sad to see it go, but you know,
now the information is available in so many different places,
people don't need to rely on it as much as
they did in the past. I guess.
Speaker 1 (11:42):
Thanks for listening to the Charleston Morning News podcast Catch
Kelly and Blaze weekday mornings from six to nine,
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