Former President Donald Trump pledged to lower the cost of homebuying by cutting away at the regulatory burdens faced by homebuilders.
During a town hall meeting in Oaks, Pennsylvania, on Monday evening, an audience member who identified himself as a single father and Iraq War veteran stated his dream of owning a home for himself and his son but complained that “mortgage rates under the Biden-Harris administration have made that impossible.” When asked how he could make homeownership affordable again, Trump replied that “a lot of people have this question” and pointed to the costs of creating new residences.
“First of all, it’s too expensive to build the homes,” he said. “They’re building them, and they cost a fortune. And 30% of the cost in some locations is the cost of planning and certificates and all a lot of nonsense they do. They make you go through hell. It takes years to get them, zoning approvals, all of the approvals you need. We’re going to get rid of a lot of that.”
Trump added that he would work to bring down interest rates, telling the audience member who questioned him that “you’re going to buy that house and you’re going to pay two-and-a- half, 3% interest.”
The National Association of Home Builders (NAHB) has not endorsed a candidate for president, but it did fault Vice President Kamala Harris for putting forth a housing plan that did not address what the organization considered to be an onerous regulatory environment. NAHB Chairman Carl Harris, a custom homebuilder from Wichita, Kansas, said in August that the Democratic nominee’s proposals “makes no mention of reducing onerous federal regulations that add to the 24% cost burden on single family home construction or the almost 41% increase on the construction of a multifamily unit.” The NAHB did not comment on the Trump plan.
Photo: Gage Skidmore / Flickr Creative Commons
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How would cutting building’s departments applications and zoning increase home prices?
It will reduce the cost of building the properties. Unnecessary regulations–and knowing the Govt there are many such regulations–always add cost to the developers and builders, who pass that cost on to buyers. Trump looks at this problem from a business aspect: Reduce redundancy and unnecessary costs. Political lifers want to throw our money at it.
This fascist will overthrow te our democracy. He’s a narcissistic psychopath and a failed business fraud and adjudicated rapist.
Every business venture he’s done he’s failed.
We must never let him near the levers of power again. His day in court is coming.
Every aspect of your comment is false; the tone and content define “Trump Derangement Syndrome”. You and the discussion on this business site will be better served by sticking to provable facts and business, rather than divisive and fallacious political rhetoric.
Just like he would have a new Health Care Plan on Day 1 in 2016
Why does anyone follow or believe a word this orange clown says. Trump will only do what benefits Trump.
Why do you even report his word salads, so sad for the good Americans that have been drawn to this cult.
I do wish Trump would stop the hyperbole because of course it distracts from his message, just as you have done. It is the political lifer who is compelled to act in his/her own interest. Election coming up? The lifer needs to insert some pork barrel projects for his/her state. That is NOT the job of Congress. And the President’s job is NOT to promise “free” stuff.
President Trump accomplished several good things while in office: The Abraham Accords-no one dreamed it could be done. Renegotiated NAFTA with Canada and Mexico which helped trade imbalance with Mexico, helped automakers and dairy farmers. Demanded NATO nations pay their part. The mideast isolation of Iran, breaking the $$ deal with Obama. Renewable energy independence. Securing the southern border.
Couple points here: Trump is promising more “free stuff” than most any other candidate. The problem is that his giveaways are all for rich people and corporations.
I’m not sure about your amazement with The Abraham Accords. They accomplished nothing. This agreement was only between the UAE and Bahrain which are two countries that are not in turmoil with Israel. Let’s not forget about his promise of Palestine soon joining soon.
The USCMA was a bipartisan deal that is not much different from NAFTA. Yes, there are parts that helped automakers which in turn made vehicles more expensive – which MAGA people that don’t understand how inflation works – love to blame Biden for. The dairy farmers maintained the exact same free trade as before with NAFTA. His NATO dealings might be the worst ever being that he weakened this important organization saying that they were “obsolete.” The only time NATO invoked Article 5 defense was to help the US after 9/11 and then we have this knucklehead trying to convince the nation to not respect this important institution. Killing the Iran nuclear deal was nothing short of pure stupidity and ego. Please research the implications. He killed renewable energy projects, so I’m not sure what you’re talking about there. And lastly, even with his viciousness of separation kids from their parents – the influx of migrants was at the same level when he came into office as when he left office. Btw, he didn’t build a wall and Mexico didn’t pay for it.
You seem nice, but the lack of insight of how inept this man is continues to be very concerning.
Biden/Harris has done what for the better of our economy, security/safety, health care, education and society at large and don’t even try saying allowing men/boys to play women/girl sports (title 9) or using our tax money to fund multiple wars, including support to the Taliban and pay for sex change operations for prisoners and illegal immigrants?
I’ll take the orange clown over the current proverbial wrecking ball administration all day everyday.
Having served several terms as a City Councilperson and as an active Realtor over 40 years, I know first-hand about many of these “regulations”. If you do some research or attend your local Council meetings, you will learn that insurance drives many of these regulations. The cost to insure homes, especially those in high-risk wind, flood and fire areas will be high because of costs for repair/replacement. Regulations that control construction quality and location are meant to reduce costs to those communities. As for zoning regulations, have you ever heard of NIMBY? Many of those regulations are driven by the local residents.
President Trump’s focus on regulatory reduction is the correct approach to lowering costs for everything, particularly housing. Even the very “blue” state of CA is, albeit begrudgingly, finally acknowledging that fact.
Following Gov. Newsome’s 2019 declaration of a “Housing Emergency”, CA passed dozens of laws that effectively reduce the regulatory burdens (CEQA, etc.) that substantially delay and increase housing costs; more needs to be done. President Trump could make substantial strides in the right direction through NEPA reforms and other federal regulatory reductions.
Conversely, Kamala Harris will do the opposite; i.e. more taxes, regulations and government involvement in home-building. Sadly, the knee-jerk response by leftwing / democrat politicians is “more government”, which drives costs up, ignites inflation, reduces productivity and restricts economic freedoms.
The best thing government can do for any economic endeavor is to get out of the way and let the private sector do what it does best. President Trump, a highly successful former president, multi-billionaire real estate developer and free market champion, has actual experience in the real world and is the best person for the job.
Agree. Trump can do a wonderful job and improve the economy.
If Kamala Harris wants to be at the white house, I’m all for her working at the kitchen. I’m sure she will do wonderful job washing dishes.
Trump is not perfect. But we are at war, an information war; a number of psyops are being played on the people. The propaganda is thick. Our founders are rolling in their graves. We r supposed to be a Constitutional Republic not a democracy but they say democracy over & over again so that’s what people think America is. This election is a choice to save our Constitutional Republic, less govt was our founders goal. A vote for dems, for harris is to continue the controlled demolition of America; if you hate the USA vote blue. Choose wisely.