President Donald Trump touts ‘full access to Greenland’
President Donald Trump touted “full access to Greenland” through a framework agreement with NATO.
WASHINGTON – President Donald Trump says he opposes a plan backed by one of his top economic advisers that would allow Americans to use retirement savings from 401(k) accounts to make down payments on homes.
“I’m not a huge fan. Other people are,” Trump told reporters on Thursday, Jan. 22, on an Air Force flight returning to Washington from Davos, Switzerland, where he attended the World Economic Forum. “And one of the reasons I don’t like it is that their 401(k) is doing very well.”
Trump’s comments marked an abrupt shift in White House policy after White House National Economic Council Director Kevitt Hassett said last week that the Trump administration was finalizing plans for some 401(K) funds to be used for down payments on homes as part of a series of new White House initiatives on housing.
“We’re going to allow people to take money out of their 401(k) and use it for a down payment,” Hassett said in a Jan. 16 interview with Fox Business, adding that Trump plans to announce the plan at Davos. “We are still discussing how it will work,” he added.
However, President Trump never mentioned this plan in his speech at the World Economic Forum. Instead, he highlighted a Jan. 20 executive order banning institutional investors from purchasing single-family homes in an effort to reduce housing costs for Americans.
As Americans continue to express concerns about the cost of living, President Trump has rolled out several policy proposals and actions aimed at addressing affordability concerns. But he appears to have ruled out a 401(k) proposal for home down payments.
“The housing market is strong, but the 401(k) is doing much better than the housing market. I like to keep my 401(k) in good shape,” he said. “Some people are saying it’s an 88% increase. And if you look at it over a year, a full year, it’s closer to 100%.”
According to the Federal Housing Finance Agency’s latest monthly report released in December, home prices in 2025 rose 1.7% from October 2024 to October 2025. The national median home price rose to $433,000 in November 2025, according to real estate firm Redfin.
The United States is facing a severe housing shortage and a stagnant housing market. The number of pending home sales in December decreased by nearly 6% from a year earlier.
Contributed by: Reuters
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