Federal Housing Finance Agency (FHFA) Director Bill Pulte is demanding that home builders ratchet up production on new housing.
In a post on X, Pulte declared, “Builders who do business with Fannie and Freddie (which is most builders) need to start building out their lot supply, including optioned land which is “ready to go”. More to come on our actions we will take.”
Pulte followed up another post that stated, “Builders need to do the right thing and build out those lots – NOW. And lenders need to do the right thing NOW!
Last October, President Trump posted on social media that homebuilders were “sitting on 2 million empty lots” and directed Pulte to “get Big Homebuilders going and, by so doing, help restore the American Dream!” However, the FHFA and its government-sponsored enterprises lack the regulatory authority to coerce homebuilders into meeting specific production levels.
Pulte also resumed his online attacks on the Federal Reserve chairman with a post that said, “Jerome Powell should resign, immediately.” Powell’s term ends in May, and he has repeatedly stated he had no plans to step down ahead of that scheduled conclusion.
with Pulte’s nose up Trump’s behind, its no surprise that he wants mortgage rates lower – because he’s gonna benefit from it – as most of Trump’s followers do! The charman of the federal reserve has everbody’s interest at heart – not his bottom line
maybe they should focus on policy that makes it economically viable to build and certainty for the buyers to buy.
What a fraud these two are. There’s no great conspiracy by which builders are hoarding lots. They are in business to make money and if the market is there to purchase their product at a price they can deliver that product, they will build it.
I have a better idea! Why don’t we re-direct all those millions of $$ from Trump’s presidential library and White House ball room to building housing? Surely Bill knows how to deliver them at an affordable price?
Individual lots are harder to build on, than open land. With higher interest rates, it’s not the most feasible way to go. Don’t forget the fees connected to building these days. Somebody needs to do something about that. They’re totally out of control.
Exactly. They come in there and they buy up all the land and then they falsely inflate the prices.