Conor Dougherty

People use that payment as their barometer for can they or can they not achieve the dream.

of becoming a homeowner.

So this payment has gotten a lot more expensive over the past couple of years for a whole bunch of different reasons.

One is homes just cost more.

So if homes cost more, it's going to be a higher payment.

The other is interest rates have gone up quite a bit from their rock bottom level in the pandemic.

And that is making people feel really bad because all their friends got 2% interest rates and now they're stuck with 6%.

So

Homes are more expensive and money is more expensive.

And so that payment has gone up quite a bit from what it was.

Yes.

And so if you're a politician, though, and you're just looking at that payment, you're going, everyone is mad about this payment.

What can I do in a relatively short period of time that will make that payment go down, which would make people feel very good?

Well, you can do what FDR did, which is find ways to stretch the payment out over a much longer period of time.

Yes.

So Bill Pulte, who is a senior Trump administration official, also happens to be the grandson of William Pulte, who has helped build the Pulte Homes home building empire.

Wow.

Apparently goes to Trump and shows him this poster.

FDR on the left, 30-year mortgage.

Trump on the right, 50-year mortgage.