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

President-elect Donald Trump wants to address housing affordability in the U.S. by fomenting the construction of new homes.

“We’re going to open up tracks of federal land for housing construction,” Trump said during an Aug. 15 news conference.

There has been a small increase in new homes being built this year, but it’s still not enough to meet the high demand for housing. While building more homes is the simpler answer to address the housing issue in the country, other promises Trump has made could deter affordability efforts, experts say.
More here: (Source)

The S/M Take: 

Empowered by an electoral mandate and a win of both houses of Congress, the White House is gonna do what it’s gonna do. But America is fully aware of the affordable housing crisis. Witness the local ballot initiatives that bloomed across the country:

• Rhode Island authorized $120 million in bonds for housing acquisition, development, and infrastructure, including $80 million specifically for affordable housing. 
• Charlotte, N.C., approved a $100 million affordable housing bond funded by a city property tax increase.
• Baltimore allowed the city to borrow up to $20 million to operate its affordable housing program. 
• Los Angeles County repealed a quarter-cent sales tax that would have expired in 2027 and replaced it with a half-cent sales tax to address affordable housing and other issues. 
• San Francisco voters appropriated at least $8.25 million per year to pay for rental subsidies for extremely low-income affordable housing.
  

Younger generations face “wildly unaffordable” market as U.S. homebuyers now average age 56

The average age of U.S. homebuyers has climbed to 56, a sharp increase that underscores just how much young Americans are struggling in today's housing market.

High homeownership costs, rising mortgage rates and other economic burdens create steep hurdles for Millennials and Gen Z who increasingly find themselves on the sidelines of homeownership.
More here: (Source)

The S/M Take: 

Setting aside the emotional toll of aspiring homebuyers missing their grab at the golden ring, let’s look at the financial implication for home improvement: Older homebuyers typically need less stuff than younger ones. Older homebuyers, with a shorter window, may make fewer improvements than younger homebuyers. And older homeowners are almost certainly not expanding their homes for growing families.

While that won’t change, the way young homebuyers are scratching back is: A record number of Americans in 2024 used an inheritance to help finance a down payment on their first home, and 25% of first-time buyers used a gift or loan from a relative or friend to help finance the purchase of their home.

Where there’s a will… literally.

Popular kitchen design trends now nearing expiration date

Design is a constantly evolving thing. Not only does that keep things fresh (and keep stores in business), but it also evolves as needs change. 

The things that were important to us in 2024 are changing as 2025 quickly approaches, and because of that, certain trends are waning to accommodate new needs. 

To figure out what those trends are, we asked interior designers to share what is beginning to feel passé, and what is replacing them. More here: (Source)

The S/M Take: 

At The Drill Down, we live for design trends. But we still get spicy over reports like this. My farmhouse sink is out? SERIOUSLY!?

Here’s the deal, folks. Do this long enough, and you’ll see it all cycle around. Want proof? Check out this Reddit conversation: "What are the home upgrades of days gone by?” The kicker is that some of these retro features from the 50s, 60s, and 70s would be welcomed back today.

Go down memory lane right here.