mortgage

Housing winners and losers under President Trump

Unknown: Would-be homeowners
Unknown: Would-be homeowners | Monkey Business Images/Shutterstock.com

Unknown: Would-be homeowners

Hillary Clinton had called for an expansion of housing vouchers for low-income families, and for grants to help low-income homebuyers make their down payments. That's not gonna happen under a President Trump and a Republican Congress.

The administration will have to face the issue of home affordability, Sharga says. He points out that millennials are forming households and renting a lot of dwellings. That results in a low rental vacancy rate, driving rents higher. So it's hard to save up for a down payment on a house.

The Republican Party's platform identifies home affordability as an issue. It says: "The national homeownership rate has sharply fallen and the rate for minority households and young adults has plummeted. So many remain unemployed or underemployed, and for the lucky ones with jobs, rising rents make it harder to save for a mortgage."

The party's solution is for a review of federal regulations, "especially those dealing with the environment, that make it harder and more costly for Americans to rent, buy, or sell homes."

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