A senior Treasury adviser just threw cold water on the 50-year mortgage concept floated by the administration. The advisor's take? If the Federal Reserve would just pick up the pace on rate cuts, we wouldn't even need such extreme measures to tackle housing affordability.

The core argument centers on the Fed's cautious approach to monetary easing. According to this perspective, the central bank's slow-walk on lowering rates is the real culprit behind stubbornly high housing costs. Drop rates faster, the thinking goes, and conventional 30-year mortgages become affordable again—no need to stretch terms out to half a century.

It's an interesting clash of solutions: structural innovation versus traditional monetary policy. The housing crisis keeps intensifying, but whether the answer lies in reshaping loan products or simply loosening monetary conditions remains hotly debated among policymakers.