Beth Brelje writes for the Federalist about challenges facing America’s younger adults.
Our economy forces young adults to kick their own debt down the road just like Congress does. Drowning in debt is the antithesis of the American Dream. The dream is not just to get a mortgage, but to pay off all debt in the foreseeable future and own a little swath of paradise. The dream is to ease the financial struggle for those yearning to be free of monthly payments (except a BritBox subscription. That’s forever) so they can use their resources for their own pursuits.
When President Donald Trump floated the idea of a 50-year home mortgage, my mind went to a simpler time: the 1990s. And after a bit of math, I realized how much harder it is for Millennials and Gen Z to achieve the trappings of American life and how pathetic it is that Congress is not spending all its time solving the economy.
Way back when R.E.M. and Stone Temple Pilots were on the radio (and we all listened to the radio) the longest term for a car loan was 48 months, that is, four years. …
… But car costs and loan terms have grown. …
… The longer term comes with higher interest, and it is a consumer trap. Try to trade out of that loan before the term is up and you will be “upside down,” owing more than the car is worth. Your choices are to finance the balance on a new long loan or stick with the crappy car until it is paid off.
The good news is, unlike cars which lose value as they age, real estate increases in value, so once you pay off a home loan, you are sitting pretty. Except for property taxes. Those are forever.
The bad news is the same news: real estate increases in value. The median sale price of new homes sold in United States in 1993 was $125,000, but as of August 2025 that number jumped to $411,000, that is, an eye-popping 228 percent cost increase according to Federal Reserve data.
Sure, pay has gone up too. But barely.
