President Trump says he wants to drive housing prices up, not down

[Yo_Mama_Been_Loggin]

Source: USA Today

WASHINGTON − Amid growing affordability concerns across the nation, President Donald Trump said he is looking to drive housing prices further up, not down.

Trump said at a Jan. 29 Cabinet meeting he wants to make it easier for Americans to buy homes ‒ but not by making housing less expensive. Instead, he suggested lower interest rates he expects from his upcoming pick to lead the Federal Reserve will allow more Americans to buy homes even as housing prices rise.

"I don't want to drive housing prices down. I want to drive housing prices up for people that own their homes," Trump said. "And they can be assured that's what's going to happen."

Trump has been rolling out several policy proposals and actions aimed at addressing affordability and housing as Americans continue to express cost-of-living concerns. That includes a Jan. 20 executive order banning institutional investors from buying single-family homes in a push to expand home ownership. The Trump administration is also purchasing mortgage-backed securities to lower mortgage rates.

Read more: https://www.yahoo.com/news/articles/president-trump-says-wants-drive-212545196.html

---

You want more homeless

[Prairie Gates]

1. He's a profoundly stupid person, and it's been made worse by dementia

[Irish_Dem]

2. Who benefits and how from higher home prices?

And how does Trump get his cut??

[eppur_se_muova]

3. Go for it, dude ! nt

[progree]

4. The Fed lowering the Fed Funds rates will not bring down mortgage rates -

The Fed Funds rate is an overnight lending rate between banks. It affects short term rates , but long term rates, like mortgage rates, are based on lenders' perceptions of risk and future inflation. Under conditions like those recently, with inflation at best "sticky" well above the 2% target, lowering the fed funds rate increases the likelihood of resurgent inflation.

I've observed this dynamic this past year -- the Fed lowers the fed funds rate and yet often mortgage rates and bond rates like the 10 year T-note increase. Nearly half my investable net worth is bonds and other fixed income stuff, so I watch this stuff closely.

Now if the Fed does additional things like buy mortgage-backed securities, then that will push mortgage rates downward or less upward than they would otherwise go. But still, the dominant factor is lenders' perception of risk and future inflation expectations.

[mdbl]

6. He's too stupid to find this out first

Just like everything else he's done.

[mtngirl47]

5. He only looks at ownership as an investment, not a home

He is happy when prices go up....buy low, sell high.

He has no concept of needing and wanting a safe, secure and affordable shelter.

How the hell did we end up with a stupid president with no empathy?

[mdbl]

7. This will just cause real estate taxes and insurance to go up

People can't afford those things now. What a maroon.

[Buddyzbuddy]

8. He's a genius I tell you.

While your at it, get rid if those pesky regulations that make getting a home loan so difficult. No more having to qualify. Bring back the liar loans. You know, stated income accepted. Let's have a repeat of 2008. You can have adjustable loans starting at 3% so everybody earning $30k a year can get into their first $500k home. Let them figure out what to do when that rate hits 8% +. That's their problem, right.
Whatever you do, don't stop the gravy train for the hedgefunds.

[Puppyjive]

9. He is losing young people

They can't afford the houses that are for sale now. I cant wait until these young people who have been screwed over get in charge. When you make a decent living and still can't afford to buy a home, it turns into resentment. I hope they stick it to the mortgage industry and greedy landlords.

[Talitha]

10. More Epstein smoke...

[BaronChocula]

11. He's gonna try to sue the Democrats

for using him in all their commercials.

[TRUMP CLIP]: I don't want to drive housing prices down. I want to drive housing prices up...

VOICEOVER: It's what trump wants, so it's what [x republican] wants. But it's not what WE want.