WH’s Hassett: Every Member Of Cabinet Is Preparing Plans To Lower Cost Of Buying Homes
White House economic council director Kevin Hassett told “FOX News Sunday” that early next year, the Trump administration will present a set of plans to lower housing costs. “We have got, like, everybody in the whole Cabinet working on trying to get housing to be more affordable,” he said. “We will have a plan – a big plan – to announce sometime soon in the new year that will be very good news for the American people who feel like it’s not affordable to buy a home anymore.” “we have a big list of housing ideas that have been vetted carefully by the Cabinet secretaries to present to the president in a week or two. And we will see which ones he picks.”
KEVIN HASSETT, WHITE HOUSE ECONOMIC ADVISER: And then the other thing is, we have lots of great new ideas that we will put before the American people this year to make their lives better. The president mentioned in his economic speech from over here at the White House that we have got, like, everybody in the whole Cabinet working on trying to get housing to be more affordable. We will have a plan – a big plan – to announce sometime soon in the new year that will be very good news for the American people who feel like it’s not affordable to buy a home anymore. Don’t forget, under Joe Biden, the average mortgage payment for the typical middle-class family buying a first-time home went up by $ 14,000 per year. Fourteen thousand dollars per year, because of inflation and higher interest rates. And we have a plan that will make that go almost completely reversed. Already, we’ve reduced that monthly mortgage payment by $ 3,000. SHANNON BREAM, FOX NEWS: But let’s ask about that, because one of the ideas batted around in Washington is this idea of a portable mortgage. If you have a 3% mortgage, you don’t want to sell that housing and go out to the market, freeing up that housing for more entry-level buyers. Could that be part of the conversation – the portable mortgage? KEVIN HASSETT, WHITE HOUSE ECONOMIC ADVISER: We have a list of things to present to the president. I expect – breaking a little news for you – I expect most of us will be down for a chunk of the week after Christmas at Mar-a-Lago going through all the plans for next year. And definitely, we have a big list of housing ideas that have been vetted carefully by the Cabinet secretaries to present to the president in a week or two. And we will see which ones he picks.
