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Trump is doing his best on housing— but state, local policies keep costs high

There isn’t much the federal government can do to fix the housing crisis — but President Donald Trump has found the one idea that might work, which is to prioritize residents over big investors.

President Trump latched onto the fact that Wall Street firms have bought copious quantities of homes and are renting them out.

Instead, we should be encouraging single-family residences to be owned by people (families). It creates stable neighborhoods and stronger communities.

Most people cannot compete with big financial investors, who can swoop in with all-cash offers.

We want people to think of a house or condominum as a home first and an investment as byproduct of that. 

My fear was that Trump’s proposals would cut investors out of real estate altogether.

After review, it appears that what the feds have told investors is that you can invest in single-family homes, but we are not going to aid you at all.

Wall Street can buy homes, but will not have government help from HUD, the VA, or other federal agencies.

Trump’s policy would also give ordinary homebuyers a 30-day exclusive period to buy foreclosed properties before the big investors can.

In other words: Trump’s policy might work.

On the other hand, the Senate’s 21st Century ROAD to Housing Act (which passed by a vote of 89-10) is cause for extreme concern

Though Sen. Tim Scott (R-SC) was one of the main sponsors, so, too, was Sen. Elizabeth Warren (D-MA). Warren has rarely pursued any effort to shrink government’s stranglehold on our lives. She is the mother of the Consumer Financial Protection Bureau (CFPB), which did everything but protect us.

The 300-page bill is a combination........

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