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  • The Week Evening Review
    An extended mortgage proposal, Putin’s ‘nuclear tsunami,’ and an ASL battle

     
    Today's big Question

    Would a 50-year mortgage make home owning attainable?

    The American dream feels increasingly out of reach. The average age of first-time home buyers is now 40, and home prices have skyrocketed for years. So President Donald Trump is offering a purported solution: the 50-year mortgage.

    Trump’s proposal “could meaningfully reshape a housing market where 30 years is the norm,” said CBS News. The extended term is a “potential weapon” for “ensuring the American dream,” said Federal Housing Finance Agency Director Bill Pulte. Spreading house payments out over a half-century would offer buyers “lower monthly payments” but with the significant downside of a “dramatic increase in the total cost of the loan” thanks to interest payments, said CBS. 

    What did the commentators say?
    The idea is “ridiculous,” said Michael Tomasky at The New Republic. Thirty-year mortgages let “typical” homeowners pay off their loans by the time they are in “their mid- to late-sixties.” That, in turn, lets those owners use the rising value of their homes as a “nest egg” for retirement. Extending those payments by 20 years would erase that advantage.

    A 50-year mortgage “isn’t the worst idea ever,” said Jonathan Lansner at The Orange County Register. “Few borrowers” hold onto 30-year mortgages for their full terms, either refinancing them or paying them off early. There’s “no reason” to think longer-term loans would behave differently. Savings could amount to a “few hundred bucks” monthly for most buyers. 

    One downside is that homeowners who sell before paying off their mortgages “will get less of the home’s value” under a 50-year loan, said Allison Schrager at Bloomberg. That seems to be a likely issue, because most owners “only live in their homes for less than 20 years.”

    What next?
    The share of first-time home buyers has dropped to a “record low” of 21% of all home purchases, said The National Association of Realtors. That reflects a housing market “starved for affordable inventory,” said NAR’s Jessica Lautz. 

    Today’s buyers are “building less housing wealth and will likely have fewer moves over a lifetime as a result,” said Lautz. And right-wing influencers, including Laura Loomer, Mike Cernovich, Christopher Rufo, Sean Davis and Rep. Marjorie Taylor Greene (R-Ga.), “blasted the idea” as “bad politics and bad policy” that could “raise housing costs in the long run,” said Politico.

     
     
    QUOTE OF THE DAY

    ‘Donald Trump doesn’t know anything about Chicago. He still thinks Chicago is some place that’s on fire like Portland.’

    Illinois Gov. J.B. Pritzker (D) on the president’s deployment of the National Guard in Chicago and Portland, among other cities. Trump is “demented. He really has no idea what he’s doing,” he added. 

     
     
    The Explainer

    Putin’s new ‘nuclear tsunami’ missile

    Russia has successfully tested an underwater nuclear torpedo powerful enough to “put entire states out of operation,” said Vladimir Putin at an event for Ukraine war veterans last week. Russia’s new nuclear submarine, Khabarovsk, is armed with this autonomous Poseidon missile. And experts believe it breaks “most of the traditional nuclear deterrence and classification rules,” said The Guardian. 

    What’s the weapon? 
    Said to be 66 feet long and nearly 7 feet wide, the missile can travel up to 6,200 miles at speeds of up to 115 miles per hour deep below the surface of the water. “Launched from a submarine like a torpedo,” the missile is “able to loiter as an underwater drone” before deploying a nuclear warhead “capable of triggering a radioactive tsunami to render coastal cities uninhabitable.” Recent estimates indicate a bomb of 2 megatons, roughly 100 times more powerful than the atomic bombs dropped on Hiroshima and Nagasaki in 1945, said Naval News. 

    What does Moscow say? 
    There’s “nothing like this in the world in terms of the speed and the depth of the movement of this unmanned vehicle,” and there are “no ways to intercept” it, said Putin. Khabarovsk and its missiles “enable” Russia to “successfully secure” its maritime borders and “protect its national interests in various parts of the world’s oceans,” said Defense Minister Andrei Belousov. A  report on Russian television boasted that one Poseidon missile could cause enough damage to “plunge Britain into the depths of the sea,” said the Daily Mail. 

