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The housing market is so rough right now that policymakers are discussing mortgages long enough to have their own midlife crisis.

President Trump’s team floated a 50-year mortgage to “make homeownership affordable again.”

You know things are bad when the new plan to “help young people buy homes” is basically: “What if… you just paid for it forever?”

While this could make monthly payments for a new home cheaper, experts say this solution is like solving a diet problem by buying bigger pants. Technically helpful, spiritually concerning.

Rather than building up supply, this would just make demand for homes potentially increase, which in turn would likely drive up home prices even further.

And with a longer term mortgage, the “generational wealth” you may have built through equity in your home grows a lot slower.

So, it’s a “solution.”

Note: equity is the ownership stake you have in your home. If you get a mortgage to purchase your home, your equity accumulates over time as you pay off the loan. Longer mortgage = slower accumulation of equity.

Since homeownership is constantly discussed as unattainable, let’s look at renting vs. buying.

There’s a huge mythology around buying a home. It’s like the final badge you need to complete the “Responsible Adult” skill tree. But let’s talk about the math underneath all that pressure.

Here’s the myth-busting part: You don’t build wealth by owning a home. You build wealth by owning a home for a long time.

And that only works if you’re planning to stay put, keep up with payments, and ride out the ups and downs.

So the smarter question isn’t, “Am I wasting money renting?”

It’s: “Am I in the right phase of life to take on a 5-10+ year commitment?”

If the answer is “ehhhh maybe not,” renting is not failure. It’s strategy.

Especially considering that your home (if it doesn’t offer extra space to rent) is not a cash-flowing investment. If you sell your home, you still need to pay for somewhere to live.

The house may grow your net worth, but not your ability to spend… This is how people can be “asset rich but cash poor.”

That said, it’s important to note the role home ownership has played in creating wealth for many families.

For most people, their home is the biggest investment they’ll make, and the passing down of that investment can be a generational wealth-creating vehicle.

Time to consult the oracle. And by oracle, I mean a free rent-vs-buy calculator that tells you whether buying a home actually makes sense for you.

This tool lets you experiment with many different housing situations to see what may work best for you now, or 5 years from now.

Want to see what happens if you stay somewhere 3 years vs. 7?
If interest rates drop?
If home prices start acting like Bitcoin?

Tweak the sliders like you’re customizing a character in a video game.

The calculator isn’t here to judge. It’s here to give you a clearer picture before you make a decades-long decision.

Also, quick reminder that I am not sponsored by any of the tools I note here. I wish I was! These are just the tools I use.

Let’s play dollhouse. But instead of the doll house, it’s your house, for the next 2-10 years.

Ask yourself, “What does my next 5 years look like?”

Think about where you’re working/studying, length of time you’ll be there, stability of income, will you have a family?

Then plug the appropriate numbers into the housing calculator and play around with what makes the most financial and emotional sense (emotional sensibility sold separately, a calculator cannot determine that for you).

Sure, your plans may change, but thinking ahead can save you a ton of headache, mistakes, and money. ;)

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