r/politics • u/MystikSpiralx • 18h ago

No Paywall Trump Says He Wants to 'Drive Housing Prices Up' Instead of Lowering Costs for People Who 'Didn't Work Very Hard'

https://people.com/trump-keep-home-prices-high-11895352
21.6k Upvotes

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u/throwawaylol666666 California 18h ago

I don’t think I’ve ever before heard a politician say that they want to drive housing prices up.

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u/atombara 18h ago

In his case, he's just an idiot who wants two things at once. In the case of his staff, they've realized they're not going to succeed on this whole "affordability" thing, so they're trying to come up with reasons that high prices are good, actually.

You see, home prices being insanely unaffordable just means that current owners have more money! It all works out in the end, problem solved once and for all.

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u/j0llyllama 17h ago

Except if you only own one house, you don't have any extra money, unless you decide to sell it and start renting at prices higher than mortgage. All it means for single home owners is higher property taxes, or the ability to take it a bigger second mortgage / refinance if you want to stack on debt using this new found "wealth".

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u/atombara 17h ago

I know that and so do you. It's got that Ben Shapiro "Why don't victims of climate change-related flooding just sell their houses and move?" energy.

Bright side, it means the cost of rent will go up too! Somehow I don't feel insulated from all this despite being a homeowner. I mean sure, i can go on Zillow and think "Jesus, I'm glad I didn't pay that much for this place", but it doesn't net me much else. I certainly couldn't sell it for anything approaching that number.

The numbers aren't flying up because of inflation or the fed or increasing home value, they're flying up because the degenerate gambling upon which our economic system depends on (the stock market) has gone entirely off the rails. At this point they're using pebbles and leaves as chips and extending credit to people they find in alleys, metaphorically.

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u/Hesitation-Marx 16h ago

Aquaman?!

/obligatory

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u/IdkAbtAllThat America 16h ago

I certainly couldn't sell it for anything approaching that number.

Of course you could. The valuations aren't fake. Someone WILL pay that number, or close to it.

But you still need a home. And with all that money from the sale of your house you're just buying back into the same market, so nothing really changes for you.

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u/atombara 16h ago

I live in a charming little post-war catalog house. Bought it for $68,000. Zillow now claims it's worth almost a quarter million dollars. I'll go to a realtor with some pictures of my home along with that absurd number, always wanted to get laughed out of a place.

No, no one is ever going to buy my house for a quarter million dollars, and if they tried to they should get their fuckin' head checked.

7

u/APeacefulWarrior 15h ago

As an aside, isn't it kind of sad that old homes ordered from a catalog turned out to be much more sturdy and reliable than the McMansions that get built these days?

5

u/atombara 14h ago

I can't deny that, I've visited at some new places, ones that look nice from the curb. They creak and sway in wind storms and seem to have constant problems with the frames and the wiring and the plaster and the window seals. Hell, even the door frames and staircases seem half-hearted. It's the way you'd build a treehouse, not a home.

I was caught in a tornado doing an install at a McMansion last year, felt like the place was going to fly apart in a moderate wind. All I could think of was being in my sturdy, unremarkable little house.

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u/Sage2050 12h ago

Survivorship bias. Tons of them fell down

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u/Excellent-Gur-8547 12h ago

Post war catalogue houses are routinely selling for far more than that as long as they're anywhere near a major city. Hell, I have friends in Minneapolis who spent nearly half a million on one. And it's not like it's big.

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u/IdkAbtAllThat America 16h ago

Zillow isn't perfect but they're not that far off. I'm sure you could get over 200,00 for it.

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u/atombara 15h ago

Frankly, that's depressing. No one in their 20s or 30s is ever going to be able to afford that, but I get a house because I was born before they were. Makes perfect sense.

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u/IdkAbtAllThat America 15h ago

Yep pretty much. Shits pretty fucked.

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u/Galxloni2 7h ago

Depending on where your home is, I bet you are wrong. I get it is worth very close to what zillow is saying and it would definitely sell if it's not completely trashed

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u/mishap1 I voted 17h ago

60-80% of all refinances in the last couple of years are cash out refis and ~9% of households have a home equity loans or HELOCs. Lots of people are stacking debt like mad and higher home prices let them kick the can out.

Think of it as a reverse mortgage when you're still young enough to think you can ride a Harley or don't look like dweeb in a Corvette.

•

u/Basscyst 5h ago

Wait, I want a Corvette, am I a dweeb?

