The Dictatorship

Why Trump doesn’t want home prices to fall

Published

5 months ago

February 9, 2026

Why Trump doesn’t want home prices to fall

WASHINGTON (AP) — President Donald Trump wants to keep home prices highbypassing calls to ramp up construction so people can afford what has been a ticket to the middle class.

Trump has instead argued for protecting existing owners who have watched the values of their homes climb. It’s a position that flies in the face of what many economists, the real estate industry, local officials and apartment dwellers say is needed to fix a big chunk of America’s affordability problem.

“I don’t want to drive housing prices down. I want to drive housing prices up for people that own their homes, and they can be assured that’s what’s going to happen,” Trump told his Cabinet on Jan. 29.

That approach could bolster the Republican president’s standing with older voters, a group that over time has been more likely to vote in midterm elections. Those races in November will determine whether Trump’s party can retain control of the House and Senate.

“You have a lot of people that have become wealthy in the last year because their house value has gone up,” Trump said. “And you know, when you get the housing — when you make it too easy and too cheap to buy houses — those values come down.”

But by catering to older baby boomers on housing, Trump risks alienating the younger voters who expanded his coalition in 2024 and helped him win a second term, and he could wade into a “generational war” in the midterms, said Brent Buchanan, whose polling firm Cygnal advises Republicans.

“The under-40 group is the most important right now — they are the ones who put Trump in the White House,” Buchanan said. “Their desire to show up in an election or not is going to make the difference in this election. If they feel that Donald Trump is taking care of the boomers at their expense, that is going to hurt Republicans.”

The logic in appealing to older voters

In the 2024 presidential election, 81% of Trump’s voters were homeowners, according to AP VoteCast data. This means many of his supporters already have mortgages with low rates or own their homes outright, possibly blunting the importance of housing as an issue.

Older voters tend to show up to vote more than do younger people, said Oscar Pocasangre, a senior data analyst at liberal think tank New America who has studied the age divide in U.S. politics. “However, appealing to older voters may prove to be a misguided policy if what’s needed to win is to expand the voting base,” Pocasangre said.

Before the 2026 elections, voters have consistently rated affordability as a top concern, and that is especially true for younger voters with regard to housing.

Booker Lightman, 30, a software engineer in Highlands Ranch, Colorado, who identifies politically as a libertarian Republican, said the shortage of housing has been a leading problem in his state.

Lightman just closed on a home last month, and while he and his wife, Alice, were able to manage the cost, he said that the lack of construction is pushing people out of Colorado. “There’s just not enough housing supply,” he said.

Shay Hata, a real estate agent in the Chicago and Denver areas, said she handles about 100 to 150 transactions a year. But she sees the potential for a lot more. “We have a lack of inventory to the point where most properties, particularly in the suburbs, are getting between five and 20 offers,” she said, describing what she sees in the Chicago area.

New construction could help more people afford homes because in some cases, buyers qualify for discounted mortgage rates from the builders’ preferred lenders, Hata said. She called the current situation “very discouraging for buyers because they’re getting priced out of the market.”

But pending construction has fallen under Trump. Permits to build single-family homes have plunged 9.4% over the past 12 months in October, the most recent month available, to an annual rate of 876,000, according to the U.S. Census Bureau.

Trump’s other ideas to help people buy houses

Trump has not always been against increasing housing supply.

During the 2024 campaignTrump’s team said he would create tax breaks for homebuyers, trim regulations on construction, open up federal land for housing developments and make monthly payments more manageable by cutting mortgage rates. Advisers also claimed that housing stock would open up because of Trump’s push for mass deportations of people who were in the United States illegally.

As recently as October, Trump urged builders to ramp up construction. “They’re sitting on 2 Million empty lots, A RECORD. I’m asking Fannie Mae and Freddie Mac to get Big Homebuilders going and, by so doing, help restore the American Dream!” Trump posted on social media, referring to the government-backed lenders.

But more recently, he has been unequivocal on not wanting to pursue policies that would boost supply and lower prices.

