The memory of presidential candidates’ housing plans often fades quickly, but Vice President Kamala Harris’s 2022 proposal to address the affordability crisis stands out. Her plan aimed to increase the supply of affordable housing through construction incentives and offered $25,000 in down payment assistance for first-time homebuyers.
This contrasts sharply with the current housing market realities. Yesterday’s Census Bureau data revealed a significant drop in housing starts in May, the lowest since the 2020 pandemic. This begs the question: what role has the Trump administration played in making homeownership more expensive for the average American?
Trump Administration has had a negative impact with his actions. Tariffs on Canadian lumber, a key building material, have driven up construction costs. Furthermore, the administration’s proposed legislation, which would drastically increase the national debt, is likely to raise long-term interest rates, making mortgages more expensive. Finally, the administration’s immigration policies, including deportations, have reduced the pool of construction workers, further hindering the supply of affordable housing.
In contrast to Harris’s proactive approach, the GOP and Trump administration have offered no comprehensive plan to address the housing crisis. Their focus on tax cuts for the wealthy suggests a prioritization of the interests of billionaires and millionaires over the needs of average Americans struggling to afford a home.
The utter failure to establish a coherent housing policy under the Trump administration, combined with misguided efforts that only deepened the problems they were meant to fix, exposes a shocking reality of discordant priorities. But hey, those votes craved lower grocery prices—how’s that gamble treating us now?
Blue Press Journal 