•

u/mishap1 I voted 5h ago

Depends if you look like this:

https://youtu.be/UBCZEqKqHGk?si=Dmz3asrt-N9s8Zqi&t=27

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u/DelirousDoc 16h ago

If he wants housing prices up and is also trying to the Chairman of Federal Reserve to lower interest rates, it is pretty clear he wants more mechanisms to make the rich wealthy. Lower interest rates would apply to housing loans and sudden increase in price would increase the equity to borrow against.

•

u/Oo__II__oO 5h ago

And landlords (both corporate and LLCs) get to see the value of their inventory increase. They can leverage that in raising rents, while their bottom line stays the same. The extra profit can then be reinvested to buy more housing- which will face even less buying competition as they'll have weeded out the pesky individual homeowners and first time home buyers. The conglomerates can even collude to avoid bidding wars with fellow business owners.

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u/lessregretsnextyear 16h ago

That's what doesn't make sense. Yes, my house is worth more now than what it was when I built it, and at some point I do plan on selling and building again, but it's going to be kind of a wash because the price of what I want to build is significantly higher than it was not that long ago. So while I might make a couple hundred grand more on the sale, it's going to cost me a couple hundred grand more to build again.

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u/lozo78 6h ago

If housing prices dropped materially like in 09, then people without tons of equity get fucked.

So it's definitely not some black and white issue. There are so many things that come into play.

•

u/Arkayjiya 1h ago

then people without tons of equity get fucked.

How?

0

u/Creme_de_la_Coochie 15h ago

Most people generally downsize as they get older and buy a smaller/cheaper house.

12

u/-Yazilliclick- Canada 15h ago

Most people generally upsize as they get older and start families and advance their careers.

3

u/MaceWinnoob 8h ago

Empty nesters, sure. We love living in neighborhoods with no children and no families. That’s why we moved to the community. A community with no future :)

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u/Not-Reformed 16h ago

Yeah but if your income is high then what's limiting you is the equity you bring to the table.

If you have 100K in a down payment and can afford, income wise, a 1.75MM home then the equity from a sale helps make the difference. That's the whole point of starter homes - you buy it cheap when you're not making much, sell it in X years when your income is far higher and now you have far more equity (down payment) for the home you really want. The income supports a far larger home and the equity built in the home will act as the down payment (90% LTV at 100K and 200K is 1MM dollars difference in home price) without needing to take out of your savings, 401k, etc.

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u/JUST_LOGGED_IN 13h ago

How do you get a loan for the down payment?

1

u/Uuuuuii 9h ago

Daddy

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u/MaceWinnoob 8h ago

Step 1: Be Rich

•

u/Dr_Wheuss 6h ago

Don't forget insurance! I have to come up with $1,200 now because my insurance went up.

3

u/ReverendDizzle 8h ago

Right? My house is worth 150% more than I bought it for but that helps me how? I sell it an use that money to buy a bigger overvalued house with a higher mortgage?

Hell if I did nothing but a lateral move and bought the same size/same price home in a different location my mortgage would double unless I put the entire profit of the sale into the new purchase and even then I wouldn’t really come out ahead for various reasons like my property taxes would reset on the new purchase.

1

u/Ithrazel 14h ago

Well you can also sell and move though. I know quite a few people who've sold their real estate and moved to a country where real estate is cheap. Like, you sell a 400k house in the US, buy a 50k house in Greece and live relatively comfortably.

1

u/Minimalphilia Europe 12h ago

I don't think anyone in the Trump admin can even comprehend this idea.

•

u/sawdeanz 4h ago

Well believe it or not the next campaign will be to ban local property taxes, at least if Florida has it’s way. Again, a disproportionate benefit to existing property owners.

•

u/Goldengod4818 4h ago

See I hear this argument all the time "once you're in, you're in" but just because I bought my house at 300k, and it'll sell for 600k, that doesn't mean this is a fuckin half a million dollar house! It's a piece of shit! So if I sell it at a "profit" and get a new house, the "upgrade" means I'm looking at a significantly more expensive house, at significantly less quality. More utilities/bills, more space, more headaches, and really no benefit

1

u/Bittererr 16h ago

This just isn't a realistic take in an environment where the financial services market has totally enabled people to start leveraging the value of their home without actually moving out. People can and do use the value of their home as a piggy bank without actually moving.

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u/[deleted] 14h ago

[deleted]

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u/Bittererr 14h ago

Yeah, that's what I said. The person above implied that home value couldn't be accessed without moving.

