Trump Vows To ‘Rapidly Defeat Inflation' To Help ‘Millions and Millions' of Americans Achieve Their ‘Dream of Homeownership'
President Donald Trump has boldly promised to 'rapidly bring down inflation' to make homeownership more accessible to millions of Americans while addressing the National Association of Realtors® Legislative Meetings 2025 in a pre-recorded speech.
Speaking to industry leaders, the pre-recorded video aired at the Washington, DC, event, the president said he believes that reducing inflation will in turn help to bring down interest rates, a move that will put homeownership 'within the reach of millions and millions for the first time in years.'
'I love people that are in the real estate business,' Trump began. 'I have a little bit of a proclivity for it. You play a vital role in helping Americans achieve the dream of homeownership, and together, we will make the American dream more attainable than ever before.
'We are working to rapidly defeat inflation, which will bring down interest rates and put homeownership within the reach of millions of millions for the first time in years.'
April's inflation rate—2.3%—is 'much lower than expected,' Trump noted. 'Likewise, income soared by 0.8% in one month, almost triple expectations and close to record territory. Mortgage rates are down, we're slashing unnecessary regulations, and we are working to pass the largest tax cuts and reforms in American history.'
April's inflation rate is the lowest since February 2021, but it's not expected to motivate the Federal Reserve to lower interest rates. The Fed will be meeting mid-June and will announce any decision on rates when it wraps up its two days of meetings.
Meanwhile, Trump has repeatedly slammed Jerome Powell for not taking further action—despite the Fed chair claiming that longer-term rates will likely remain higher because of the risk of 'volatile' inflation.
Homebuying help is at hand
Affordability has been a major challenge for potential buyers despite home listing inventory seeing gains in regions like the West (+40.7% year over year) and the South (+32.9% YoY), according to the Realtor.com® May 2025 Monthly Housing Report.
Mortgage rates continue to hover near the 7% mark—which is leading potential buyers to take their time committing to a home.
New listings also inched up last week—up 4.2% compared with the same time last year.
Homeowners looking to build a new home are also faced with challenges, as Trump's 50% tariffs on steel and aluminum took effect on June 5.
'Higher tariffs on steel and aluminum are likely to raise the cost of key construction materials, and these added costs could be passed through to homebuyers through higher home prices,' says Hannah Jones, senior economic research analyst at Realtor.com.
Following this latest tariff hike by Trump last week, the National Association of Home Builders continued to express concern over the toll the increased costs will have on homebuilders—and the wider housing market.
'President Trump's move to double steel and aluminum tariffs will have a negative impact on housing affordability by further disrupting building material supply chains and fueling business uncertainty,' NAHB Chairman Buddy Hughes told Realtor.com.
But Trump, in his pre-recorded speech to the NAR, thanked industry leaders for their support of the 'big, beautiful bill,' which is currently sitting with the Senate for review.
'I want to thank the Realtors® for your support of the one big, beautiful bill, the most important piece of legislation in many years,' said Trump. 'This landmark legislation, in fact, will preserve the small-business tax deductions and so many want and need, [that] so many real estate agents are just demanding.
'It will stop trillions of dollars in tax hikes on American families and put more money in the pockets of homebuyers by raising take-home pay for the typical family by an estimated $13,000. Think of that, $13,000 with your help, a record number of Americans will achieve financial independence and find a home that really fits their dreams and aspirations, something very, very beautiful.'
The tax and spending package is expected to cut trillions from the budget, but the Congressional Budget Office said it's going to add trillions to the national debt.
The president is pushing the Senate to approve the bill and get it to his desk to sign by July 4.
Ties with leaders at every level
A president's remarks at the NAR meetings has been a tradition since 1921. For example, NAR has invited every sitting president to its yearly conference. The first time Trump was in office, he delivered a live speech to attendees in 2019.
Herbert Hoover, Ronald Reagan, Bill Clinton, and George W. Bush are among the past presidents to speak at the conference. NAR said it does not pay a fee for a president to speak.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Elon Musk threatens to decommission SpaceX's Dragon spacecraft after Trump feud. What does it mean for the US space industry?