In office, Trump has so far focused his housing policy on lobbying the Federal Reserve to cut its benchmark interest rates. He believes that would make mortgages more affordable, although critics say it could spur higher inflation. Trump announced that the two mortgage companies, which are under government conservatorship, would buy at least $200 billion in home loan securities in a bid to reduce rates.

Trump also wants Congress to ban large financial institutions from buying homes. But he has rejected suggestions for expanding rules to let buyers use 401(k) retirement accounts for down payments, telling reporters that he did not want people to take their money out of the stock market because it was doing so well.

There are signs that lawmakers in both parties see the benefits of taking steps to add houses before this year’s elections. There are efforts in the Senate and House to jump-start construction through the use of incentives to change zoning restrictions, among other policies.

One of the underlying challenges on affordability is that home prices have been generally rising faster than incomes for several years.

This makes it harder to save for down payments or upgrade to a nicer home. It also means that the places where people live increasingly double as their key financial asset, one that leaves many families looking moneyed on paper even if they are struggling with monthly bills.

There is another risk for Trump. If the economy grows this year, as he has promised, that could push up demand for houses — as well as their prices — making the affordability problem more pronounced, said Edward Pinto, a senior fellow at the American Enterprise Institute, a center-right think tank.

Pinto said construction of single-family homes would have to rise by 50% to 100% during the next three years for average home price gains to be flat — a sign, he said, that Trump’s fears about falling home prices were probably unwarranted.

“It’s very hard to crater home prices,” Pinto said.

The Dictatorship

California voters to decide billionaire tax measure in November

Published

8 hours ago

June 26, 2026

Blue Light Newsroom

California voters to decide billionaire tax measure in November

Jun. 25, 2026, 10:25 PM EDT

California voters will consider a controversial proposal in November to temporarily raise taxes on billionaires after the labor union backing the measure announced Thursday it would forge ahead despite pressure from critics to withdraw it.

The proposal, backed by the Service Employees International Union Healthcare Workers West, would impose a one-time 5% tax on individuals whose net worth exceeds $1 billion and who were living in the state as of Jan. 1, 2026. The goal is to generate $100 billion in revenue, mainly to fund the state’s Medicaid system after federal cuts.

“I am all in on this,” union President Dave Regan said on a Zoom call, adding that opponents of the proposal are “totally out of touch.”

Democratic Gov. Gavin Newsom and many traditional allies of the union oppose the measure. They argue it is a temporary fix for an ongoing problem and that it would push the ultrawealthy to leave the state, taking the money they would contribute in income taxes with them. Newsom, who is considering a presidential run as he prepares to leave office in January, has generally opposed tax increases during his time as governor.

A coalition of healthcare, education and housing groups — including the California Medical Association and California School Boards Association — banded together last week to fight the tax.

“The dangerous wealth tax directly threatens vital funding for education and schools, healthcare and clinics, public safety, and infrastructure projects by making California’s revenue even more volatile,” the coalition said in a statement.

Brian Brokaw, a Newsom political adviser who is leading a political committee opposing the tax, said it would “make California’s biggest challenges worse.”

“Driving away the state’s sustainable tax base for a one-time grab is bad policy and an even worse deal for 40 million Californians who will be left holding the bag,” he said in a statement.

Under the proposal, the state would spend the money generated from the tax over multiple years. The nonpartisan Legislative Analyst’s Office estimates that the proposal would generate tens of billions of dollars in the first few years, but that income tax revenues would subsequently decline by hundreds of millions of dollars annually.

Many of the Silicon Valley tech moguls who oppose the measure have already moved their assets to other states or threatened to do so to avoid the possible tax. They have also spent millions to try to defeat it.

Since the proposal was announced in October, Google co-founder Sergey Brin has donated $82 million to a political committee called Building a Better California that backs a variety of initiatives designed to blunt the billionaire tax proposal. It has raised more than $118 million, counting Brin’s contributions, from fewer than a dozen donors.

