Jason Friedberg

All right, listen, there is an affordability crisis.

We talked about it here for the last couple of weeks.

Last weekend, the Trump administration floated a pretty wild idea of a 50-year mortgage that would ostensibly cut payments, monthly payments,

by 20, 30%, and maybe theoretically boost home ownership.

And we'll discuss this in depth here for young people.

The idea was slammed by many people in MAGA saying, hey, this is debt slavery, and it's going to triple the lifetime interest.

You can just be paying through the nose for your entire life, and you'll be an indentured servant.

Politico said the idea was brought about by FHFA Director Bill Pulte.

Palte tweeted that the FHFA was, quote, actively evaluating portable mortgages.

Now, this is a really good idea.

That means you can take your mortgage with you if you go buy another home.

If you upgrade a home, that would obviously get people out of homes that maybe they've outgrown or that their kids have left and there's extra bedrooms.

And that is not happening because people are afraid to unwind a 2% or 3% mortgage to upgrade it to a 6% or 7% one.

And there's been some data going viral on X. National Association of Realtors released a report last week.

The average age of a first time home buyer is now 40 years old.

That's up from 28 years old in 1991 when I was in college.

And in the 30 years from 1991 to 2021, it only increased a modest 18% from 28 to 33 years old.

So in the last four years, it's jumped from 33 years old to 40 years old for the average first-time home buyer.

Day later, clip of friend of the pod, Ben Shapiro, went viral.

Here's a 25-second clip, and we'll talk about it after.