President Donald Trump has unveiled a new plan to ‘restore the American dream’ with a vow to work with big builders to begin construction on new homes.
Trump urged mortgage financing companies Fannie Mae and Freddie Mac to ‘get Big Homebuilders going’ in a a Truth Social post on Sunday.
He noted the Organization of the Petroleum Exporting Countries (OPEN) had ‘kept Oil prices high’ prior to him becoming president and said while ‘it wasn’t right’, the same thing is now happening in the housing market.
‘It wasn’t right for them to do that but, in a different form, is being done again — This time by the Big Homebuilders of our Nation,’ he wrote.
Trump acknowledged that the people he was calling out ‘are my friends, and they’re very important to the SUCCESS of our Country.’
He vowed to ensure they could get the funding they needed to reignite the industry.
President Donald Trump has unveiled a new plan to ‘restore the American dream’ with a vow to work with big builders to begin construction on new homes
In a Sunday Truth Social post, Trump urged mortgage financing companies Fannie Mae and Freddie Mac to ‘get Big Homebuilders going’
‘Now, they can get Financing and they have to start building Homes,’ he warned. ‘They’re sitting on 2 Million empty lots, A RECORD.
‘I’m asking Fannie Mae and Freddie Mac to get Big Homebuilders going and, by so doing, help restore the American Dream!’
Trump reportedly met in August with top US bank executives to discuss his administration’s plans to privatize the finance firms, which guarantee over half the nation’s mortgages and have been under federal conservatorship since the 2008 financial crisis.
Since then, the companies have rebuilt capital reserves, repaid their Treasury loans and returned to consistent profitability.
Shares of both firms, currently traded on over-the-counter markets, have surged amid speculation over privatization plans.
The pair guarantee over half of the nation’s mortgages.
President Donald Trump has unveiled a new plan to ‘restore the American dream’ with a vow to work with big builders to begin construction on new homes
Trump acknowledged that the people he was calling out ‘are my friends, and they’re very important to the SUCCESS of our Country’
Taking the firms public would end a far-reaching government backstop that was intended to be a temporary reprieve, but could also make mortgages pricier and harder to obtain if the entities guaranteeing fully return to the private sector.
Analysts noted that while Trump has been willing to risk economic turmoil in his wide-ranging tariff agenda, there may be more sensitivity to drama in mortgage rates, which are highly visible and familiar to many consumers.
‘Tariffs may have impacted the stock market, but they did not result in immediate price hikes at Walmart or Dollar General,’ TD Cowen analyst Jaret Seiberg wrote in May.
‘By contrast, the price of mortgages will respond to each recap and release development. That makes the political cost more immediate. It is why we expect a slower and more deliberative process.’
Citi CEO Jane Fraser met with Trump at the White House, a source told Reuters. Trump also met BofA CEO Brian Moynihan and his team, a second source said.
