Trump Reelected Amid Housing Market Concerns

President-elect Donald Trump has declared victory in the 2024 presidential election, promising to initiate a 'new golden age for America' and to tackle the housing crisis with plans to build homes on federal land and offer tax incentives for homeownership. However, experts warn that his stricter immigration policies may hinder these housing initiatives, as immigrants constitute a significant portion of the construction workforce. Public sentiment appears to support the need for more housing, with nearly 80% of Americans acknowledging the shortage. Trump's victory has also stirred mixed reactions internationally, particularly in the UK, where experts predict potential rises in mortgage rates due to inflationary pressures from his policies. As Trump prepares to pursue his agenda, including housing reforms, the Republican Party's control of Congress could facilitate swift action, despite concerns about the lack of housing supply. Meanwhile, New York Mayor Eric Adams emphasizes the city's commitment to defending its values, including women’s rights and immigrant protections, regardless of the new administration's policies.