The Trump administration has issued an all-hands-on-deck call to come up with plans to address the problems impacting affordable homeownership.
In a Fox News Sunday interview, White House economic council director Kevin Hassett stated the focus on lowering housing costs is being addressed by the entire Trump Cabinet.
“We have got, like, everybody in the whole Cabinet working on trying to get housing to be more affordable,” he said. “We will have a plan – a big plan – to announce sometime soon in the new year that will be very good news for the American people who feel like it’s not affordable to buy a home anymore.”
Hassett pointed out that the average mortgage payment for “the typical middle-class family buying a first-time home went up by $14,000 per year” during the Biden administration. He promised that the Trump White House will offer “a plan that will make that go almost completely reversed,” although he offered no details on the plan or a timeline on when it would be unveiled.
“I expect most of us will be down for a chunk of the week after Christmas at Mar-a-Lago going through all the plans for next year,” he added. “And definitely, we have a big list of housing ideas that have been vetted carefully by the Cabinet secretaries to present to the president in a week or two. And we will see which ones he picks.”
Really? Like the price of eggs will go down on day 1 of his presidency. And, he would end the Russian and Ukrainian war on day 1?
The housing issue seems to be at the bottom of the list when it’s plays a major issue in the affordability crisis. A 50 year mortgage is not going to help with inventory levels. I’m not convinced that anyone has a solid plan for housing.
Alot has to happen to solve the inventory squeeze where I live ; lower interest rates , eliminate capital gains tax as more people will be willing sell their investment /rental properties
The depreciation recapture is more of a stumbling block than capitol gains on all of my rental properties. If it could be spread over 5 years or partially forgivin that would allow more investment properties to go on the market.
I’ll bet it’s 50 year mortgages or a depression to lower real estate prices.
he has a plan. FORECLOSURES and evictions. no more give aways. can’t make your mortgage payment…you need to rent…cash for keys …bye bye
Yeah right! Just like health care. Just like the economy. Just like ending the Russia/Ukraine war, etc. Too busy selling crypto, selling glorified green cards, selling merch, building, redecorating, and other personal priorities. At best we’ll see a concept of a plan.
Tariff taxes on materials adds to the cost of housing. Elimination of immigrant labor adds to the cost of housing. If you want to make housing cheaper you must make it easier, quicker and cheaper to build, own and maintain. The first step is to stop adding to the cost!