👉 The term "mortgage 21st" is a term used to describe the current financial crisis of late 20th century America. It was coined by a 65-year-old man named Jack "the Moneymaker," who lived during the Great Depression.
Jack's explanation for why he chose the name "mortgage 21st" involves the idea that when you start a mortgage, it pays off and turns into debt. But when he started his business, which is to sell mortgages, he thought of it as an investment where he could make money. The term stuck with him and was later used in jokes and memes. One example sentence using "mortgage 21st" might be: "I just bought a home that's worth $500,000, so I need to start paying off my mortgage on it next year! This is the same as investing in the stock market!"
