Six months ago, the country transitioned from a presidential administration that championed affordable housing and housing equality, to one that has deprioritized and defunded such efforts. Nonetheless, housing experts say homebuyers and homeowners should not be deterred by the current environment and simply pay close attention to developing policies, changes and how the market performs.
“We recognize that today’s market–with its volatility, rising interest rates, and economic uncertainty–can make prospective buyers feel uncertain or even discouraged, but we encourage buyers not to let fear or temporary conditions derail their long-term goals,” said Nichelle McDuffie Hagins, president of the Greater Metropolitan Association of REALTIST (GMAR). “Trying to time the market perfectly is nearly impossible–but being informed, prepared, and supported makes all the difference.”
Derrick Barker, CEO and founder of real estate investment company Nectar also encourages purchasing a home when one is financially prepared to do so, not based on who occupies the Oval Office.
“Timing the market is never a good idea,” he said. “If you want to buy, you should buy whenever you have the money to do so. Buying a house now is a fine investment. I don’t see prices going down a lot.”
Still, Barker is one of many housing experts that say keeping an eye on next steps by the administration and Congress are crucial in strategizing one’s next move in the housing market, whether purchasing a new or second property, or refinancing an existing property.
“This is a first-time thing in the U.S.,” he said. “I would expect we’re going to see some unique things in the short term. It’s really going to stop trade. Prices are going to be higher. There will be a lot less activity, with fewer people buying and selling.”
A Less Equitable HUD
In January, a stanza in the Biden-Harris administration’s swan song included the Department of Housing and Urban Development awarding $100 million in grants to communities committed to removing barriers to affordable housing production and preservation.
One month later, the Trump administration by way of HUD Secretary Scott Turner, terminated the Affirmatively Furthering Fair Housing (AFFH) policy, which strays away from HUD’s legal obligation to eliminate housing discrimination, saying it was “cutting costly red tape imposed on localities and returning decision-making power to local and state governments.”
Democratic leaders are pushing back on HUD’s efforts to eliminate fair housing efforts, such as Rep. Maxine Waters (Calif.), ranking member on the House Financial Services Committee and Sen. Elizabeth Warren (Mass.), ranking member on the Senate Banking, Housing and Urban Affairs Committee.
“At a time when America is experiencing a full-blown housing crisis and record levels of housing discrimination complaints, this outright assault on civil rights takes us back to the days when the federal government rubber stamped segregation and discrimination,” the longtime legislators said. “He is eliminating a key tool that makes housing more affordable and accessible to everyday people, including people of color, older Americans, veterans, people with disabilities, families with children, and so many others.”
The California congresswoman and Massachusetts senator affirmed their commitment to working toward fair housing and equity for all.
“The fight for fair housing is on,” Waters and Warren said, “and Democrats will not back down until we fulfill the promise of equal opportunity in housing for every American.”
Tariffs Pose Another Challenge to Homeowners, Investors
Another negative housing market impact from the Trump administration’s new policies is affecting homeowners, developers, property managers and businesses.
The increase of tariffs is immediately restricting homeowners and businesses from easily and affordably purchasing items for their homes and investment properties, according to Barker, a real estate investor based in Atlanta, Georgia.
“Home, condo and apartment furnishings like flooring, countertops, appliances, fixtures, doorknobs, cabinet pulls and hinges are made abroad,” he said. “Coincidentally, a good chunk of labor in some markets come from abroad. If you restrict materials and labor, they get more expensive.”
With labor becoming scarce and buildings becoming more expensive to build due to tariffs, coupled with an already limited housing supply in the U.S., Barker said properties that are currently being built for availability in the next few years will be costly for renters.
“Furthermore, lenders and investors may be less likely to fund projects because, how will they know the actual cost?” he said. “Right now, we’re kind of coasting from the pre-pandemic boom. Soon, it will be a supply desert.”
Advocacy for Homeowners Coming from Black-led Organizations
When it comes to FY26, the Trump administration requested Congress decrease the FY26 budget by $32.3 billion, or 44%, in discretionary funding for HUD. This would cut HUD’s affordable housing, homelessness, and community development programs, in addition to negatively impacting rental and homelessness assistance.
Senate Appropriations Committee Vice Chair Patty Murray (D-WA) said the president’s request would “eviscerate” HUD funding and “rip the roofs off Americans’ heads and put even more families at risk of homelessness.”
In April, the African American Mayors Association (AAMA), a group of urban and rural mayors committed to solving housing challenges for residents, submitted a letter to Rep. Mike Flood (R-Nebraska), the ranking member and chairman of the House Subcommittee on Housing and Insurance. This group wanted to clearly express support for HUD’s HOME Investment Partnerships Program and Community Development Block Grant Program, which are at risk in the president’s proposed budget cuts.
Community Development Block Grant Program funds are a safeguard for cities around the country, which help support programs like making vital home repairs for seniors, providing mental health support, offering reentry services and eviction prevention programs.
“Providing cities flexibility to exceed this cap when services are directly tied to housing retention or community stabilization would unlock greater impact and better outcomes for residents,” said Phyllis Dickerson, AAMA CEO.
Greater Metropolitan Association of REALTIST was among the first to support the National Association of Real Estate Brokers’ (NAREB) partnership with AAMA and is working to build strong relationships between Black mayors and NAREB local boards across the nation.
“We strongly support the African American Mayors Association in their efforts to reauthorize HUD’s HOME Program and the Community Development Block Grant Program,” said Hagins. “These programs are critical for funding affordable housing development, revitalizing communities, and expanding homeownership opportunities– particularly in underserved neighborhoods.”
As the founder and current president of GMAR, Hagins is focused on developing affordable housing programs that bridge generational wealth gaps, create sustainable jobs, and promote self-sufficiency within our communities.
“From GMAR’s perspective, the reauthorization of these programs directly aligns with our mission to increase access to affordable housing and economic empowerment,” Hagins continued about the HUD programming. “They provide local governments and nonprofit developers the resources necessary to build vibrant, equitable communities where families can thrive.”
She said while advocates rally for change, budgets get finalized and tariffs are reduced, prospective home buyers still have options and should not give up on their homeownership dream.
“Our advice to buyers is to focus on what they can control,” Hagins emphasized. “Improve your financial readiness, get pre-approved, work with a trusted and knowledgeable REALTIST, and be prepared to act when the right opportunity presents itself.”