When you buy through links on our articles, Future and its syndication partners may earn a commission. An explosive, and very public, feud between President Donald Trump and SpaceX founder Elon Musk on Thursday (June 5) has raised doubts over the future of America's space industry. The war of words could place $22 billion of SpaceX's government contracts with multiple U.S. space programs at risk, according to one estimate, although the real figure — which remains classified — could be significantly higher. Following threats from the president on his social media platform Truth Social that the U.S. could cancel the government contracts and subsidies awarded to Musk's companies, the CEO of SpaceX retorted that his space company would "begin decommissioning its Dragon spacecraft immediately." Hours later, Musk responded to a follower telling him to "cool off" by saying "Good advice. Ok, we won't decommission Dragon." The disagreement began on Tuesday (June 3) when Musk criticized the administration's proposed tax and spending bill on his social media platform X. "This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it," Musk wrote on X. Related: 'No radio astronomy from the ground would be possible anymore': Satellite mega-swarms are blinding us to the cosmos — and a critical 'inflection point' is approaching This then escalated into a full-blown social media feud on Thursday, with Musk claiming that Trump's name appears in unreleased files relating to sex offender Jeffrey Epstein. The White House condemned these allegations. "This is an unfortunate episode from Elon, who is unhappy with the One Big Beautiful Bill because it does not include the policies he wanted," representatives wrote on X. Trump then claimed Musk "just went CRAZY," posting: "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" SpaceX's Dragon capsule is a reusable spacecraft capable of carrying up to seven passengers and cargo to and from Earth orbit, according to SpaceX. NASA currently relies on the capsule to ferry astronauts to the International Space Station (ISS), so canceling these government contracts effectively eliminates America's ability to launch astronauts to space from American soil, Live Science's sister website, reported. NASA also heavily relies on SpaceX for other space programs, having selected the Starship Human Landing System (HLS), a lunar lander variant of the company's next-generation Starship spacecraft, to carry American astronauts to the moon for the first time in more than 50 years aboard the 2027 Artemis 3 mission. NASA is investing $4 billion into Starship's development, and canceling its contract could seriously handicap NASA and the future of U.S.-led space exploration. While other competitors exist, such as Amazon founder Jeff Bezos's Blue Origin and Boeing's Starliner spacecraft, they lag far behind SpaceX. RELATED STORIES —Facing steep funding cuts, scientists propose using black holes as particle colliders instead of building new ones on Earth —Trump's 2026 budget would slash NASA funding by 24% and its workforce by nearly one third —NASA plans to build a giant radio telescope on the 'dark side' of the moon. Here's why. The Starliner capsule is not yet certified to fly operational astronaut missions and was responsible for "stranding" two astronauts on the ISS for nine months last year. The astronauts returned to Earth on March 18 aboard a SpaceX Dragon capsule, and neither Boeing nor NASA have offered any significant updates into fixes that will make Starliner flightworthy. SpaceX's lead on its competitors is reflected in the size of its government subsidies. In April, the U.S. Space Force, the military branch of U.S. space exploration, awarded the company nearly $6 billion in launch contracts, while the United Launch Alliance received $5.4 billion and Blue Origin $2.4 billion. In response to the feud between Musk and Trump, NASA press secretary Bethany Stevens declined to comment on SpaceX, but she did tell Reuters that "we will continue to work with our industry partners to ensure the president's objectives in space are met." NASA's deputy administrator Lori Garver told Reuters that, as well as not being in national interests, canceling SpaceX's contacts would probably not be legal. However, she also added that "a rogue CEO threatening to decommission spacecraft, putting astronauts' lives at risk, is untenable."
14 minutes ago
A top Taliban official offers amnesty to Afghans who fled the country and urges them to return
A top Taliban official said on Saturday that all Afghans who fled the country after the collapse of the former Western-backed government are free to return home, promising they would not be harmed if they come back. Taliban Prime Minister Mohammad Hassan Akhund made the amnesty offer in his message for the Islamic holiday of Eid al-Adha, also known as the 'Feast of Sacrifice.' The offer comes days after U.S. President Donald Trump announced a sweeping travel ban on 12 countries, including Afghanistan. The measure largely bars Afghans hoping to resettle in the United States permanently as well as those hoping to go to the U.S. temporarily, such as for university study. Trump also suspended a core refugee program in January, all but ending support for Afghans who had allied with the U.S. and leaving tens of thousands of them stranded. Afghans in neighboring Pakistan who are awaiting resettlement are also dealing with a deportation drive by the Islamabad government to get them out of the country. Almost a million have left Pakistan since October 2023 to avoid arrest and expulsion. Akhund's holiday message was posted on the social platform X. 'Afghans who have left the country should return to their homeland,' he said. 'Nobody will harm them." "Come back to your ancestral land and live in an atmosphere of peace,' he added, and instructed officials to properly manage services for returning refugees and to ensure they were given shelter and support. He also used the occasion to criticize the media for making what he said were 'false judgements' about Afghanistan's Taliban rulers and their policies. 'We must not allow the torch of the Islamic system to be extinguished,' he said. 'The media should avoid false judgments and should not minimize the accomplishments of the system. While challenges exist, we must remain vigilant.' The Taliban swept into the capital Kabul and seized most of Afghanistan in a blitz in mid-August 2021 as the U.S. and NATO forces were in the last weeks of their pullout from the country after 20 years of war. The offensive prompted a mass exodus, with tens of thousands of Afghans thronging the airport in chaotic scenes, hoping for a flight out on the U.S. military airlift. People also fled across the border, to neighboring Iran and Pakistan. campaign against the Taliban.
