Feb 3 (Reuters) – Homebuilders are working on a proposal to develop nearly a million “Trump Homes” that \u200bwould address the U.S. affordability crisis, Bloomberg News \u200creported on Tuesday.<\/p>\n
This calls for builders to sell entry-level homes into \u200ca pathway-to-ownership program allowing private capital funding of billions of dollars, Bloomberg News reported, citing sources familiar with the proposal.<\/p>\n
Shares of U.S. homebuilders, including Lennar, D.R. Horton, \u2060Pultegroup, Toll Brothers, Taylor \u200cMorrison Home and KB Home, were up between 5-7% during early trading hours.<\/p>\n
Lennar declined to \u200dcomment, while the other homebuilders and the White House did not immediately respond to Reuters’ requests for comment.<\/p>\n
The proposal comes \u200bat a time when U.S. consumers continue to \u200cface affordability challenges in an inflationary macro environment, dampening home sales across the country.<\/p>\n
At the 1 million homes estimate, the program would likely deliver more than $250 billion worth of housing.<\/p>\n
However, a White House official told Bloomberg \u2060News that the administration is \u200bnot actively considering the plan.<\/p>\n
Such a \u200bprogram would be complicated to implement and it’s possible that it won’t gain enough support \u200dto move forward, \u2060Bloomberg News reported.<\/p>\n
Last month, U.S. President Donald Trump signed an executive order to restrict large institutional \u2060investors from competing with individual homebuyers in an effort to make \u200chousing more affordable.<\/p>\n
(Reporting by Aatreyee Dasgupta in \u200cBengaluru; Editing by Anil D’Silva)<\/p>\n","protected":false},"excerpt":{"rendered":"Feb 3 (Reuters) – Homebuilders are working on a proposal to develop nearly a million “Trump Homes” that…\n","protected":false},"author":2,"featured_media":447206,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[93996,13661,28,63324,170934,210107,3123],"class_list":{"0":"post-447205","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-affordability-crisis","9":"tag-bloomberg-news","10":"tag-business","11":"tag-homebuilders","12":"tag-toll-brothers","13":"tag-trump-homes","14":"tag-white-house"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/447205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=447205"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/447205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/447206"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=447205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=447205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=447205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}