President Donald Trump’s idea of introducing a 50-year fixed-rate mortgage has been condemned as a “ disgusting insult ” by James Fishback, the CEO of American investment firm Azoria, who says the proposal will result in “economic genocide against the Gen Z generation.”

Newsweek contacted Fishback for comment by email on Monday outside normal office hours.

Why It Matters

The U.S. is in the midst of a housing affordability crisis exasperated by stubbornly elevated borrowing costs, which shot up in 2022 following the Federal Reserve’s aggressive rate-hiking campaign to combat the rise of inflation and has since remained between 6 percent and 7 percent. During his presidential campaign, Trump promised to bring down mortgage rates and improve affordability in the U.S. housing market—go

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