Donald Trump drew backlash on Thursday after vowing to keep housing prices high, even as he promotes policies he claims would improve affordability.
Trump sought during a Cabinet meeting to reassure existing homeowners who may worry that efforts to make housing more affordable could reduce the value of their properties.
“Existing housing, people that own their homes, we’re gonna keep them wealthy,” Trump said. “We’re gonna keep those prices up. We’re not gonna destroy the value of their homes so that somebody that didn’t work very hard can buy a home.”
While Trump promised his administration would work to lower interest rates and make buying easier, he said he did not want home prices to fall.
“I don’t want to drive housing prices down,” he said. “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.”