"Homeownership has always been a symbol of health and vigor of American society, but that goal fell out of reach for millions and millions of people in the Biden era because interest rates went up so high,"
"Today, I'm taking action to bring back this bedrock of the American dream."
"In 2024, the US built less than two million new homes,"
"Those days are over."
President Donald Trump addressed high housing costs and rising interest rates during a Davos speech and pledged action to restore homeownership. Proposed measures include banning large institutional investors from buying single-family homes, purchasing mortgage debt to reduce rates, offering 50-year and portable mortgages, and permitting 401(k) use for down payments. An executive order targeted major investors and a legislative ban was requested. Trump highlighted low housing construction in 2024 and increased migration as contributors to demand. Housing experts emphasize that the core problem is a shortage of homes that will require years of state and local action to resolve.
Read at Business Insider
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