Trump Says: 'I Don’t Want To Drive Housing Prices Down, I Want To Drive Housing Prices Up For People Who Own Their Homes'
You'll own nothing and be happy.
I have repeatedly warned that President Donald Trump has no real interest in solving the housing crisis in the United States (starting back in September when Treasury Secretary Scott Bessent first announced plans to address the issue, when I warned nothing good would come of it), and sure enough, this week Trump left little room for doubt about what his administration will do to address the crisis.
During a Cabinet meeting at the White House earlier this week, Trump had this to say about housing:
“We've got to get interest rates down even lower — they are now pretty low, but we've got to get them lower.
“To me, the biggest factor is interest rates for housing; only in that, you know, you have a lot of people that have become wealthy in the last year because their house value has gone up. And you know, when you get the housing — when you make it too easy and too cheap to buy houses, those values come down.
“I don't want those values to come down. We have millions of people that own houses and, for the first time in their life, they're wealthy because the house is worth $500,000 or $600,000 or more or less, but more money than it's ever been worth before. I don't want to do anything to knock that down.
“And so, I want to be very careful with this. You know, you make housing — I can turn on housing immediately, but you make it too easy, and you're going to knock the value down of people that own houses.
“I want to — for those people, those millions of people that own houses, we're going to drive those values up, but we're also going to try making it easier for people to buy.
“The best thing that can happen for both groups of people is lower interest rates, and those interest rates are coming down. And with a proper intelligent person at the Fed, that person will be able to work with us to get interest rates down. That covers all of the sins. It covers everything. Lower interest rates keep the values up for the people that have housing and lets other people buy housing.
“[…] Again, existing housing, people that own their homes, we're going to keep them wealthy. We're going to keep those prices up. We're not going to destroy the value of their homes so that somebody that didn't work very hard can buy a home.
“We're going to get — we're going to make it easier to buy, we're going to get interest rates down, but I want to protect the people that for the first time in their lives feel good about themselves. They feel like they've — you know that they're wealthy people. And I want them to understand that.
“You know, there's so much talk about, ‘Oh, we're going to drive housing prices down.’ I don't want to drive housing prices down. I want to drive housing prices up for people that own their homes, and they can be assured that's what's going to happen.”
So there you have it. Trump explicitly said he is going to make it even more impossible to own a home in the United States.
Trump said something identical to this in December, but these latest remarks by him take the cake and are the most blatant.
Just like the World Economic Forum (WEF) — now co-chaired by Trump’s friend and ally BlackRock CEO Larry Fink — has been saying since 2015, “You will own nothing and be happy.”
There are a number of things to unpack with what Trump said:
He alluded to it, but if mortgages go lower then prices rise. Lowering the federal funds rate will help bring down mortgage rates, but the value price will go higher.
But what he is not saying is that keeping prices artificially high, and now even higher, will also force owners to pay higher property taxes, something that is not going away — yet another fallacy and throwaway false promise Trump made that was never going to come to fruition.
Furthermore, what Trump defines as “making it easier” for younger Americans is a 50-year-mortgage. The interest payments people would be forced to pay would be asinine. People who are so foolish to get one, and there will be those that do, will die with it and pass it on to those who have the misfortune of inheriting it.
And while Trump just signed an executive order to ban large institutional investors from buying homes (a big nothingburger that is good for optics), touting that at the WEF in Davos (which ought to tell you that it is a screw job), he again acknowledged that in order to make prices more affordable then existing prices for owners would also have to come down, but conceded he is not willing to do that. That, and these large institutions such as BlackRock, Blackstone, Vanguard and State Street will simply create subsidiaries to get around the EO.
The administration’s actions are to protect those institutions and private equity and REITs.
What he will not also tell the public is that if existing home prices were to come down, then there would be a ton of Americans underwater on their mortgages, and they would have to file bankruptcy and they’d go homeless.
This was all done deliberately, this was no comedy of errors: making it simply unaffordable for younger generations to ever own a home, while forcing existing owners to keep paying more in property taxes (along with higher utility and energy costs because of the insane draw these datacenters, crypto mining and battery plants require). Eventually those people will not be able to keep pace (and they are not now already), and will continue to bury themselves deeper with more debt.
Yet Trump says, “We're not going to destroy the value of their homes so that somebody that didn't work very hard can buy a home.”
Yup, you’re just a lazy kid who doesn’t want to work and that’s why you can’t afford a house, a car, a spouse and children, put clean food on the table and be able to see a doctor — no, you’re just not a very diligent worker, now are you? Pull yourself up by your bootstraps, kid; work the four jobs and 120 hour workweek, cut out that avocado toast and morning coffee, and you’ll own a crummy home made out of popsicle sticks and an Elmer’s glue stick, slapped together by illegal labor, in no time!
Ecclesiastes 5:10 He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity. [11] When goods increase, they are increased that eat them: and what good is there to the owners thereof, saving the beholding of them with their eyes? [12] The sleep of a labouring man is sweet, whether he eat little or much: but the abundance of the rich will not suffer him to sleep. [13] There is a sore evil which I have seen under the sun, namely, riches kept for the owners thereof to their hurt. [14] But those riches perish by evil travail: and he begetteth a son, and there is nothing in his hand. [15] As he came forth of his mother's womb, naked shall he return to go as he came, and shall take nothing of his labour, which he may carry away in his hand. [16] And this also is a sore evil, that in all points as he came, so shall he go: and what profit hath he that hath laboured for the wind?
Homes are no longer humble abodes, and haven’t been for a long time. It’s all about wage and consumerist slavery; dog eat dog; me first, you next; unbridled, dystopic greed.
For more on what is to come, check out this study that I wrote for more details:
The Lord Of Glory: The Detailed Guide To Who God Is – Available Now!
On one of his missionary journeys, the apostle Paul visited Athens, Greece, where he said he witnessed “the city wholly given to idolatry,” and who were “too superstitious” and worshipped a plurality of gods and deities, though the people acknowledged that there was still one God above all that was a mystery to them. When questioned by the philosophers …
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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As you know, even if you own your house, you don't. If you don't pay your taxes, an immediate lien placed on your house will make that apparent. So real estate taxes amount to rent paid to the "government." (Crooks) Our houses can be taken from us that way (say you lose your income or access to your money because you won't do whatever the govt threatens) or via a catastrophe (fire, weather), or eminent domain ("sorry, we need this land for (whatever)").
We are in the stormiest seas we have ever seen, and there is no peace or safety outside of the Lifeboat of Faith in the Redemption of Jesus Christ and Rebirth and Regeneration by the Holy Spirit. The very personal restored relationship with our Creator is one of a trusting obedient child to a Perfectly Good Father (He is rightful Ruler of our hearts, minds, wills, emotions). This gives us Hope that endures. Our blessed hope (earnest expectation) is that we will one day be in the Perfect Eternal Kingdom (final salvation--work out your salvation with fear and trembling!) Life on earth is getting tougher, but we are not alone! Rejoice (not happiness in circumstances, but an underlying thankful peace that comes from Knowing Almighty God and Trusting Him to care for you!)
I'd be perfectly happy to never again hear a word from OJ