A radical plan to stretch home loans out to 50 years – floated by Donald Trump in the US – has been savaged by an Australian housing expert, who claims the move would lock property buyers into a lifetime of debt if ever introduced Down Under.
The controversial proposal, championed by the US president as a way to make American housing more affordable, has sparked global debate.
Real estate expert Aaron Scott, co-founder of bRight Agent, said any move to adopt ultra-long home loans in Australia would be a disaster for borrowers.
“If you’re signing up to a 50-year mortgage, you’re essentially signing up to a debt trap for life,” Mr Scott said.
Trump this week declared 50-year loans could make homes more affordable, posting on his Truth Social platform a comparison between himself and WWII

news.com.au
Nine News
Tribune Chronicle Community
The Babylon Bee