Despite promising to make “housing much more affordable,” Trump has spiked costs and said that “no one gives a [bleep] about housing”

Housing is unaffordable for everyday Americans in Donald Trump’s economy — and it’s getting worse. Trump’s unhinged trade war and war with Iran have driven costs even higher, worsening the housing crisis and skyrocketing mortgage rates. The day before the war with Iran started, the average rate on the 30-year fixed mortgage was at 5.99%  and now hovers around 6.5%.

In a new survey, a majority of respondents, particularly young people, said that owning a home felt out of reach. A staggering 68% of Americans agreed that “homeownership feels less like a goal and more like a privilege,” and over half said that “the American Dream of owning a home is dead,” and those numbers rose significantly among younger people. Even among respondents who own a home, the majority reported higher costs on everything from utilities to property insurance. 

In response, DNC Rapid Response Director Kendall Witmer released the following statement: 

“Donald Trump has destroyed the dream of owning a home for everyday Americans. Trump’s reckless trade war has driven up costs, making it harder to build housing amid a severe supply shortage, and now, his deadly and costly war with Iran is pushing housing to a breaking point, sending home prices and mortgage rates soaring. It’s no wonder Americans feel like they can’t get ahead — Trump is doing everything he can to get in the way of achieving the American dream.”  

Amid a severe supply shortage, Trump’s tariffs contributed to the loss of nearly 60,000 home construction jobs since December 2024. Meanwhile, housing prices are not coming down, meaning people are not buying homes, and homes are sitting on the market for longer. 

Despite promising on the campaign trail to make “housing much more affordable,” Trump has done nothing to bring down the cost of housing and reportedly told House Speaker Mike Johnson that “no one gives a [bleep] about housing.”