Homebuyers Face Difficult Housing Market Under Trump Presidency [Video]

Donald Trump’s return to the White House is unlikely to offer much relief to Americans struggling with soaring home prices, stubbornly high mortgage rates, and growing housing costs, as his policies could make homebuilding more expensive and push mortgage rates even further up, experts told Newsweek.

The lack of affordability in the U.S. housing market has been a major issue during this election cycle and one that both candidates tried to address in their agenda, though in significantly different ways. While Kamala Harris promised to build millions of homes, offer financial aid to first-time buyers, and ease regulations on building, Trump suggested that through reducing illegal immigration he could free millions of homes for American citizens, reducing demand on the supply-tight market.

“Throughout the election, Trump has pointed to housing affordability as a big problem. He’s said that he wants to lower mortgage rates and loosen building regulations to boost supply,” Redfin’s Head of Economic Research, …