Yahoo
14 minutes ago
- Yahoo
Ohio food banks strain as Trump slashes federal aid programs
By P.J. Huffstutter COLUMBUS, Ohio (Reuters) -On a warm spring morning, volunteers at the Mid-Ohio Food Collective plucked cucumbers from a greenhouse where a state psychiatric hospital once stood and the land lay fallow. Now the state's largest food bank is working that ground again, part of an urgent effort to shore up supplies amid shrinking federal support, including deep funding cuts under President Donald Trump. They are planting more. Prepping soil for fruit trees, and installing hives for honey. In the greenhouse, crates of romaine and butterhead lettuce were packed for delivery, bound for a pantry across town. Back at headquarters in Grove City, staff chased leads from grocers, manufacturers, even truckers looking to unload abandoned freight. Every pallet helped. Every pound counted. In a state that handed Trump three straight wins, where Trump flags flap near food aid flyers pinned on bulletin boards, the cost of his austerity push is starting to show. "Food banks will still have food," said Mid-Ohio CEO Matt Habash. "But with these cuts, you'll start to see a heck of a lot less food, or pantries and agencies closing. You're going to have a lot of hungry, and a lot less healthy, America." For decades, food banks like Mid-Ohio have been the backbone of the nation's anti-hunger system, channelling government support and donations from corporations and private donors into meals and logistics to support pantries at churches, non-profits and other organizations. If a food bank is a warehouse, food pantries are the store. Outside one of those – the Eastside Community Ministry pantry in rural Muskingum County, Ohio – Mary Dotson walked slow, cane in hand. The minute she stepped through the doors, her whole body seemed to lift. They call her Mama Mary here, as she's got the kind of voice that settles you down and straightens you out in the same breath. The regulars grin as Dotson, 77, pats shoulders, swaps recipes. She had tried to do everything right: built a career, raised five children, planned for the quiet years with her husband. But after he died and the kids moved away, the life they'd built slipped out of reach. Now her monthly Social Security check is $1,428. She budgets $70 of that for groceries, and she gets $23 in food benefits as well. She started as a volunteer at Eastside. Simple math convinced her to become a customer. 'I figured if I'm going to take these things,' Dotson said, 'I'm going to work here, too.' CAMPAIGN FODDER The Mid-Ohio Food Collective was born out of church basements and borrowed trucks nearly a half-century ago, when factory closures left more families hungry. It's now the state's largest food bank, feeding more than 35,000 Ohio families a week. It supplies more than 600 food pantries, soup kitchens, children and senior feeding sites, after-school programs and other partner agencies. When Trump returned to office in January, Mid-Ohio was already slammed. Pantry visits across its 20 counties hit 1.8 million last year, nearly double pre-COVID levels, and are continuing to grow this year. The biggest surge came from working people whose paychecks no longer stretch far enough due to pandemic-era inflation under Joe Biden's presidency, staff said. Then came the Trump cuts. In March, the U.S. Department of Agriculture (USDA) cancelled the pandemic-era Local Food Purchase Assistance (LFPA) program, which funded about $500 million annually for food banks; and froze about $500 million in funding for The Emergency Food Assistance Program (TEFAP), one of the agency's core nutrition programs that supplies food to states to pass on to food banks for free. Much of the food Mid-Ohio distributes is donated, but donations alone can't stock a pantry consistently. Its current $11.1 million purchasing budget, built from federal, state and private dollars, helps fill the gaps. The March cuts wiped out about 22% of Mid-Ohio's buying power for next fiscal year – funds and food that staff are trying to replace. In early December, Mid-Ohio ordered 24 truckloads filled with milk, meat and eggs for delivery this spring and summer. The food came through the TEFAP program, using about $1.5 million in government funding. The first delivery was scheduled to show up April 9. The only thing to arrive was a cancellation notice. USDA said in a statement Secretary Brooke Rollins is working to ensure federal nutrition spending is efficient, effective and aligned with the administration's budget priorities. More cuts could come. Last month, the Republican-controlled U.S. House of Representatives passed Trump's tax and spending bill. It called for $300 billion in cuts to food benefits for low income people under the Supplemental Nutrition Assistance Program (SNAP), which fed nearly 