President meets with Cabinet to discuss key issues
President Donald Trump met with his entire Cabinet to discuss updates on issues including a potential government shutdown and Venezuela negotiations.
WASHINGTON – As affordability concerns grow across the country, President Donald Trump says he aims to make home prices go up, not go down.
President Trump said at a Cabinet meeting on January 29 that he wants to make it easier for Americans to buy a home, not make it cheaper. Instead, he suggested that if the next Federal Reserve chairman were to lower interest rates, more Americans would be able to buy homes even as home prices rise.
President Trump said, “I don’t want to drive down home prices. I want to raise home prices for people who own homes.” “And they can be confident that that’s what’s going to happen.”
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 and housing issues. This includes a Jan. 20 executive order banning institutional investors from purchasing single-family homes for the purpose of expanding homeownership. The Trump administration is also purchasing mortgage-backed securities to lower mortgage rates.
But President Trump made clear in a meeting with his Cabinet that even though Americans have expressed concerns about the affordability of their homes, more opportunities to buy a home should not mean lower costs.
“Existing housing, people who own their homes, we’re going to keep them wealthy,” Trump said. “We’re going to keep raising prices. We’re not going to destroy the value of people’s homes so that people who haven’t worked very hard can buy them.”
“We’re going to make it easier to buy,” the president added. “We’re going to lower interest rates. But I want to protect people who, for the first time in their lives, feel good about themselves. They feel like, you know, wealthy people.”
According to the latest monthly report released by the Federal Housing Finance Agency on January 27, home prices rose 0.6% in November compared to the previous month. According to real estate company Redfin, the national median home price rose to a record high of $433,000 in November 2025. Zillow predicts home prices will rise 1.9% in 2026.
Home prices remain high relative to income growth, even after adjusting for inflation, putting homeownership out of reach for many Americans. The housing market is considered stagnant amid a nationwide housing shortage, especially in the lower-end markets.
President Trump said last week that he opposes a plan supported by the White House economic team that would allow Americans to use their retirement savings from 401(k) accounts to make a down payment on a home.
President Trump has told Cabinet members that he intends to announce his nominee for the next chairman of the Federal Reserve next week. Over the past year, President Trump has criticized Federal Reserve Chairman Jerome Powell for refusing to aggressively lower interest rates as requested by Trump. Fed Chairman Jerome Powell’s term ends in May.
X Contact Joey Garrison at @joeygarrison.
