Here's what the Trump presidency could mean for the housing market, experts say

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Donald Trump wants to address the housing shortage in the U.S. But some of his promises might be hurdles in the way.

"We're going to open up tracks of federal land for housing construction," Trump said during a Aug. 15 news conference."We desperately need housing for people who can't afford what's going on now."

For instance, Trump has talked about enacting a mass deportation of immigrants in the U.S. But doing so might lead to higher building costs, as the construction industry depends on immigrant labor, said Jacob Channel, senior economist at LendingTree."That could be a blueprint going forward," said Dennis Shea, executive director of the Bipartisan Policy Center's Terwilliger Center.

"If we reduce the regulatory burden on home construction or apartment construction, we're going to lower costs the consumer," Tobin said.Instead, they live in homes owned by U.S. citizens, Channel said. If a mass deportation were to happen, such homes would remain occupied, he added. Therefore, a mass sweeping of available workers can create a labor shortage in construction. And with fewer workers, wages might increase, which"will likely be passed onto consumers" through higher home prices, Channel said.

 

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