California relies on its top 1% of earnersfor nearly half of its personal income tax revenue.

The union offered to scale back its proposal last week, asking Newsom to back a 2% tax on billionaires instead. But the governor’s office said the lower rate didn’t change his stance.

The proposed tax may have piqued the interest of many Democrats because it comes at a time when they are particularly concerned about affordability, income inequality and federal cutbacks to government programs, said Martin Gilens, a political science professor at the University of California, Los Angeles.

“There’s kind of a perfect storm that sort of bolsters preexisting inclinations to be sympathetic to the idea of raising taxes on the well-to-do,” he said.

But there’s a catch. Support for ballot initiatives often declines as the election nears, and if the measure passes, it’s likely to face legal challenges, Gilens said.

The Dictatorship

Flattery, secrecy and chaos: Bill Pulte’s first week as intel chief

Published

8 hours ago

June 26, 2026

Blue Light Newsroom

Flattery, secrecy and chaos: Bill Pulte’s first week as intel chief

Jun. 25, 2026, 7:15 PM EDT

Since taking office one week ago, Bill Pulte, the acting director of national intelligence, has busied himself on social media posting flattering photos of President Donald Trump, trivia about a former counterintelligence agent and praising his current staff.

What the Trump loyalist with no intelligence experience has not done is address the public about his plans, or calm the unease and confusion inside the Office of the Director of National Intelligence, which is being described by top officials as “chaotic” amid firings of senior personnel with threats of more to come.

One image posted to the official X account of the Office of the Director of National Intelligence, apparently artificial intelligence-generated, features Trump raising a clenched fist in the air with two B-2 stealth bombers in the sky behind him. Another is an image of the president, his fist clenched, glowering as he stands behind the Oval Office’s Resolute Desk.

In another post, Pulte, who was expected to gut the workforce of the National Counterterrorism Center, instead declared the staff there “true professionals and American patriots” after he said he spent time with them, adding “it is a privilege to work beside them.”

And in an apparent attempt at levity, Pulte reposted a message reminding Americans that Tuesday was “National Typewriter Day” and informing them of the role that a former Army counterintelligence agent played.

“Fun CI fact,” the post reads. “Former Army CI Special Agent Leroy Anderson composed ‘The Typewriter’ on October 9, 1950.”

But Pulte’s arrival has sparked anxiety and fear among the office’s workforce, three former U.S. intelligence officials told MS NOW, granted anonymity to address a sensitive topic.

They said that a half dozen political appointees were removed from their posts and several dozen staffers were sent back to their home intelligence agencies. Beyond that, little else is known about Pulte’s plans.

Rep. Jim Himes, D-Conn., the top Democrat on the House Intelligence Committee, told MS NOW that his requests for more information from the office, known by the acronym ODNI, have been rebuffed.

“I’ve been calling over there all day and can’t get my calls returned,” said Himes.

He later said, “I spoke directly to their office of congressional affairs. They said they had nothing for me.”

“It seems like it’s totally chaotic at the Office of the Director of National Intelligence,” Sen. Mark Warner, D-Va., the ranking Democrat on the Senate Intelligence Committee, said on a podcast Wednesday. “There was word that there was going to be firings and then he said he changed his mind. We don’t know.”

Marc Polymeropoulos, a former senior CIA official and now an MS NOW contributor, said that staff in the intelligence community do not know what to think.

“Everyone is in the same boat and unsure of what is going on,” he said. “That said, there is no love lost for the DNI, as many believe that there is redundancy that does need to be cut.”

The other former U.S. intelligence officials said they agree that the Office of the Director of National Intelligence is in need of reform. The agency was created after a lack of information sharing among U.S. intelligence agencies played a role in the failure to stop the Sept. 11, 2001, attacks. ODNI’s mission is to ensure that the country’s now 18 different intelligence agencies share information with one another.

But the former intelligence officials said Pulte is patently unqualified to design or carry out those reforms.

