Did Trump say he wanted housing costs to go up?
Executive summary
Yes — multiple news outlets recorded President Trump saying at a White House Cabinet meeting that he did not want to “drive housing prices down” and instead said he wanted to “drive housing prices up” for people who already own homes, a remark widely reported and captured on video by outlets including PBS and summarized by national press organizations [1] [2] affordability-economy-interest-mortgage-rates/88418610007/" target="_blank" rel="noopener noreferrer">[3].
1. What he said, concretely, and where it was reported
At a Jan. 29 Cabinet meeting the president was quoted as saying, “I don’t wanna drive housing prices down, I wanna drive housing prices up for people that own their homes,” and added that “people that own their houses, we’re going to keep them wealthy,” language published by People, USA Today, AL.com and covered in a PBS video segment that aired the remarks [1] [3] [4] [2].
2. Context: promises to lower mortgage costs and a broader affordability pitch
Those comments came alongside administration statements and posts promising to make buying easier by lowering mortgage rates and monthly payments — including a Truth Social post and White House descriptions of actions such as directing large-scale purchases of mortgage-backed securities and other policy steps aimed at reducing borrowing costs — creating an apparent tension between driving down financing costs while claiming not to lower home prices themselves [5] [6] [7].
3. Policy moves the administration says will help buyers while protecting homeowners
The administration has paired rhetorical defenses of homeowners’ equity with concrete proposals — like an executive order to curb institutional investors buying single-family homes and plans to deploy Fannie/Freddie purchases — framed by the White House as steps to both expand access and preserve existing owners’ wealth [8] [6] [3].
4. Critics, political reaction, and the real-world trade-offs flagged by analysts
Democrats and housing advocates immediately criticized the rhetoric as tone-deaf to first‑time buyers and renters, with senators and representatives characterizing the comments as a pledge to keep prices high for homeowners at the expense of prospective buyers [9] [10]; analysts and reporting also warned that deliberately keeping prices elevated risks constraining supply and pricing out first‑time buyers even if mortgage rates fall [2] [11] [12].
5. How to reconcile the apparent contradiction and what is verifiable
Reporting shows the president literally said he wanted to “drive housing prices up” for current owners [1] [2]; at the same time the administration publicly promotes tools to lower mortgage costs and increase supply [13] [6] [7], so the apparent contradiction is factual and documented in the sources — whether that reflects a coherent policy strategy or political signaling to homeowners versus buyers is a matter of interpretation and not fully resolved in available reporting [13] [6].
6. Bottom line and limits of these sources
The bottom line: yes, the public record in multiple mainstream outlets and video coverage confirms the president used that phrase and framed a policy stance of protecting owners’ home-equity by not seeking lower home prices [1] [2] [3]; however, these same sources also document simultaneous administration promises to lower borrowing costs and take steps aimed at affordability, and the materials provided here do not settle whether those promises will translate into lower overall housing costs for prospective buyers [6] [7].