White House unveils housing plan

The White House said on April 13 that the United States is short at least 10 million homes and argued that cutting building rules could unlock a surge in construction. (whitehouse.gov) The estimate comes from Chapter 6 of the 2026 Economic Report of the President, written by the Council of Economic Advisers, which says the gap opened after homebuilding fell sharply following the 2008 financial crisis. (whitehouse.gov) White House economists wrote that if single-family construction had kept growing at its historical pace after 2008, there would be “10 million or more” additional homes today. (bloomberg.com) The report frames regulation as a major cost driver. It says a typical buyer at the end of 2024 faced about $2,400 in monthly mortgage principal and interest, more than $1,000 above the level at the end of 2019. (whitehouse.gov) It also says the typical age of a first-time homebuyer has climbed from 28 in the early 1990s to 40, citing National Association of Realtors data. (whitehouse.gov) President Donald Trump signed executive orders in March directing agencies to review rules that raise construction costs or slow approvals, including permitting, environmental reviews, manufactured housing policies, and development density standards. (realtor.com) The White House is also tying the report to legislation. Trump’s March order came one day after the Senate passed the 21st Century Reforming Our Approach to Development to Housing Act, a bipartisan bill aimed at expanding supply and reducing barriers to building and mortgage lending. (realtor.com) The administration’s 10 million figure is larger than many outside estimates. Realtor.com put the national housing supply gap at 4.03 million homes in its 2026 report, and Bloomberg noted the White House number is above several private-sector and government estimates. (realtor.com) (bloomberg.com) That gap in estimates matters for the policy argument. A shortage measured in the millions supports the administration’s case for faster approvals and looser rules, while smaller estimates suggest affordability may also depend on mortgage rates, local demand, and what kinds of homes get built. (usnews.com) (realtor.com) For now, the White House has put housing back at the center of its affordability message: build more homes, speed up approvals, and try to reverse a shortfall it says has been building for nearly two decades. (whitehouse.gov)