The case for a 40-year mortgage [Video]
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Small Business Ideas

The case for a 40-year mortgage [Video]

VIDEO6:0806:08

John Hope Bryant: How a 40Y mortgage might save housing affordability in the U.S.

Homeownership has long symbolized the American Dream, embodying stability, wealth creation, and community investment.

Yet, for millions of Americans, especially younger generations and first-time homebuyers, that dream is slipping away. Rising home prices, stagnant wages, and restrictive mortgage terms have made it increasingly difficult to take that crucial first step onto the property ladder.

To address this, I propose a bold new approach: a 40-year mortgage using the Federal Home Loan Bank (FHLB) system as the framework, with federal subsidies for first-time homebuyers who complete financial literacy training.

This concept combines extended mortgage terms with financial education and targeted subsidies, making homeownership more accessible while driving sustainable economic growth.

Expanding accessibility

The 30-year mortgage has been the American standard for decades, balancing affordable monthly payments with a reasonable repayment period. However, as home prices soar …

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103-year-old veteran honored at Greensboro parade [Video]
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103-year-old veteran honored at Greensboro parade [Video]

IN GREENSBORO, THE MEN AND WOMEN WHO SERVED OUR COUNTRY WILL BE HONORED. A LITTLE BIT EARLY. TOMORROW IS THE ANNUAL VETERANS DAY PARADE, AND THIS YEARS GRAND MARSHAL IS A 103 YEAR OLD ARMY VETERAN. WXII 12 CHRIS PETERSEN MET UP WITH THOMAS FOSSETT AND HIS WIFE TODAY, WHO SHARED A STORY OF SACRIFICE AND SERVICE. THOMAS FOSSETT SPENT HIS LIFE SERVING HIS COUNTRY AND HIS COMMUNITY, AND NOW GREENSBORO IS HONORING HIM. HE WAS A HANDSOME GENTLEMAN. THOMAS FOSSETT JOINED THE ARMY ON MARCH 8TH, 1943, AT THE AGE OF 21. THREE BRONZE SERVICE STARS. FOSSETT SERVED IN THE ARMY BEFORE HE MET HIS WIFE OF 54 YEARS, ELIZABETH. SHE SAYS SHE HAD NO IDEA HE WAS IN WORLD WAR TWO UNTIL YEARS AFTER THEY HAD MARRIED. AT 103 YEARS OLD. ITS HARD FOR THOMAS TO SHARE HIS STORY OF SERVICE. I WASNT AWARE THAT HE HAD BEEN IN THE SERVICE AND SO IT WAS SEVERAL YEARS BEFORE I REALIZED I WAS JUST GOING THROUGH PAPERWORK. YOU KNOW, IN MY FILE. AND I LOOKED, I SAID, OH MY GOD, HE WAS IN THE SERVICE. ELIZABETH DISCOVERED THAT THOMAS WAS STATIONED IN ITALY AND SOUTHERN FRANCE FROM 1943 TO 1945. LOADING AND UNLOADING SHIPS. AFTER SHE FOUND HIS PAPERWORK, IT TOOK SEVERAL MONTHS BEFORE SHE RECEIVED HIS MEDALS. AFTER THE WAR, FOSSETT SPENT 40 YEARS WORKING FOR THE POST OFFICE. BUT IN GREENSBORO, HES FAMOUS FOR SERVING THE STUDENTS OF PECK ELEMENTARY SCHOOL. FOSSETT WAS A CROSSING GUARD THERE FOR 36 YEARS, RETIRING THIS PAST JUNE, AND HE ALWAYS ASKED, WHO AM I GOING TO WORK? NO. YOURE FINISHED. YOU ARE FINISHED. BUT HE THOROUGHLY ENJOYED. FOSSETT FLEW TO WASHINGTON, D.C. WITH THE TRIAD HONOR FLIGHT IN OCTOBER. HE AND OTHER VETERANS TOURED THE WORLD WAR TWO MEMORIAL AND VISITED THE TOMB OF THE UNKNOWN SOLDIER. ELIZABETH HAS THIS MESSAGE FOR HER HUSBAND AND ALL VETERANS. ITS JUST AN HONOR TO BASICALLY HAVE A LIVE WITH A PERSON THAT HAS SERVED OUR COUNTRY, YOU KNOW? AND IF IT WASNT FOR THEM, YOU KNOW, WE WOULDNT HAVE THE FREEDOM THAT WE HAVE NOW. THE PARADE STARTS AT NOON AND RUNS THROUGH DOWNTOWN GREENSBORO. ITS AN OPPORTUNITY FOR US TO HONOR THOSE WHO SACRIFICED SO MUCH FOR OUR COUNTRY AND OUR COMMUNITY. AT THE CAROLIN