In a Truth Social post and an interview with Fox News, Donald Trump has introduced the idea of a 50-year mortgage in the U.S, suggesting it might make home ownership more affordable for Americans. But Daily Show host Josh Johnson isn’t convinced.
In the clip above from Tuesday’s show, the host pulls up a graphic calculating that a six percent mortgage on a $400,000 home would mean roughly $300 a month less in repayments versus a 30-year mortgage, but over $800,000 in interest over the lifetime of the loan.
“So you’re saying that after interest, a $400,000 mortgage is going to cost me $1.3 million?” says Johnson. “That is the opposite of affordability. This man is creating generational debt. They’re going to be fighting to get out of grandma’s Will. Grandkids will be like, ‘I barely knew her, alright? I wouldn’t even hug her at Christmas because her skin was too loose.”