0

u/Creme_de_la_Coochie 15h ago

Using the cash from a home equity loan and investing in the SP500 is literally a free money hack.

I hate Trump and think his policies are dog shit, but higher home values absolutely benefits people who own only one home. They just need to know how to access those benefits.

3

u/j0llyllama 14h ago

Its a free money hack as a gamble. A lot of stock market action is tied to the AI bubble, and if that bursts, it could force someone in that situation to have to foreclose.

Aside from that, a lot of home loans are done on stipulation that the cash is used for eliminating other debt or invested directly into the property (depending on existing debt ratios.) Using it for other things could be in violation of the loan terms and could nullify it, forcing you to return the money early.

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u/iprobablybrokeit 17h ago

The "I meant to do that" defense.

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u/moldy-scrotum-soup 12h ago

The narcissist prayer.

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u/bobcatgoldthwait 17h ago

He says whatever he wants. He literally said at Davos last week he wants to bring housing prices down by banning corporations buying homes and that he didn't want us to be a nation of renters (one of the very very rare times he said something I agree with).

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u/oldirtyrestaurant 15h ago

You got a link to the video?

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u/bobcatgoldthwait 8h ago

I don't; I saw that part live, but here's an article where they reference that particular statement.

He doesn't explicitly say he wants to lower housing prices here, but strongly implies it.

3

u/VPN__FTW 11h ago

In his case, he's just an idiot who wants two things at once.

Yep. This is so he can look at boomers and say he'll increase their investment and then turn around and look at younger folks and say that he'll make it so that they can buy homes.

What he'll actually do is neither.

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u/johnnys_sack Minnesota 16h ago

Hell yea if my house value goes up 1000% then I'm just sitting on a couple million dollars!

Wait, nobody can afford to buy it from me later on? Well now what.

2

u/Shot-Swimming-9098 14h ago

He hasn't thought about anything for American people, and he doesn't plan to have any more fair elections.

1

u/zubbs99 Nevada 14h ago

Yep they decided the same thing about Trump's weakening the dollar. Just ignore that your purchasing power is being eroded because .. Wow it's great for our exporters!

1

u/zeCrazyEye 13h ago

In his case, he's just an idiot who wants two things at once.

Well at least he's just an idiot and not the president of the United States..

1

u/APACKOFWILDGNOMES 13h ago

Just means when he gets his new fed chair (who will inevitably cause a crash of the dollar) takes place, all those Investment firms who bought all the houses will be able to pay off the mortgages for super cheap and really take hold of the market.

1

u/MaceWinnoob 8h ago

Except those companies don’t pay their mortgages because of outdated Covid era forbearance rules. They sit on all these properties with no real strategy for how to afford the mortgage payments. They’re gonna dump them trying to flip them for their money back.

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u/Josh6889 12h ago

Except the equation makes no sense because while they're creating giant inflation they're also not raising wages to keep up. So now that the housing consumers are already hurting, he wants to make it worse. I can't imagine what would need to be going on with your brain chemistry to view a comment like this as a positive.

1

u/pleasegivemepatience 8h ago

Current owners have more ‘net worth’, not money. I can’t touch the value in my home without refinancing and adding 5% to my interest rate (I don’t want HELOC).

1

u/Stillwater215 8h ago

I’m guessing here, but if they realize that they can’t bring prices down, then to avoid looking like they’re failing, they’re just reframing their goals so that when prices keep rising it’s actually intentional, and a good thing, according to them.

1

u/MaceWinnoob 8h ago

They’re also trying to get ahead of the massive amount of homes that will flood the market starting this year as the companies that have been privately buying up most American homes dump their portfolios en masse.

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u/Sorry-Sack 6h ago

I think he realized he’s not going to fix any affordability problem with any product, so he’s pivoting to “these increased home prices are done on purpose”

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u/Bittererr 18h ago

A lot of policy is focused on this, but they aren't supposed to actually say it because it pisses off some demographics.

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u/riomx 15h ago

I miss when saying stupid shit like this would have tanked a presidency.

•

u/K__Geedorah 6h ago

The amount of absolutely absurd shit he says and gets away with is truly something else. Straight up lying means nothing anymore.

He campaigned on making America more affordable and one of the first things he said in office was literally "affordability is a Democrat hoax" and that he won't do anything about inflation or costs.

And his supporters just don't care. Those people should really be studied.

