What Donald Trumps return to the White House will mean for the housing market
After a hotly contested race with big implications for the housing market, Donald Trump will return to the White House for a second term, four years after losing his first bid for reelection.Trump will be the 47th president, after securing enough Electoral College votes from the key swing states to put him over the threshold for victory.Republicans have also regained majority control of the Senate.Control of the House could take several days to determine, with a number of tight races still being counted.
A Republican sweep of the House and Senate would give Trump significant freedom to pursue his agenda, including what plans he has sketched out to make housing more affordable.In the early hours of Wednesday morning, Trump—flanked by his family—declared to supporters in West Palm Beach, FL, that it was “a political victory that our country has never seen before” and vowed to “fight for you and your future.”“We’re going to make you very happy, we’re going to make you very proud of your vote.America has given us an unprecedented and powerful mandate,” he said.Trump added that he will “not rest until we have delivered a strong, safe, and prosperous America that you deserve and that your children deserve.”The election unfolded against the backdrop of a housing crisis, with half of renters nationwide designated as cost-burdened, and record-high home prices pushing homeownership out of reach for many.On the campaign trail, Trump had blamed rising home prices on a surge of illegal immigration during the Biden administration.
He also claimed that he would somehow lower mortgage rates if elected, although presidents do not control mortgage rates.Here’s a look at some of Trump’s signature policy proposals, and what impact they might have on the housing market.Trump and his running mate, JD Vance, have repeatedly claimed that illegal immigration is responsible for America’s housing affordability crisis, by putting immigrants in competition...