A cohort of major homebuilders are reportedly working on a proposal to create one million “Trump Homes” as part of a new program to accommodate first-time buyers.
According to a Bloomberg report based on input from unnamed “sources familiar with the proposal,” the “Trump Homes” would be entry-level residences in a pathway-to-ownership program funded by private investors. One version of this program involves investors renting the homes to tenants, with a portion of monthly payments going to a future down payment. The renters would be able to buy the homes after three years of tenancy.
If one million homes were created, the program could deliver more than $250 billion worth of housing. However, a White House official told Bloomberg that the administration was not considering this program and none of the homebuilders reportedly involved in the program commented on the report.
And in concept, having private investors owning the new homes would appear to contradict a recent executive order by the president seeking to restrict institutional investor ownership of single-family housing.
So why report on something you can’t validate??? Journalistic integrity has sadly been discarded.
It’s called clickbait…..worthless!!!
Sounds like you can’t stand anything good happening if Trump gets any credit.
That’s your real objection.
Sad.
Hey, we heard a rumor and we are going to put it out there as news.
Would you rather have in censored?
In the old days we called that equity sharing. If a person can afford to rent a $1M house, they would probably buy instead of rent.
What is needed are first-time buyer, entry level homes. His plan doesn’t help.
Read the article again Elaine–it’s not $1M homes that are being built, it’s 1 million entry level, first time home buyer homes to be built. That means homes that are affordable for the first time home buyer. I think it’s great!
Agree! Ty, Elaine!
Hard to trust an unnamed source and have the White House or any of the builders endorse it. Not that it’s a bad idea.
Here in Texas (and I’m sure other states) we DO have entry level homes. They are called Lennar Homes. Some smaller ones sell for as low as the $150’s. The issue is people prioritize their Starbucks, mani/pedi, Uber eats, restaurants, etc. over owning a home.
It says above statement they are “entry level homes”. What is the objection to this?