Trump Will Be the Housing President, Defining America’s Golden Age
The American dream felt like it was on life support until earlier this month when citizens took to the polls to vote for a government willing to unleash the market boom that started nearly a decade ago.
Under the Biden–Harris administration, home prices skyrocketed. Ordinary Americans have been priced out of purchasing new homes, while high interest rates made it more difficult to sell existing homes to pinched buyers. All of this is happening amid increasing numbers of unhoused citizens roaming our city streets and a millennial generation (of which I’m a part) who have chosen mobility over home ownership. (READ MORE: A Troubling Preview of Harris’ Housing Policies)
Who can blame them? The mortgages are just too damn high!
Sure, voters rejected Washington, D.C. triggered inflation that was felt at the gas pump and when buying eggs, but it was also noticed in housing too. For our fellow citizens entering the workforce, and even families who had tried to save up money, the purchase of a home has been increasingly out of reach. Democrats promised much of the same. (READ MORE: Inflation, Houses, and You)
President-elect Trump, however, will usher in an entirely new era of affordable housing.
Both Biden and Harris had plans to further inflate housing prices by growing the number of foreign residents within the country while also giving financial assistance to select homebuyers. This was a recipe for skyrocketing costs, exacerbating the problem. Fortunately, even the most desperate Americans weren’t fooled by these false promises.
What we have is an inventory problem. We need to build more homes. The increased inventory will keep markets (and our retirement accounts) happy, homebuilding companies booming, and buyers within reach of achieving the American dream.
While some chastised Trump’s brilliant plan to bring about a housing boom, I saw it as generationally changing. Let me tell you why. As the youngest director to sit on the board of a Fortune 500 Company back in 2016, we set out a land options strategy, build out strategy, and then a market strategy. Trump’s housing plan does just that.
While Democrats and those who want to grow runaway spending mock Trump’s plan to unlock a portion of the vast acres of land owned by the federal government, giving it back to the people, it’s no laughing matter. It introduces new capacity and new inventory to our housing crisis, instead of new tax dollars and newly added inflation to home prices.
In my talks with advisers and administrators likely to join this incoming administration, I’ve stressed that Trump’s housing plan should not be interrupted by shortsighted thinkers. We ought to double down on it. We need a land strategy. We need to be building homes, and new cities, where Americans are migrating. We need prices that create a win for homebuyers and homebuilders. We can do all of this in the golden age proposed by Trump.
Too often, the elitist class in America has thought of our country as an economic zone. No longer. America is a homeland with a people and an identity. Americans should own American land and American homes and safe housing. That is the American dream!
Everyone should have a stake in the homeland.
Bill Pulte is a capitalist and heir of William J. Pulte, the founder of the third largest homebuilder in America, Pulte Homes. For years, he served as the youngest director of a Fortune 500 Company before returning to full-time investing in home services, housing, and philanthropy. He has been a large contributor to Donald J. Trump’s campaigns and PACs since 2016.
READ MORE:
A Troubling Preview of Harris’ Housing Policies
US Permitting Regime is Hampering America’s Potential
Democrats Failed Gen Z. That Will Matter in November.
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