{"id":1231484,"date":"2025-06-11T00:20:00","date_gmt":"2025-06-11T04:20:00","guid":{"rendered":"https:\/\/www.washingtoninformer.com\/?p=1231484"},"modified":"2025-06-11T21:49:59","modified_gmt":"2025-06-12T01:49:59","slug":"biden-trump-housing-market-implications","status":"publish","type":"post","link":"https:\/\/www.washingtoninformer.com\/biden-trump-housing-market-implications\/","title":{"rendered":"Current Administration’s Tariffs, Experts Agree There’s Never a Perfect Time to Buy Property"},"content":{"rendered":"\n

Six months ago, the country transitioned from a presidential administration that championed affordable housing and housing equality, to one that has deprioritized and defunded such efforts. Nonetheless, housing experts say homebuyers and homeowners should not be deterred by the current environment and simply pay close attention to developing policies, changes and how the market performs.
<\/p>\n\n\n\n

\u201cWe recognize that today\u2019s market\u2013with its volatility, rising interest rates, and economic uncertainty\u2013can make prospective buyers feel uncertain or even discouraged, but we encourage buyers not to let fear or temporary conditions derail their long-term goals,\u201d said Nichelle McDuffie Hagins, president of the Greater Metropolitan Association of REALTIST (GMAR). \u201cTrying to time the market perfectly is nearly impossible\u2013but being informed, prepared, and supported makes all the difference.\u201d<\/p>\n\n\n\n

Derrick Barker, CEO and founder of real estate investment company Nectar also encourages purchasing a home when one is financially prepared to do so, not based on who occupies the Oval Office.<\/p>\n\n\n\n

\u201cTiming the market is never a good idea,\u201d he said. \u201cIf you want to buy, you should buy whenever you have the money to do so. Buying a house now is a fine investment. I don\u2019t see prices going down a lot.\u201d<\/p>\n\n\n\n

Still, Barker is one of many housing experts that say keeping an eye on next steps by the administration and Congress are crucial in strategizing one\u2019s next move in the housing market, whether purchasing a new or second property, or refinancing an existing property. <\/p>\n\n\n\n


<\/strong>\u201cThis is a first-time thing in the U.S.,\u201d he said. \u201cI would expect we\u2019re going to see some unique things in the short term. It\u2019s really going to stop trade. Prices are going to be higher. There will be a lot less activity, with fewer people buying and selling.\u201d<\/p>\n\n\n\n

A Less Equitable HUD<\/strong><\/h2>\n\n\n\n

In January, a stanza in the Biden-Harris administration\u2019s swan song included the Department of Housing and Urban Development awarding $100 million in grants to communities committed to removing barriers to affordable housing production and preservation. <\/p>\n\n\n\n

One month later, the Trump administration by way of HUD Secretary Scott Turner, terminated the Affirmatively Furthering Fair Housing (AFFH) policy, which strays away from HUD\u2019s legal obligation to eliminate housing discrimination, saying it was \u201ccutting costly red tape imposed on localities and returning decision-making power to local and state governments.\u201d<\/p>\n\n\n\n

Democratic leaders are pushing back on HUD\u2019s efforts to eliminate fair housing efforts, such as Rep. Maxine Waters (Calif.), ranking member on the House Financial Services Committee and Sen. Elizabeth Warren (Mass.), ranking member on the Senate Banking, Housing and Urban Affairs Committee.<\/p>\n\n\n\n

\u201cAt a time when America is experiencing a full-blown housing crisis and record levels of housing discrimination complaints, this outright assault on civil rights takes us back to the days when the federal government rubber stamped segregation and discrimination,\u201d the longtime legislators said. \u201cHe is eliminating a key tool that makes housing more affordable and accessible to everyday people, including people of color, older Americans, veterans, people with disabilities, families with children, and so many others.\u201d<\/p>\n\n\n\n

The California congresswoman and Massachusetts senator affirmed their commitment to working toward fair housing and equity for all.<\/p>\n\n\n\n

\u201cThe fight for fair housing is on,\u201d Waters and Warren said, \u201cand Democrats will not back down until we fulfill the promise of equal opportunity in housing for every American.\u201d <\/p>\n\n\n\n

Tariffs Pose Another Challenge to Homeowners, Investors<\/strong><\/h2>\n\n\n\n

Another negative housing market impact from the Trump administration\u2019s new policies is affecting homeowners, developers, property managers and businesses. <\/p>\n\n\n\n

The increase of tariffs is immediately restricting homeowners and businesses from easily and affordably purchasing items for their homes and investment properties, according to Barker, a real estate investor based in Atlanta, Georgia. <\/p>\n\n\n\n

\u201cHome, condo and apartment furnishings like flooring, countertops, appliances, fixtures, doorknobs, cabinet pulls and hinges are made abroad,\u201d he said. \u201cCoincidentally, a good chunk of labor in some markets come from abroad. If you restrict materials and labor, they get more expensive.\u201d<\/p>\n\n\n\n

