Bill Pulte Should Be FIRED For His 50 Year Mortgage Mistake

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Bill Pulte just sold President Trump one of the dumbest ideas in modern housing policy.
In this episode:

• The shocking story behind Trump’s “Great American Presidents” poster
• Why the 50-year mortgage is a bailout for builders, not buyers
• How Trump got blindsided — and why his own team is furious
• The common-sense fixes (like portable mortgages) that Wall Street hates
• And why this doubles down on dumb with talk of 15-year car loans

This isn’t innovation — it’s inflation. The 50-year mortgage isn’t the American dream. It’s a debt trap dressed up as patriotism

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Bill Pulton needs to be fired now now again. I
said he should have been fired a long time ago,
with some of his fanny and Freddy krap that it
was putting out there also with his nonsense when it
came to Lisa Page. How'd that work out? Another massive failure?
Like I said it was going to be anyway, this

(00:37):
past weekend when I saw the tweet where there was
a picture of FDR and Donald Trump side by side,
side by side, Franklin Roosevelt with thirty year mortgage, Trump
fifty year mortgage, with the headline great American Presidents that

(00:59):
came out this past weekend. That came out this passed
week and again a Republican president signing up with FDR
as a great president. Again, don't even get me started,
but yeah, they put that out. I saw it, and
I said, no, frickin way, except that I didn't say
frickin in my mind. Okay, I can't be real. This

(01:23):
can't be right, and I had to go back and
check it, check it, and now it's legit. It's legit. Yeah.
The Federal Housing Finance Agency director went in to see
the President this weekend. When I see the President this

(01:46):
weekend and push this fifty year mortgage plan, I guess
the people behind the scenes at the White House reports
coming out now were completely blindsided by this, and they
are none too happy. This out went down Saturday evening,

(02:06):
Pultie arrived at President Donald Trump's Palm Beach golf club
with a three by five poster board in hand. A
graphic a former president Franklin Roosevelt appeared below thirty year
mortgage and what of Trump? Below fifty year mortgage? The
headline was great American Presidents ten minutes later. Ten minutes later,

(02:36):
Trump posted the image to truth Social Immediately, Trump's aids
getting all sorts of angry phone calls from people that
know that this is not a good idea. Again, fifty

(02:56):
year payback period for a mortgage not only bad politics,
bad policy. We've gone over it here on the program
raising the price of housing, which is what Bill Polti
wants because he's a home builder. I mean, come on,
this is when it's hard for me. Undersay, how does
Trump not know this? Okay, he's in a similar business.

(03:19):
How does he not know this? This is why this
sounds like one big damn frickin' griff Man. Okay, I
can't give him the benefit of the doubt on this one.
I can't. Anyway. Here's a quote he just sold the
president bill of goods that wasn't necessarily accurate. He said,

(03:42):
FDR did it. You can do it. It's gonna be
a big thing. Didn't tell him about the unintended consequences.
Donald Trump's president of the United States, and again he's
in the construction businesses entire life. Don't tell me he
doesn't know what these consequences are. If he doesn't know
what they are. Again, I don't get it. I don't

(04:02):
get it. Fall out everywhere. But Trump said, no big deal.
In the interview with Laura Ingram again this again it
was horrific. Okay, Trump said, all it means is you
pay less per month, pay it over a longer period

(04:23):
of time. It's not like a big factor. It might
help a little bit. He then didn't even understand he
thought that there was a forty year mortgage. In the interview,
he said, you're paying fifty rather than forty. Then Laura
tried to bail him out thirty, but then again like

(04:43):
a sentence later, he went back to forty. Now Pulti
is saying, oh, it's just one idea, just one idea
out there. Why write of various different things in our
arsenal to being price is down? You know what, we've

(05:04):
talked about things that could be done to help with housing.
Ron DeSantis has talked about that, things that we were
talking about years ago before Trump was even elected. Okay,
everyone's talking about the again. You talked about the golden handcuffs,
the golden handcuffs with obviously property taxes, where again, if

(05:26):
somebody moves their property taxes are going to go through
the roof because you get the reset. What also about
making mortgages potable or transferable. You know, banks don't like that.
Wall Street doesn't want that. Okay, oh wall Street. You
know if you sell your house and you've got yourself
a thirty year mortgage at two point six percent, Wall

(05:49):
Street wants to retire that bad boy. But quick they
want to retire it. They're going to push back on that,
But why why couldn't you, like any other type of
debt security? Why can't you transfer it by have a
debt instrument. If I have a debt instrument, I can
transfer it sell to someone else. What a bond is?

(06:11):
For crying out loud, why can't we do the same
thing with mortgages? Could? Could? But hey, those big money
interests don't like that. But wait, there's more or all
Steve jobs that one more thing? This, He doubles down,

(06:35):
undumb as he continues, this is from the White House,
as he continues to work hard to make the American
dream accessible to everyone. President Trump today has asked the
Departments of Transportation and Commerce to make vehicle ownership for
all a reality by introducing fifteen year car Loans. Secretaries

(06:59):
Duff and Lutnik are already working on it, delivering for
America that I don't really even know where to go there.
I'm out watchdog on Wall Street dot Com