"When there aren't enough houses for everyone who wants to buy one, the price goes up as wealthier people bid up the cost of existing housing. Building more houses would drive down the prices of existing houses. That's good for people looking to enter the housing market, but many existing homeowners view their homes as investments, assets they believe should appreciate faster than inflation over time."
"Existing housing, people that own their homes, we're going to keep them wealthy, Trump said. We're going to keep those prices up. We're not going to destroy the value of their homes so that somebody who didn't work very hard can buy a home. Buttigieg called out Trump, reminding people that he campaigned in 2024 on lowering the cost of living."
Donald Trump said he wants to drive housing prices up to preserve the value of existing homeowners' investments and suggested that people who cannot afford homes 'didn't work very hard.' The position aligns with NIMBY attitudes that oppose new housing to keep supply tight and prices rising. Building more houses would increase supply and lower prices for prospective buyers. Pete Buttigieg criticized Trump's comments, said the country should build more housing, and linked higher interest rates to Trump's tax cuts for the wealthy. Buttigieg emphasized that most people who want to buy homes are working hard and that lowering the cost of living was a 2024 campaign promise.
Read at www.lgbtqnation.com
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