As Americans continue to struggle with finding affordable housing, experts are looking to President-elect Donald Trump to ease housing costs in the coming year. Housing expenses accounted for the largest share of consumer expenditures in 2023, representing 32.9% of spending, which was a 4.7% increase from the previous year. However, uncertainties remain regarding Trump’s plans for housing policy in his second term, especially related to tariffs and immigration policies.
Trump’s proposed tariffs on goods from China and other countries could result in higher construction material costs, potentially making affordable housing even more out of reach. Additionally, Trump’s plans for mass deportations could impact construction labor, as many foreign-born workers are essential to the industry.
There are also concerns about Trump’s stance on zoning regulations and his more punitive approach to homelessness. While Trump has criticized zoning regulations that drive up housing costs, he has also shown a “not in my backyard” attitude towards affordable housing. With homelessness reaching record levels, experts worry that Trump’s approach may prioritize enforcement over providing stable housing. Overall, policymakers are closely monitoring Trump’s housing policies to see how they will impact struggling Americans in the coming year.
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