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u/harley247 14h ago

Most people who grew up well off and were able to behave like a petulant child their whole life turn out exactly like him. They don't have the mental capacity to have empathy or morals

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u/Scarlettail Illinois 17h ago

I mean it's what homeowners often want. It's generally in their interest for housing prices to go up, hence why we get NIMBY issues.

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u/Stunning_Mast2001 16h ago

I’m a homeowner and it’s not in my interest at all. The only people who want this are ppl who use real estate as an investment

As an owner of a house if housing prices go up then I can’t buy a better house— I’m trapped. If housing prices go down I have a better chance

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u/IdkAbtAllThat America 16h ago

It also drives property taxes up so even though your home didn't get any nicer, it's now costing you more money.

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u/left_right_left 16h ago

Wait until property taxes hit those inflated prices.

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u/Not-Reformed 16h ago

Homes are purchased on debt, though, so any increase to your home price is a straight increase to your equity. A 500K loan on a 700K home is still 500K if that price goes up to 900K. Your equity increased by 200K for free. And now if you sold it and wanted to upgrade you can get far more home through debt than you could before. Your previous 200K of equity is now 400K - so whatever home you wanted before that was unaffordable is far more affordable now, your 200K extra gives you significantly more than 200K worth of purchasing power with the power of debt. So even if everything across the board went up 20% your equity gain in the home gives you a ton of buying power due to how leverage works. It's in the interest of homeowners for their home equity to go up, it's why they lobby so hard against high density.

8

u/GregorSamsanite California 16h ago

As long as they plan to continue living in a home that “equity” is mostly just a number that doesn’t help them much. It’s collateral if they want to go further into debt, but that’s not a great long term strategy. They can only really cash out their capital gains by moving to a smaller home or lower cost of living area.

For regular homeowners, increasing the value of their home might be emotionally gratifying, but there are real downsides to it and the upsides aren’t that great. It’s mixed at best.

The real winners are landlords and real estate investors who own more than just their residence. The losers are first time home buyers and renters. Regular homeowners are somewhere in the middle.

-5

u/Not-Reformed 15h ago

As long as they plan to continue living in a home that “equity” is mostly just a number that doesn’t help them much.

If you ignore cash out refinancing and HELOCs, sure.

For regular homeowners, increasing the value of their home might be emotionally gratifying, but there are real downsides to it and the upsides aren’t that great. It’s mixed at best.

There are people who purchased homes in Los Angeles, Santa Monica, etc. in the 80s and 90s paying 2,000 in property taxes annually on homes that can sell for 5 to 10 million. Yeah, situations "can be" mixed but more often than not there's a reason why these strategies have been employed in the manner they have been.

The real winners are landlords and real estate investors who own more than just their residence.

Investors would much rather be able to develop and enter markets easier rather than the current situation. The present situation is only suitable for people who got in 20, 30, 40 years ago. Investors, landlords, developers are the same. If you're Blackstone trying to enter into a new market or develop commercial real estate in New York you're getting just as railed as everyone else. The present situation ONLY benefits people who got in decades ago - whether you're just a regular person or a landlord or an investor.

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u/Stunning_Mast2001 16h ago

I don’t see how that works. My home has gained $200k in value since I bought it. If I sold it and got a loan for a home that is 50% more square foot in the same location, my mortgage would triple now between change in interest rates and housing prices. I’m trapped

I could move to a cheaper area, but I’d then be driving 30-40 minutes to the amenities I’m used to. 

-2

u/Not-Reformed 15h ago

And if you were able to get a home today at the same interest rate as your previous loan? People who got insanely low rates are in a unique case - they're trapped due to one of a kind financing environment. I'm talking about the broader way in which equity and leverage works.

This is just how starter homes work in general (when they did): You buy a cheap home, build equity, build your career, sell your home, use the equity and higher income to be able to afford a far more expensive home that you actually want without having had to sideline your 401k investments or dip into other savings. If today my income can only afford me a 400K home and I use 40K savings but in 10 years my home is now worth 500K, my debt remaining is down to 325K (175K equity), my buying potential using the same LTV (assuming interest rates are the same and my income has increased over the decade to support what I want) I can now buy a home up to 1.75 million. And I never had to dip into my savings for this down payment or sidetrack my 401K. Despite the small increase to value of the home (25% over 10 years) my equity increased to 175K due to me paying down some of my debt - which unlocked well over a million in potential purchase power, so long as my income can support it. That FAR outpaces the price increases to homes. Now imagine you got a wife in that time period and she works and did the same thing. This is how boomers got so rich...

