“I’m asking Fannie Mae and Freddie Mac to get Big Homebuilders going and, by so doing, help restore the American Dream!”
The former president’s comments come as housing inventory has rebounded from historic lows in 2022, but builders continue to face limited incentives to ramp up construction.
According to the latest Census Bureau data, there were 490,000 new houses for sale at the end of August. That’s the lowest level seen this year and 1.4% below July’s estimates. Months’ supply fell to 7.4, down from 9.0 in July and 8.2 a year ago, reflecting the market’s ability to absorb excess stock.
Since taking office, Trump has made housing a central policy focus, including an executive order for emergency price relief and a campaign to pressure the Federal Reserve for lower rates.
His administration has also pushed for the privatization of Fannie Mae and Freddie Mac, which have been under federal conservatorship since the 2008 financial crisis. Federal Housing Finance Agency (FHFA) Director Bill Pulte, acting on Trump’s direction, has led significant changes at the GSEs, including board overhauls and the adoption of VantageScore 4.0.