The Trump administration is considering a 50-year mortgage plan amid a housing affordability crisis, but critics warn that it could exacerbate household debt.
The end result of this is everyone buys homes and cars in cash or they just invent something that is interest without calling it interest. They have that for certain religions who have a faith-based objection to interest. It seems dumb to me, but apparently structuring it with the interest rolled into the principal and called something else makes god happy.
To add to this: Christianity was one of those religions and it’s the major reason why there are so many Jewish bankers. Jewish families were well-established in the industry long before Christians figured out there was money to be made in banking and loosened the rules
Interest should be illegal
The end result of this is everyone buys homes and cars in cash or they just invent something that is interest without calling it interest. They have that for certain religions who have a faith-based objection to interest. It seems dumb to me, but apparently structuring it with the interest rolled into the principal and called something else makes god happy.
To add to this: Christianity was one of those religions and it’s the major reason why there are so many Jewish bankers. Jewish families were well-established in the industry long before Christians figured out there was money to be made in banking and loosened the rules
Dumbest idea in here.
Why is that?