1.4 million Ohioans in January, according to the latest state data. If the cuts survive the Senate and are passed into law, it annually would cost Ohio at least $475 million in state funding to maintain current SNAP benefits, plus at least $70 million for administrative program costs, said Cleveland-based The Center for Community Solutions, an independent, nonpartisan policy research group. That would consume nearly every state-controlled dollar in Ohio's Department of Job and Family Services budget, roughly 95% of the general revenue meant to help fund everything from jobless claims to foster care. Ohio Gov. Mike DeWine and other lawmakers in this GOP supermajority state capitol, facing a constitutional requirement to pass a balanced budget, told Reuters that extra money for food banks isn't there. The proposed fiscal 2025 Ohio budget would set food bank funding back to 2019 levels – or about 23% less than what it spent this year, in a state where nearly one in three people qualify for help. Federal safety-net programs have become campaign fodder, too. At a recent Ohio Republican Party fundraiser in Richland County, Ohio, voters in suits and Bikers for Trump gear alike listened to Vivek Ramaswamy, the tech millionaire turned presidential candidate now running for Ohio governor. He spoke out against "a culture of dependence on the entitlement state that has festered in our country for 60 years." SAVING A PENNY So what happens when the government pulls back and supplies thin? If you're Victoria Brown and her small team of four, it means working the phones, chasing leads, watching markets, and moving fast. At Mid-Ohio's offices in Grove City, the food bank's director of sourcing sipped her coffee and squinted at her screen, eyes tracking the price-per-pound of cucumbers down to the cent. Saving a penny might seem inconsequential, unless you're trying to buy 40,000 pounds. In a supply chain that has relied on steady government support, food donations have become even more important, even as they grow more haphazard in both timing and what's available. Outside Brown's office, one staffer was trying to track down a shipment of pineapples. The rest were on the road, talking crop conditions with farmers, negotiating delivery times with suppliers and checking with grocers to see what might be sitting in the back, waiting for a second life. Brown glanced at her inbox, where new offers stacked up: At 11:10 a.m., one pallet of frozen chicken. I'll find out why it's being donated, a staffer promised. At 11:13 a.m., four pallets of cereal, bulk packed in industrial totes. Brown jotted a note for the volunteer coordinator: Anyone available to scoop a thousand pounds of cereal into small bags? RACING THE CLOCK Some of that food may be headed for Mid-Ohio's Norton Market, a modern food pantry built to feel like a real store in Columbus. The man in charge here is Denver Burkhart. He moves with the kind of precision the military teaches and life reinforces. At 35, he looks every bit the soldier he still is – broad-shouldered and lean, squared off at the edges. Fifteen years in the Army, two tours in Afghanistan, one in Iraq, now he has a mission back home until he serves overseas again with the Ohio Army National Guard. He started the morning as he always does: at a laptop in the back cramped office, racing to secure whatever free or discounted goods Brown's team had found. He leaned over the keyboard, one eye on the clock, the other on the blinking screen. The inventory system had just refreshed. The race was on to fill his mental list. His fingers clicked fast, steady, practiced. He hovered over baby formula. More moms have been showing up lately. Forty cases into the cart. Maybe too many – but if he waited, they'd be gone. "I rely heavily on the free product," he said. "Without it, we'd be hurting really bad." "WATER DAYS" Across town, Shannon Follins checks on her ice supply. It's for what she calls the "water days." Follins, 37, is raising three kids, including 3-year-old twins. One is autistic; he hasn't found his words yet. Until recently, Follins worked third shift at Waffle House for $5.25 an hour, and now she's studying for a degree in social services. Family brings groceries when they can. But it's the pantry at Broad Street Presbyterian Church, stocked by Mid-Ohio, that lets her make meals that feel like more than survival. One recent night, her daughter Essence twirled barefoot across their kitchen floor, dancing to the sounds of boiling pasta and chicken simmering in the pan. When there was nothing else to eat, she filled her kids' bellies with tap water and a mother's promise that tomorrow might be better. "It gives me a sense of security," she said, nodding toward the plastic jugs stacked in her freezer. If the government cuts food aid? She's prepared for more water days.
