President Donald Trump recently said: "I don't want to drive housing prices down. I want to drive housing prices up for people who own their homes."
He's made comments about wanting to raise housing prices before, even though those prices are exceptionally high right now. Many younger people have been priced out of the market—the median age of the first-time homebuyer is now 40 years old, a new high. Affordability is at an all-time low, with high prices and rising interest rates, and Trump wants to make houses even less affordable, though there is near-unanimous agreement that this is a profoundly bad idea. Why?
