Trump’s housing market conundrum
- As President-elect, Donald Trump faces a housing market with rising home prices and high mortgage rates, which are expected to continue affecting affordability.
- National home prices have increased by 37% from January 2021 to October 2024, with the average home price now at $484,000, according to the US Census Bureau.
- Trump plans to ban mortgages for illegal immigrants and eliminate federal regulations to address housing costs, although some economists warn these policies may worsen the situation.
- Experts believe that addressing mortgage rates is crucial for improving housing affordability, as many buyers are now accepting higher rates around 6% as the norm.
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