• 11.09.16

Redfin wants President Trump to “disrupt” America’s housing policy

As rents soar higher and housing stocks become increasingly scarce, Americas may be wondering about where they’ll be living in the years to come. In a letter the newly elected Trump administration, Redfin’s chief economist, Nela Richardson, outlines a plan for the future administration to consider.  

Richardson (like Fannie Mae CEO Tim Mayopoulos) is calling for a national housing policy—one that specifically plots out how we house people in this country. Here are her four provisions:

1) Tackle housing as a broader economic issue, not one siloed to the poorest Americas. 

2) Reward cities and towns that introduce innovative land-use policies that allow for more economically integrated neighborhoods.

3) “End the mortgage interest rate deduction”—this is a tax deduction that primarily benefits the high earning Americans. 

4)  Re-employ (responsibly!) Fannie Mae and Freddie Mac, institutions that have previously been key to awarding mortgages to middle income earners. 

Trump has not made housing a cornerstone of his platform, nor a priority within his first 100 days agenda, so it’s possible this plea will fall on deaf ears. RR