Stubborn inflation strangulates common Americans

US President Donald Trump’s financial proposal may not be a good one for lots of Americans. Living costs are mounting at a reckless speed in the USA.

Stubborn inflation continues to make the cost of living unbearable for many Americans. A number of inventive solutions have emerged — but with a common theme: putting consumers deeper into debt, reports CNN.

This week’s 50-year mortgage proposal from the Trump administration is the latest example of the trend. Bill Pulte, director of the Federal Housing Finance Agency, remarked over the weekend on X that US President Donald Trump’s proposal would be “a complete game changer.”

For many Americans, though, it may not be a good one.

The potential for a 50-year mortgage comes as the auto industry has been pushing seven-year car loans, which have become an increasingly popular option with the average price of a new car hitting a new record of more than $50,000. And the explosion of buy now, pay later options online and at brick-and-mortar retailers has normalized taking on longer-term debt for purchases as small as food delivery.

These offerings can help ease financial anxiety in the immediate future, but they can also do significant damage to a consumer’s financial stability over the long haul.

Case in point: While a 50-year mortgage could lower monthly payments, the amount of interest a borrower would pay over 50 years could be double what would be paid at current rates over 30 years, the traditional length of most mortgages.

That’s assuming the borrower even survives the entire 50 years. With average American life expectancy at around 80 years old, most Americans would have to get a mortgage by the time they’re 30 to have a shot – albeit a slim one – at reaping the benefits of homeownership.