Another foolish idea by the President kicked to the curb...
Bill Pulte says White House moving away from 50-year mortgage plan
Source: The Hill
Federal Housing Finance Agency Director Bill Pulte indicated Friday that the Trump administration may be moving away from a 50-year mortgage proposal floated as a way to lower costs for homebuyers. “I think we have other priorities,” Pulte told reporters when asked if the White House was still considering the idea.
His comments came just days after President Trump, who successfully campaigned on tackling the affordability crisis, called for a ban on “large institutional investors” buying single-family homes. “People live in homes, not corporations,” Trump said in a Truth Social post, while also placing blame on former President Biden’s administration for inflation.
Institutional investors, such as private equity firms and hedge funds, have been criticized for purchasing properties in bulk, limiting the housing supply and thereby driving up costs for renters and buyers. Those investors, defined as owning 100 or more properties, owned approximately 1 percent of the total single-family housing stock as of last June, according to the American Enterprise Institute.
Pulte said Friday there would be no “forced sale” of institutional homes through Trump’s expected executive action.
Read more: thehill.com
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