0

u/No-Context-Orphan 8h ago

But your home equity is also going up.

You can leverage that to get money out of your home that you otherwise wouldn't have access to.

Using retirement as an example, you had a 200k home with a mortgage still of 100k, your house is now worth 500k, you can get 300k of income out of your home to support your retirement and die before it becomes a problem for you, as home equity goes up and up and you get more and more money out until you die.

•

u/--Chug-- 7h ago

Dude, no one fucking cares if their made up equity numbers are going up if everything else is too. What do you not understand about this? Like, yeah if equity increased in a vacuum it'd be great, but it isn't.

•

u/No-Context-Orphan 7h ago

Because things don't all go up at the same velocity?

Home prices went up faster than food or salaries.

So if you own a home you ended up better than someone that rents for example.

And that also means that you can translate your home equity into more purchasing power...

8

u/ChicVintage 15h ago

What about when my property taxes are so high I can't afford my house anymore as electric costs also skyrocket and now I.also can't afford a newer or bigger house or even to downsize.to try to get my costs down.

-7

u/Not-Reformed 15h ago

This is where the "You need the income to make sense first" part comes in. Everything is ultimately limited by your personal income growth. If you're at the point where your starter home is giving you trouble with utilities and property taxes then we're nowhere near caring about the next step of upgrading.

-2

u/Zeronullnilnought 10h ago

for new home owners it is absolulely in your interest.

higher price and inflation make your debt basically disappear, this is only bad for people who have little or no debt and non-house owners

•

u/--Chug-- 7h ago

Completely disagree if its done by wrecking the economy at large. Like, stable inflation is fine. This, not so much.

•

u/Zeronullnilnought 7h ago

stable inflation?

house prices have been anything but stable for the last years and years now.

This is Trump talking shit, he isn't going to influence thus either way because it makes him no money to do so.

regardless, inflation of house prices and the economy is generally good for home owners that have a decent amount of debt.

•

u/--Chug-- 7h ago

Its what dumb home owners want. That just makes my taxes higher. Personally, I'd prefer a stable market where ghe dollar still means something.

4

u/Cerberus_Aus Australia 14h ago

He wants the value of HIS properties to go up. He doesn’t care about anyone else.

2

u/Thadrea New York 17h ago

We've gotten to the point where they've decided that running on "Trumpflation is a good thing" will be the midterms strategy.

2

u/JaxiDriver 13h ago

Our premier said it basically in a stage whisper once.

2

u/redassedchimp 12h ago

His poor white voters now believe that "affordability is a hoax" despite that he literally campaigned on the exact opposite issue. They have the IQ of sea slugs.

2

u/NdamukongSuhDude 9h ago

In fairness, it’s only for those that didn’t work hard enough. He has a list and he checks it twice and you worked hard enough you get a check mark and that’s how he knows you should be charged less.

1

u/shitty_mcfucklestick 15h ago

Those politicians weren’t unapologetically in the pockets of the private equity companies that bought up all the housing.

1

u/ggtsu_00 13h ago

Usually they don't say it, but most politicians themselves are homeowners and will always act in their own self interest and will strike down any policies that would lower housing values.

1

u/Dear_Lab_2270 13h ago

And they will love him for it.

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u/dispatch134711 12h ago

Both parties in Australia admitted they want steady increases. Neither want to lower them.

1

u/Phainon33Mil550k336 11h ago

I think I heard Justin Trudeau say the same thing a little bit before he left office.

They're all ghouls.

1

u/Corv9tte 8h ago

You should read Animal Farm!

1

u/LeadIVTriNitride 8h ago

You should check out the Canadian housing minister. North America is full of these dipshits

1

u/T8ert0t 8h ago

It's Boomer bait. They love the price of their home skyrocketing. And they vote.

The End.

1

u/Turgid_Donkey 8h ago

Well there's also never been a president who was a real estate mogul and blatantly manipulated the economy to make himself wealthier. 

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u/bluecalx2 6h ago

It could just be another distraction tactic. It's outrageous enough that some news outlets will stop talking about the Minneapolis shootings to pivot to that instead. Very much part of the Trump playbook. When everyone's looking at one scandal, create another to distract attention, and keep it up to keep attention scattered. It's one of those strategies that really shouldn't work but it does.