    A new nuclear arms race? 
    News of the launch prompted President Donald Trump to order the U.S. military to restart nuclear tests for the first time in 33 years, although he said the U.S. would do so on an “equal basis” to other countries. As neither China nor Russia has carried out an “actual explosive nuclear test,” Trump “probably” means “reciprocal testing of nuclear-capable missiles,” said The Telegraph. 

    Trump’s announcement still “bolstered concerns” that the world is “sliding into a new nuclear arms race,” said the Financial Times. A return to U.S. testing would be a “highly retrograde step,” providing a premise for other states to ramp up their nuclear weapons programs and encouraging non-nuclear states to “pursue their own.”

     
     

    Statistic of the day

    $5.83 billion: The amount for which investment firm SoftBank has sold its entire stake, 32.1 million shares, in Nvidia. The microchip corporation became the first company valued at over $4 trillion in July and the first at over $5 trillion last month.

     
     
    Talking Points

    A free-speech debate over sign language at the White House

    Disability advocates are taking their latest fight to the Trump administration, where the White House has been accused of discriminating against deaf Americans. The administration decided to axe a Biden-era policy that used sign language interpreters during major White House events, including all press briefings, and is now arguing in court that interpreters should only be required in certain instances.

    ‘Clear, present, and imminent harm’
    The National Association of the Deaf (NAD) criticized the administration’s decision in a lawsuit, and at least one federal judge agreed. U.S. District Judge Amir Ali ordered the White House to restore interpreters to all press briefings conducted by either President Donald Trump or White House Press Secretary Karoline Leavitt. The court found that “denying deaf Americans access to and the benefit of it presents a clear, present and imminent harm,” Ali said in his ruling.

    This is due to the “nature of the programming at issue” during press briefings, including “regularly scheduled briefings on critical topics,” Ali added. These people have the “right to the same access to White House information as everyone else. Denying them ASL interpreters is a direct violation of that right,” said Dr. Bobbie Beth Scoggins, the CEO of NAD, in a statement. 

    The original choice to do away with interpreters was because the president “seemingly does not like the idea of sharing the spotlight with others,” said The Independent. The NAD previously won a victory during Trump’s first term by “taking the administration to court over a failure to make coronavirus briefings accessible.”

    ‘Major incursion’
    The administration has claimed that the scope of the ruling is too broad. It says interpreters “should be limited to regularly scheduled briefings and not other events where the president takes questions from the press,” said NPR. Requiring Trump to “share his platform with ASL interpreters every time he or his press secretary communicates with the nation is a major incursion on his central prerogatives,” attorneys for Trump said in a court filing.

    The administration is currently appealing the judge’s decision. But the White House has said it will “proceed with providing ASL interpreters for ‘publicly announced press briefings,’” said DisabilityScoop. The administration also noted that it “continues to have a contract with an ASL interpreter service that extends into 2028.”

     
     

    Good day 👪

    … for continuing family legacies. Jack Schlossberg, the son of Caroline Kennedy and only grandson of former President John F. Kennedy, has announced he’s running for an open House seat in New York. The Democratic influencer, 32, is known for his videos criticizing Republicans.

     
     

    Bad day 🍸

    … for drinking heavily. Significant alcohol consumption can lead to more severe strokes and cause long-term brain vessel damage, according to a study published in the journal Neurology. Stroke patients who drank heavily were found to have brain bleeds about 70% bigger than those who didn’t drink. 

     
     
    Picture of the day

    South awe

    The aurora borealis lights up the sky over Monroe, Wisconsin, during one of the strongest solar storms in decades last night. The geomagnetic event pushed the northern lights deep into the continental U.S., appearing as far south as Alabama.
    Ross Harried / NurPhoto / Getty Images

     
     
    Puzzles

    Daily crossword

    Test your general knowledge with The Week's daily crossword, part of our puzzles section, which also includes sudoku and codewords

    Play here

     
     
    The Week recommends

    Battles of all sorts are at the center of these new movies

    This month’s movies oscillate in size. There are big budgets and complex musical numbers alongside small, quiet and contemplative tales. One aspect this month’s new releases have in common: They feature someone battling something.

