"President Donald Trump's bid to put home ownership in reach for more Americans is sputtering, just weeks after it launched. With voters signaling that pocketbook issues are top-of-mind ahead of the November midterm elections, the White House has floated a series of trial balloons aimed at lowering the cost of buying a home, only to see several shot down by Congress, the financial industry or even Trump himself."
"The result: About six weeks after he promised "some of the most aggressive housing reform plans in American history," the administration has struggled to get new policies in place while mortgage rates recently inched higher. Trump acknowledged the corner he's painted himself into, waffling about the very idea of bringing down housing costs if it means existing homeowners get hurt. "We're not going to destroy the value of their homes so somebody who didn't work very hard can buy a home,""
"Trump's inertia on the issue comes as a majority of Americans say he isn't doing enough to address their broader cost-of-living concerns. A January CNN-SSRS poll showed that 64% of respondents said Trump hasn't gone far enough in trying to reduce the price of everyday goods. A New York Times/Siena poll found that 51% of registered voters think Trump's policies have made life less affordable, compared with 24% who think they've made life more affordable."
President Donald Trump launched housing affordability initiatives that have largely stalled within weeks. The White House proposed several measures to lower home-buying costs but many were blocked by Congress, the financial industry, or by internal backtracking. The administration has struggled to implement new policies while mortgage rates have edged up. Trump expressed reluctance to reduce housing costs if doing so would lower existing homeowners' property values. Polling data show majorities of Americans view cost-of-living and housing affordability as unaddressed concerns. Home prices rose over 50% from pre-pandemic levels and rents increased about 35%, while the median age of first-time buyers reached 40.
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