With labor becoming scarce and buildings becoming more expensive to build due to tariffs, coupled with an already limited housing supply in the U.S., Barker said properties that are currently being built for availability in the next few years will be costly for renters. <\/p>\n\n\n\n

\u201cFurthermore, lenders and investors may be less likely to fund projects because, how will they know the actual cost?\u201d he said. \u201cRight now, we\u2019re kind of coasting from the pre-pandemic boom. Soon, it will be a supply desert.\u201d<\/p>\n\n\n\n

Advocacy for Homeowners Coming from Black-led Organizations<\/strong><\/h2>\n\n\n\n

When it comes to FY26, the Trump administration requested Congress decrease the FY26 budget by $32.3 billion, or 44%, in discretionary funding for HUD. This would cut HUD\u2019s affordable housing, homelessness, and community development programs, in addition to negatively impacting rental and homelessness assistance. <\/p>\n\n\n\n

Senate Appropriations Committee Vice Chair Patty Murray (D-WA) said the president\u2019s request would \u201ceviscerate\u201d HUD funding and \u201crip the roofs off Americans\u2019 heads and put even more families at risk of homelessness.\u201d  <\/p>\n\n\n\n

In April, the African American Mayors Association (AAMA), a group of urban and rural mayors committed to solving housing challenges for residents, submitted a letter<\/a> to Rep. Mike Flood (R-Nebraska), the ranking member and chairman of the House Subcommittee on Housing and Insurance. This group wanted to clearly express support for HUD\u2019s HOME Investment Partnerships Program and Community Development Block Grant Program, which are at risk in the president\u2019s proposed budget cuts. <\/p>\n\n\n\n

Community Development Block Grant Program funds are a safeguard for cities around the country, which help support programs like making vital home repairs for seniors, providing mental health support, offering reentry services and eviction prevention programs.<\/p>\n\n\n\n

\u201cProviding cities flexibility to exceed this cap when services are directly tied to housing retention or community stabilization would unlock greater impact and better outcomes for residents,\u201d said Phyllis Dickerson, AAMA CEO.<\/p>\n\n\n\n

Greater Metropolitan Association of REALTIST was among the first to support the National Association of Real Estate Brokers\u2019 (NAREB) partnership with AAMA and is working to build strong relationships between Black mayors and NAREB local boards across the nation.<\/p>\n\n\n\n

\u201cWe strongly support the African American Mayors Association in their efforts to reauthorize HUD\u2019s HOME Program and the Community Development Block Grant Program,\u201d said Hagins. \u201cThese programs are critical for funding affordable housing development, revitalizing communities, and expanding homeownership opportunities\u2013 particularly in underserved neighborhoods.\u201d <\/p>\n\n\n\n

As the founder and current president of GMAR, Hagins is focused on developing affordable housing programs that bridge generational wealth gaps, create sustainable jobs, and promote self-sufficiency within our communities.<\/p>\n\n\n\n

\u201cFrom GMAR\u2019s perspective, the reauthorization of these programs directly aligns with our mission to increase access to affordable housing and economic empowerment,\u201d Hagins continued about the HUD programming. \u201cThey provide local governments and nonprofit developers the resources necessary to build vibrant, equitable communities where families can thrive.\u201d<\/p>\n\n\n\n

She said while advocates rally for change, budgets get finalized and tariffs are reduced, prospective home buyers still have options and should not give up on their homeownership dream.<\/p>\n\n\n\n

\u201cOur advice to buyers is to focus on what they can control,\u201d Hagins emphasized. \u201cImprove your financial readiness, get pre-approved, work with a trusted and knowledgeable REALTIST, and be prepared to act when the right opportunity presents itself.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Trump administration’s transition from a Biden-Harris administration that advocated for affordable housing and housing equality has led to the elimination of the AFFH policy and proposed budget cuts to HUD, but housing experts advise homebuyers and homeowners not to be deterred and to stay informed and prepared.<\/p>\n","protected":false},"author":4427,"featured_media":1231485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"_primary_brand":0,"_newspack_byline_active":false,"_newspack_byline":"","nota_seo_page_title":"Trump's HUD budget cuts threaten housing equity","nota_seo_page_description":"Housing experts urge homebuyers not to be deterred by current market conditions, instead focus on being informed and prepared.","newspack_featured_image_position":"small","newspack_post_subtitle":"Readying to Enter the Housing Market Requires a Watchful Eye","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33755,30834,30854],"tags":[83465,1154,4539,1584,1048,38659,83464,9297,83466,53785,45950],"brand":[],"newspack_spnsrs_tax":[],"nota":[],"coauthors":[72486],"class_list":["post-1231484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-ownership","category-homeownership","category-supplements","tag-derrick-barker","tag-donald-trump","tag-elizabeth-warren","tag-joe-biden","tag-maxine-waters","tag-mike-flood","tag-nichelle-mcduffie-hagins","tag-patty-murray","tag-phyllis-dickerson","tag-scott-turner","tag-wi-supplements","entry"],"apple_news_notices":[],"yoast_head":"\nTrump's HUD budget cuts threaten housing equity - 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