In ‘Making Money’, Huringa founder and CEO Melody Wright analyzes the state of the market as Americans hope for homeownership.
The Council of Economic Advisers’ annual report indicates that boosting housing supply and cutting red tape would help address the problem of housing affordability in the US.
“Not only does the bureaucrat tax add more than $100,000 to the cost of a home; it also acts as a barrier to home construction,” the report says.
“Under the Trump administration, the federal government has taken major steps to reduce the burden on homebuilders imposed by federal regulations. Reforms at the state and local levels to address the sources of the six-figure bureaucrat tax would significantly increase the ability of supply to keep pace with stronger demand,” the report said.
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President Donald Trump walks to reporters before answering questions before boarding Air Force One April 10, 2026 at Joint Base Andrews, Maryland. (Win McNamee/Getty Images/Getty Images)
“If housing construction and the growth of the single-family home stock had continued at their historic pace instead of declining dramatically after 2008, there would be ten million or more single-family homes being added today,” the report said.
The document claims that the nation “was in the midst of a national housing affordability crisis that reached historic severity as a result of the previous administration’s policies.”
“Census New Residential Sales data shows that the share of new homes available for less than $300,000 has fallen from just under 1 in 2 in 2019 to 1 in 6 in 2024,” the report said.
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Aerial view of single-family homes lining the streets on April 2, 2026 in Thousand Oaks, California (Kevin Carter/Getty Images/Getty Images)
The document indicates that the current government’s crackdown on illegal immigration is helping to tackle the housing problem.
“The Trump Administration is also committed to addressing the drivers of housing demand that compete with American families. First and foremost, President Trump has secured the U.S. border and reversed the Biden Administration’s open-borders policy, which has led to waves of illegal immigrants that have driven up rents and home prices. In addition, President Trump has issued an executive order banning institutional investors from buying up any more single-family homes that could otherwise go to an American homeowner, and has called on Congress to enact the policy into law lay,” the report said.
NEW JERSEY IS OVERTAKING THE U.S. Housing Market, Tops The Nation In Price Growth
President Donald Trump waves to the media after exiting Air Force One at Miami International Airport on April 11, 2026 in Miami, Florida. (Tasos Katopodis/Getty Images/Getty Images)
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“The Trump administration has decisively shifted economic policy from the Biden administration’s approach of government-driven demand and government-distorted supply to a new posture of private-sector-driven demand and healthy supply, unleashed by deregulation, pro-growth tax breaks and America First trade,” the report said. “By expanding economic potential, these policies have allowed 10-year Treasury yields to fall by half a percent, putting downward pressure on mortgage rates. President Trump has also outlined a plan for Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds to further lower mortgage rates. In total, mortgage rates have now fallen nearly a full percentage point from January 2025 levels, promising substantial savings for the American people if no further rapid increase in house prices is taking place.”
