Trump's week in review: Pentagon wants $200B for Iran war; fraud task force launched
2. Trump signs executive orders seeking to increase home ownership
In a video message on Tuesday, Trump announced two new executive orders aimed at making homes more affordable.
“The first executive order is about bringing more community banks back into the mortgage business,” he explained. “Two decades ago, over 5,000 community banks were offering mortgages.”
“Today, that number has been slashed by more than 50%, largely because of burdensome, unnecessary regulations that radical liberals imposed on community lenders for the benefit of their donors on Wall Street and, frankly, for the benefit of themselves,” he added. “The result was less competition and higher mortgage rates for hardworking Americans.”
Trump predicted that “when more local banks start offering mortgages again, fees will go down, costs will fall, and homebuyers will be able to get a mortgage under the more affordable terms that we’re insisting on.”
The president said the second executive order will “help lower construction costs for building new homes so that homebuyers can have more affordable options.” He lamented how policies implemented by the Biden administration and at the state level “raised construction costs very, very substantially,” noting that his order will “slash many of these pointless regulations.”
Ryan Foley is a reporter for The Christian Post. He can be reached at: ryan.foley@christianpost.com
