Meanwhile, the “lock-in effect” has prevented many prospective sellers from putting their homes on the market because they don’t want to give up the ultra-low rates they secured before borrowing costs jumped in 2022. The result has been housing market gridlock that’s putting ownership out of reach for younger Americans and worsening overall affordability.
In the short run, this would see sellers and incumbent owners capturing much of the benefit while first‑time buyers face higher entry prices.
The 50-year mortgage proposal came amid a flurry of posts from Pulte, a member of one of America’s most prominent homebuilding families, who was fresh off a Friday appearance at ResiDay, a residential real estate conference hosted by ResiClub.
