Trump Issues Executive Order That Touches On Housing

A freshly inaugurated Donald Trump signed a slew of executive orders on his first day, including a memorandum titled “Delivering Emergency Price Relief for American Families and Defeating the Cost-of-Living Crisis.”
The memorandum calls for departments and agencies to deliver emergency price relief, including unspecified actions to “lower the cost of housing and expand housing supply.”
“Many Americans are unable to purchase homes due to historically high prices, in part due to regulatory requirements that alone account for 25% of the cost of constructing a new home according to recent analysis,” the memorandum reads.
It also calls for action on home appliance costs, health care, and American purchasing power at large. It demands the elimination of “coercive ‘climate’ policies that increase the costs of food and fuel.”
While running for a second term, Trump said energy action would help make housing more affordable under the premise that reducing energy prices would naturally bring down building and homeownership costs.
When he was last in office, Trump signed the Tax Cuts and Jobs Act, which lowered the corporate tax rate and created Opportunity Zones, a tax incentive program for development in lower-income areas.
“A lower corporate tax rate could stimulate housing activity, boost investment and potentially lead to increased housing market activity. Among the potential ripple effects could be a rise in construction, more supply, and lower home prices,” Mark Hamrick, Washington bureau chief and senior economic analyst for Bankrate, recently commented.