    ‘Die My Love’
    Jennifer Lawrence (pictured above) stepped away from the limelight for several years. Her return is marked by “Die My Love,” a film about a young woman named Grace who begins to experience postpartum psychosis. The story is also about Grace’s relationship with her husband, Jackson. In that role, Robert Pattinson is an “ideal foil for Lawrence,” said The New York Times. (in theaters now)

    ‘Train Dreams’
    This movie could be the “Best Picture sleeper of the Oscar season,” said Variety. Clint Bentley’s adaptation of Denis Johnson’s Pulitzer Prize finalist novel is set in the Pacific Northwest and stars Joel Edgerton as a railroad worker and logger. The project “paints a portrait of grief and transformation with meditative precision and visual poetry,” said Variety. (in select theaters now, Nov. 21 on Netflix)

    ‘Wicked: For Good’
    “Wicked,” the first half of a two-part adaptation of the powerhouse Broadway musical, was released this time last year to great acclaim. The second movie’s release should be no different than the first in its artistic imitation of modern-day American life, said the Financial Times, since it “picks up the story of scapegoats persecuted and knowledge undermined.” (in theaters Nov. 21)

    Read more

     
     

    Poll watch

    More than two-fifths of adults over age 65 (45%) are worried they won’t have enough income to last through their retirement or won’t be able to retire at all, according to a Pew Research Center survey. Over two-thirds of the 6,156 adults polled (67%) are also worried about life in their later years. 

     
     
    INSTANT OPINION

    Today's best commentary

    ‘We are all working for the algorithm now’
    Taylor Crumpton at Time
    The “rise of the creator economy has blurred the line between the personal and the performative,” says Taylor Crumpton. For many creators, the “more intimate the moment, the more lucrative the post. The financial incentive to share has turned the private self into an asset class.” Beneath the “glamour lies a system with few guardrails. There’s no standard pay rate, no guaranteed protections for minors, and almost no labor regulation.” The “cracks are showing.”

    ‘Why Elon Musk needs Dungeons & Dragons to be racist’
    Adam Serwer at The Atlantic
    The fall of Constantinople “inspired a game, which inspired the world’s richest man to lash out because his favorite role-playing game wasn’t as racist and sexist as it used to be,” says Adam Serwer. Dungeons & Dragons is “more popular than ever, reaching far beyond its original audience of Midwestern misfits and bookish nerds,” and for “some fans, that’s a problem.” Nostalgia can be “manipulated into a belief that hounding and excluding newcomers will restore an idealized past.”

    ‘Americans hate AI. Will the Democrats join them?’
    Aaron Regunberg at The New Republic
    AI billionaires may “soon become among the top villains in American society,” says Aaron Regunberg. This could “provide Democrats with the perfect wedge issue to ride back to power, if they can muster the political courage to take the people’s side.” Last week’s election results “demonstrated the first concrete proof of the potency of an anti-AI message, as the effects of AI data centers on utility bills played a significant role in several major Democratic victories.”

     
     
    WORD OF THE DAY

    barotrauma

    Injuries to the body caused by a dramatic change in air pressure. It was originally believed that pressure shifts near wind turbine blades kill bats, but recent evidence from wind energy collaborative WREN states that impacts with the blades themselves are the more likely culprit.

     
     

    Evening Review was written and edited by Nadia Croes, Scott Hocker, Anya Jaremko-Greenwold, Justin Klawans, Joel Mathis, Summer Meza and Chas Newkey-Burden, with illustrations by Stephen Kelly and Julia Wytrazek.

    Image credits, from top: Illustration by Stephen Kelly / Getty Images; Russian Defense Ministry / Anadolu / Getty Images; Brendan Smialowski / AFP / Getty Images; Mubi /  Pictorial Press / Alamy
     

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