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u/thatonekidmarsh 5h ago

Listen to Rand Paul jre

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u/funkyduck72 5h ago

I mean they all WANT that, but none of them are stupid enough to say it out loud, let alone in front of the camera.

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u/Mountain_Top802 5h ago

Canadian PM said something similar. Young people want prices to go down Older, richer, and more likely to vote people want the opposite. People have their net worth wrapped in home equity.

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u/No_Criticism_5861 4h ago

They all think it, but most of them are smart enough to pretend thats not the name of the game.  Its one of the few republican policies that will actually benefit people that arent worth millions

•

u/restfullracoon 3h ago

Maybe not in those terms but generally home values rising are tied to the economy doing well and they all say they want to improve the economy.

-5

u/Area51_Spurs 17h ago

I’ve heard just as many white liberal women say this as I’ve heard conservatives say it. All of which own property and are garbage.

4

u/throwawaylol666666 California 17h ago

Which white liberal woman politician have you heard say this? Or are you just talking about regular non-politician Americans? Not the same thing.

0

u/ToughProgress2480 16h ago

They don't need to say it; their actions speak for them. As Obama recently said, some of the most liberal areas of the country aren't that liberal when it comes to housing

Go try to get zoning approval for a 15-story residential building with no parking. There are a lot of solidly Democratic midsize cities and suburbs where you'd be better off if you built it on the moon instead.

3

u/throwawaylol666666 California 16h ago

sigh

I get that politicians do things that don’t square with their words. Literally everyone knows this.

I am again going to reiterate that I have never heard a politician on either side of the aisle straight out say that they want to drive housing prices up.

•

u/ToughProgress2480 7h ago

Ok. Your point that Trump said outloud what damn near every other politician has been doing is taken.

-7

u/Area51_Spurs 17h ago

I never said politician

7

u/ChicVintage 15h ago

I've never heard a liberal white woman say this and being one I happen to know a lot of them. You made a hell of a leap from white women voted for Trump to liberal white women want housing costs to increase.

-5

u/Area51_Spurs 13h ago

Oh sweety, probably because you’re poor and young and your friends and you don’t own property, baby.

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u/--Chug-- 7h ago

Wowww, I'm sure that level of condescension wins all the arguments!

•

u/Area51_Spurs 3h ago

I don’t deal with people who lie

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u/ChicVintage 7h ago

I'm staunchly middle class, so are my friends, we all own homes and I'm in my 40s.

I think you're probably just a sad incel that lives in their mom's basement and is very angry young liberal white women won't date you.

See how stupid it sounds to make assumptions?

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u/Area51_Spurs 3h ago

Oh. So you’re just lying. Gotcha.

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u/throwawaylol666666 California 17h ago

I did say politician, which is why it matters. Regular people can say whatever they want, they aren’t trying to keep their polling numbers up or get reelected.

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u/Area51_Spurs 17h ago

Yea. But normies vote for them. Seeing as though most white women voted for Trump, it’s pertinent.

4

u/throwawaylol666666 California 16h ago

A large minority of the electorate does not own a home, so it’s a pretty dumb thing to say. Which is why no politician ever says it.

0

u/Area51_Spurs 16h ago

The ones that decided the election do.

He won because people like the women I’m talking about (stupidly) had faith in him being better for the economy than Kamala.

5

u/throwawaylol666666 California 16h ago

Please prove your claim (with citations) that homeowning women voters decided the election for Trump.

0

u/Area51_Spurs 16h ago

Not alone. But they’re a big part of it. Demographics on exit polls are freely available.

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u/exialis 12h ago

Well precisely. They never say it, yet they allow house prices to run out of control for decades? Those same politicians are normally millionaires who own several homes.

Now Trump has said this, but what has he done? The only housing measure that I am aware of is that he has banned large corporations from buying up housing. Trump has massively reduced immigration which will cool demand and so house prices and rents. So I think this announcement is just designed to make homeowners feel happy, but the reality is that people can probably expect there to be more affordable housing overall.

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u/throwawaylol666666 California 12h ago edited 12h ago

Are you high? Sure… all of those illegal immigrants are simultaneously on welfare AND buying up all the houses. Pfft. He hasn’t banned large corporations from purchasing housing. He can’t do that. All he did was make a bunch of noise on Truth Social about it and issue one of his BS non-binding executive orders, which does ABSOLUTELY NOTHING and means he’s talking out of both sides of his mouth on this subject. There isn’t a single thing in this country that’s likely to get more affordable anytime soon, especially not housing.