The White House says it is considering backing a 50-year mortgage to help alleviate the home affordability crisis in the country. But the announcement drew immediate criticism from policymakers, social media and economists, who said a 50-year mortgage would do little to resolve other core problems in the housing market, such as a lack of supply and high interest rates.

Bill Pulte, director of the Federal Housing Finance Agency, said on X over the weekend that a 50-year mortgage would be “a complete game changer” for homebuyers. FHFA is the part of the federal government that oversees Fannie Mae and Freddie Mac , which buy and insure the vast majority of mortgages in the country.

The 30-year mortgage is a uniquely American financial product and the default way to buy a home since th

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