Bill Pulte Should Be FIRED For His 50 Year Mortgage Mistake
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Bill Poulty 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 crap that he 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 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 30 year mortgage, Trump 50 year mortgage with the headline, great American presidents. That came out this past weekend. That came out this past week. And again, a Republican president siding 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 fricking way, except that didn’t say fricking in my mind. ice can’t be real. This 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, the federal housing finance agency director went in to see the president this weekend.
went and see the president this weekend and pushed this 50 year mortgage plan. I guess the people behind the scenes at the White House, the reports coming out now, were completely blindsided by this and they are none too happy. This is how went down. Saturday evening, Pulte arrived at President Donald Trump’s Palm Beach Golf Club with a three by five poster board in hand.
A graphic of former president Franklin Roosevelt appeared below 30 year mortgage and one of Trump below 50 year mortgage. The headline was Great American Presidents.
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Ten minutes later. Ten minutes later, Trump posted the image to Truth Social.
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Trump’s aides getting all sorts of angry phone calls from people that know that this is not a good idea. Again, 50 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 Pulte wants because he’s a home builder.
I mean, come on, this is one it’s hard for me to understand. How does Trump not know this? Okay? He’s in a similar business. How does he not know this? This is why this sounds like one big damn fricking griff, man. Okay? I can’t give him the benefit of the doubt on this one. I can’t.
Anyway, here’s quote, he just sold the president a bill of goods that wasn’t necessarily accurate. He said, 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 business his 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 get it. Fallout everywhere, but Trump said no big deal in the interview with Laura Ingraham.
Again, it was horrific, okay? Trump said, all it means is you pay less per month. Pay it over a longer period 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 40-year mortgage. In the interview, he said, you’re paying 50 rather than 40. Then Laura tried to bail him out, 30.
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But then again, like a sentence later, he went back to 40. Now Pulte is saying, it’s just one idea. It’s just one idea out there, a wide variety of various different things in our arsenal to bring prices down. You know what? We’ve 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, talked about the golden handcuffs. The golden handcuffs with obviously property taxes, where again, if somebody moves their property taxes are gonna go through the roof because you get the reset. What also about making mortgages potable or transferable?
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Banks don’t like that. Wall Street doesn’t want that. Wall Street, you sell your house and you’ve got yourself a 30-year mortgage at 2.6%, Wall Street wants to retire that bad boy, but quick. They want to retire it. They’re going to push back on that. But why couldn’t you, like any other type of debt security, why can’t you transfer it? If I have a debt instrument,
If I have a debt instrument, I can transfer it sell to someone else. What a bond is 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 I’ll Steve Jobs that. One more thing. This.
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It doubles down on dumb. 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 15 year car loans. Secretaries Duffy and Lutnick are already working on it.
Delivering for America.
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I don’t really…
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watch snogonwallstreet.com.