“As with many things Trump alights upon, there is a sliver of truth here but he goes about addressing it in the worst possible way,” a former senior U.S. intelligence official told MS NOW, granted anonymity over concerns of retaliation. “But mass firings without any kind of sense of what you are trying to accomplish is addressing it in the most ham-handed way.”

That former official, as well as Warner and Himes, have said they fear that Pulte’s mission is to use his position as the nation’s top intelligence official to help Trump interfere in the midterm elections in November.

Pulte, who simultaneously serves as the Trump administration’s top federal housing official as head of the Federal Housing Finance Agency, used government mortgage information to file several criminal referrals against Democrats whom Trump considered enemies, including Sen. Adam Schiff of California and New York State Attorney General Letitia James. None of Pulte’s referrals have resulted in criminal convictions.

One fear expressed by Warner and some former intelligence officials is that Pulte may try to falsely claim that his office has found evidence that foreign governments are secretly funding Democratic candidates.

One way he could do that, they say, is by falsely claiming foreign actors have hacked U.S. voting machines and altered vote totals in favor of Democrats. And Pulte and FBI agents could seize voting machines, ballots and election records in November — as Gabbard did in Fulton County, Georgia, last year at Trump’s behest — as part of voter fraud investigations that please the president.

“I have to tell you, I was extraordinarily concerned about the former director of national intelligence, Tulsi Gabbard, interfering in our election,” Warner told NPR earlier this month. “The concerns I had with Tulsi Gabbard now, upon reflection, look small versus the concerns I have with Bill Pulte.”

David Rohde is the senior national security reporter for MS NOW and a two-time winner of the Pulitzer Prize for International Reporting. Previously he was the senior executive editor for national security and law for NBC News.

The Dictatorship

Barack Obama says Trump gives him a ‘room in his head’

Published

8 hours ago

June 26, 2026

Blue Light Newsroom

Barack Obama says Trump gives him a ‘room in his head’

Jun. 25, 2026, 5:37 PM EDT

Former President Barack Obama slammed President Donald Trump for obsessing over him while serving in the nation’s highest office.

“I obviously, you know, have a room in his head. A suite in his head,” Obama said an an episode of the podcast “All The Smoke,” posted Wednesday.

“Look, first of all, when I was president, the last thing I had time to do was worry about what somebody said, or what my predecessor did,” Obama told the two hosts, former NBA players Matt Barnes and Stephen Jackson. “They’re gone. I’ve got work to do.”

Trump has a long history of publicly insulting the former president, often invoking Obama’s middle name, Hussein.

Trump has also heavily promoted the false and racist “birther” conspiracy theory, which claimed that Obama was ineligible to serve as president because he was born in Kenya rather than the United States.

Earlier this year, Trump drew criticism after sharing a racist artificial intelligence-generated video on his Truth Social account depicting the former president and former first lady Michelle Obama as apes. The video was later deleted, and Trump did not apologize.

Before launching the war against Iran with Israel on Feb. 28, Trump repeatedly criticized the Joint Comprehensive Plan of Action, the 2015 diplomatic agreement primarily negotiated by Obama that also limited Iran’s nuclear capabilities in exchange for sweeping economic sanctions relief.

More recently, Trump trashed the newly debuted Obama Presidential Center in Chicago as a “very unattractive building” and “total disaster,” adding that when his presidential library opens, it will be “on time, on budget, best location in Miami.”

Without mentioning Trump by name, Obama criticized leaders who fixate on their predecessors, characterizing their priorities as misplaced.

“If you’re doing the job right, everyday, you’ve got five, ten things that are real hard. And you have to be constantly focused,” Obama said.

“The idea that I’d be worrying about somebody who came before and me trying to measure, ‘What’s he done today?’ Constantly worrying about that is a strange thing to me. It shows me somebody who’s not focused on the American people and the job they’re supposed to do.”

Erum Salam is a breaking news reporter for MS NOW, with a focus on how global events and foreign policy shape U.S. politics. She previously was a breaking news reporter for The Guardian.