President Donald Trump suggested during a cabinet meeting at the White House on Thursday that he wants to “drive housing prices up” in an effort to keep current U.S. homeowners “wealthy.”
Trump said that “existing housing people that own their homes, we’re going to keep them wealthy, adding “we’re going to keep those prices up,” NBC News reported. He also claimed that “we’re not going to destroy the value of their homes so that somebody that didn’t work very hard can buy a home.”
“We’re going to get — we’re going to make it easier to buy,” Trump said, the outlet reported.
“There’s so much talk about, ‘Oh, we’re going to drive housing prices down.’ I don’t want to drive housing prices down,” the president continued. “I want to drive housing prices up for people that own their homes, and they can be assured, that’s what’s going to happen.”
The White House did not immediately respond to the Daily Caller News Foundation’s request for comment.
The president also suggested during the cabinet meeting that whoever he chooses to replace Jerome Powell as chair of the Federal Reserve will help to bring interest rates in the U.S. down, according to NBC News. Powell’s term as Fed chairman is set to end in May 2026.
“Those interest rates are coming down,” the president said during the cabinet meeting, NBC News reported. “And with a proper, intelligent person at the Fed, that person will be able to work with us to get interest rates, and that covers all of the sins. It covers everything. Lower interest rates keeps the values up for the people that have housing and lets other people buy housing.”
The president’s comments came after the central bank announced Wednesday that it was holding interest rates steady at a range of 3.5-3.75%, following three consecutive rate cuts in 2025.
Trump also said Thursday he will unveil his choice for the next Fed chair sometime next week, Politico reported.
Democratic New York Gov. Kathy Hochul’s Press Office wrote in a Thursday X post that “not only does the president not care about lowering home prices, HE ACTIVELY WANTS TO KEEP THEM HIGH!!”
Trump announced on Jan. 7 that his administration is moving to prevent big investment companies from purchasing single-family homes in America in an attempt to lower house prices, saying that the American Dream has grown “increasingly out of reach for far too many people, especially younger Americans.” Several economists previously told the DCNF that in fact, an inadequate supply of homes in the U.S. may be the main factor driving the country’s ongoing housing affordability woes.
The median existing home price in the U.S. was $415,200 in October 2025, marking an increase from a median price of $271,100 five years ago, Yahoo Finance reported in December 2025.
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