President Trump signs executive order intended to cut housing costs

United States President Donald Trump signed an executive order intended to lower housing costs, WSMH reported. The signing comes shortly before midterm elections in which inflation and housing affordability remain major concerns for American voters. [1]

The executive order, signed on Thursday, directs several government agencies to take specific actions to reduce expenses for home buyers. According to WSMH, the order instructs agencies to lower mortgage costs, offer access to cheaper alternatives to title insurance, and support the construction of manufactured housing. [1]

The White House stated that the administration is working to remove burdensome costs and red tape to make homeownership more affordable for all Americans. The statement added that homeownership remains a vital pillar of the nation. [1]

The move follows previous executive actions taken by the administration regarding economic relief. As FTMQ Politics reported earlier, President Trump previously signed an executive order directing the Treasury Department to waive tax penalties on off-road diesel fuel to assist farmers and truckers. [3]