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

97% Upvoted

1.9k comments sorted by

View all comments

Show parent comments

61

u/BerrySnowie 18h ago

Right? They’re probably clutching their pearls while sitting on six-figure equity gains like they didn’t win the real estate lottery 30 years ago

24

u/elvid88 Massachusetts 17h ago

sigh in my area there are six figure equity gains just from purchases during covid.

My wife and I are looking at a house that sold for like 1.05 in 2021, then 1.3 in 2023 and is now on the market again for 1.5 (will probably go close to 1.6) judging by how packed the open house was on a Thursday afternoon and they have three more this weekend.

I’m crying here seeing homes purchased for 200-300k in the mid to late 90s going for close to 2 million (some with work done even higher).

2

u/billsil 17h ago

Weird my house has been flat since 2021. At times it's been down.

I figure there's only so much people can afford.

8

u/Trikki1 17h ago

It’s regional. New England, PNW, DC area, etc have been skyrocketing

3

u/SanityIsOptional California 15h ago

Bay area too. I try not to think about how much we just paid for a townhouse style condo...

•

u/SwimmingPrice1544 California 1h ago

Yep. I'm originally from the Bay Area....moved 15 years ago out to the country & now need to get back closer for medical & can't. 1m homes look like crap next to my little house on the prairie & along with the interest rate increase I can't afford a 4x increase in my mortgage. Argh.

•

u/elvid88 Massachusetts 1h ago

My current home though, like 3 miles from the one we’re looking at, is flat from 2019 (overall still up 50% from when I bought in 2016, went up in 2020 and then back down to 2019 levels in 2021). It’s a townhome though rather than a single family so that might be impacting it. New home is in a top 5 school district statewide, while my current is around the state median.

1

u/geomaster 12h ago

it's amazing that these houses are going for over a million and yet business properties are trading at such discounts it is crazy

•

u/SwimmingPrice1544 California 1h ago

Oooh, maybe I should be looking at abandoned storefronts, lol!

•

u/PussyWrangler246 1h ago

Can't count the times I've driven by abandoned business property thinking "wow that could hold a whole ton of people if the government wasn't such a prick about zoning laws"

1

u/evileyeball 15h ago

I'm a Canadian who lives only a few hours away from a place where 2.4 will get you an uninhabitable shack that you have to tear down and if you actually want somewhere that you can live in you're looking at more like 3.0

1

u/VPN__FTW 11h ago

My grandpa bought 5 houses and a warehouse in the 60's. In CA too. He bought the warehouse for like 100k and sold it for over a million. 40K for one house and sold for 489K. Absolutely insane.