President Donald Trump said this week that he wants to “drive housing prices up for people who own their homes,” sparking strong criticism from economists and Democratic lawmakers who say the comment ignores the affordability crisis facing millions of Americans.
“Existing housing, people that own their homes. We’re going to keep them wealthy. We’re going to keep those prices up,” Trump said during a Cabinet meeting on Thursday.
“We’re not going to destroy the value of their homes so that somebody that didn’t work very hard can buy a home.”
He also promised to push interest rates lower to make buying easier, but made clear his focus is on current homeowners.
“I want to protect the people that for the first time in their lives feel good about themselves. They feel like they’re wealthy people, and I want them to understand it,” Trump said.
Economist and gold advocate Peter Schiff responded on X, calling the remarks out.
“This is asinine. Trump wants to make the housing bubble bigger so homeowners can keep pretending they’re rich by owning houses they can’t sell because they’re too expensive for anyone else to buy,” Schiff wrote.
Democrats Respond: Prices Already Too High
Several Democratic lawmakers echoed that frustration, accusing Trump of putting homeowners ahead of struggling buyers.
“Are you trying to buy your first home? Trump wants your prices to go up,” said Sen. Tammy Duckworth (D-IL). “But sure Donald, keep saying affordability is a hoax.”
Rep. Suzan DelBene (D-WA) added, “Millions of families are struggling to afford a roof over their heads & Trump’s response is to increase the price of housing. He doesn’t care about making your life more affordable.”
Rep. Jason Crow (D-CO) pointed out the broader cost pressures Americans face.
“Millions of hardworking folks can’t afford to buy—and the President’s tariffs are making it even more expensive,” he said.
According to The Hill, Democratic lawmakers across both chambers of Congress criticized the remarks and argued they show a disregard for younger and working-class Americans who are already priced out of the market.
Rep. Darren Soto (D-FL) said the president’s plan “will float like a lead balloon in fast-growing Central Florida.”
Home Prices Have Surged Since 2020
Home prices have surged in recent years.
Redfin reports the median sale price of a home in December was $429,000, up more than 28% from December 2020.
That increase has locked out many would-be buyers, especially younger and lower-income households.
Wall Street Buying Ban Doesn’t Cancel Price Push
Trump has taken steps aimed at limiting institutional investment in housing.
This week, he signed an executive order aimed at stopping Wall Street firms from buying up single-family homes.
“Hardworking young families cannot effectively compete for starter homes with Wall Street firms and their vast resources,” the order states.
But critics say that move is undermined by Trump’s broader push to prop up home values.
“Trump’s affordable housing plan is basically: Screw you,” wrote Soto, sharing a video of Trump’s comments.
Election-Year Housing Debate Heats Up
The politics of housing are expected to play a big role in the 2026 midterms.
Rising prices and high interest rates continue to reshape what Americans can afford and what kind of future they can build.
As Schiff put it, boosting prices may help some homeowners feel wealthier on paper, but it makes the market more fragile and pushes others out.
For many still trying to buy a home, Trump’s approach felt like a slap in the face.