America’s housing market is not broken, but it does need some help. Supplies of available homes are increasing, but remain historically low, and the FED is lowering interest rates at a snail’s pace. Potential first-time home buyers are waiting on the sidelines, not yet qualified, hoping for relief.

Concerned Trump Administration officials are brainstorming for solutions. Presidential housing advisor Bill Pulte convinced the President to consider authorizing 50-year mortgages. Immediately, media “experts” in every aspect of real estate, finance, and plain-old politics reacted, apparently with hair on fire. I strongly disagree with the naysayers, and here’s why.

Mortgage lenders are tightly constrained by government regulations. They must adhere to the playbook, or risk losing their livelihoods. Creativity has no standing in this hyper-controlled market. No Lone Wolves need apply. Potential buyers are excluded from becoming mortgage-holding homeowners if their income is not 100% up to federal standards. No exceptions.

For the market to improve, something must change, and the 50-year mortgage deserves its day in court. Why so many “experts” have been so quick to declare this concept blasphemy is their dearth of creativity. If $200 in monthly payment reductions would facilitate a first-time home buyer, and if the 50-year mortgage would produce that payment, do the deal!

Someone please tell me where it is written that in the event a 50-year mortgage become available to those who may choose it, everyone in the country must use one. That appears to be the implication espoused by many of today’s “talking heads.” America is about choices, and most intelligent people would prefer to keep it that way. The 50-year fixed mortgage option would constitute an added choice; one that could make the difference to some potential buyers.

Entirely too many potential first-time buyers are being excluded from both the American Dream of ownership, as well as the equity buildup afforded to homeowners. We should let them stop paying rent and buy their first homes.

Professional whiners point out that 50-year mortgage holders will pay much more for their residence over the payment period. National statistics have revealed for decades that most mortgages are either paid off or refinanced within 7 to 10 years. What’s all the fuss? Get people involved in American equity. If that requires some creativity, so be it.

No equity buildup can be realized while renting, though some “rent-to-buy” arrangements do exist, but those are scarce. Equity buildup is generally much faster than mortgage principal paydown. It is the watch, rather than the wallet, that creates wealth. Let young Americans get started.