Current List of Trump’s Actions that Impact Housing

In our ongoing effort to keep you informed about the Trump Administration's policy changes affecting the housing market, we present this analysis of recent executive orders and policies, along with their potential implications.

In this article (Skip to...)

• Executive orders
• Tariffs and Trade Policies
• Federal employees
• Consumer Financial Protection Bureau
• HUD, FHFA, Fannie and Freddie

Trump's Executive Orders

Continuing the Reduction of the Federal Bureaucracy

What Happened:

On March 14, 2025, President Trump signed the executive order titled “Continuing the Reduction of the Federal Bureaucracy.” The order directs the elimination or restructuring of several federal entities deemed nonessential, including:

• The United States Interagency Council on Homelessness (USICH)
• The Community Development Financial Institutions Fund (CDFI Fund)

On March 31, 2025:

• 75 employees at the Institute of Museum and Library Services (IMLS) were placed on paid administrative leave and instructed to cease operations immediately.

From April 10–17, further reductions were implemented:

• The Federal Mediation and Conciliation Service (FMCS) was effectively shut down, with over 90% of staff placed on leave. Labor unions including the AFL-CIO have filed suit, alleging unlawful dismantling of an agency established by Congress.
• The National Endowment for the Humanities (NEH) cut 80% of its workforce, threatening programs planned for the United States’ 250th anniversary in 2026 and disrupting state-level community initiatives.
• Hundreds of NOAA employees were terminated following a Supreme Court decision declining to intervene. Most of the cuts targeted climate and environmental research divisions.

Who's Impacted:

• Homeless Assistance Programs: Organizations relying on federal coordination through the USICH may face challenges in addressing homelessness effectively.​
• Community Development Financial Institutions: Financial entities that provide affordable lending to low-income communities could experience reduced support, affecting their ability to finance affordable housing projects.​
• Museums and Libraries: Institutions dependent on IMLS grants may face funding shortfalls, affecting community access to educational and cultural resources.
• Workers and Labor Unions: The dismantling of FMCS weakens federal support for conflict resolution in labor disputes, potentially escalating tensions in sectors such as public infrastructure and construction.
• Public Historians and State Cultural Institutions: The NEH reductions may stall or cancel publicly funded events, including those planned for the 250th anniversary of American independence.
• Climate and Environmental Scientists: NOAA layoffs eliminate federal support for key climate research, creating gaps in data and reducing environmental risk forecasting.

Why It Matters:

The reduction or elimination of these agencies may lead to decreased federal support for programs aimed at combating homelessness and promoting affordable housing. This could result in increased strain on local governments and nonprofits to fill the gap, potentially slowing down efforts to address housing affordability and homelessness.​

Additionally, the shutdown of agencies like FMCS and NEH could disrupt labor relations and cultural programming, while the rollback of NOAA’s climate research limits the nation’s ability to monitor environmental threats.

Supporters argue that streamlining federal housing and support programs could reduce redundancy, improve funding efficiency, and give states more control over resource allocation. They also frame the cuts as necessary to restore constitutional limits on the administrative state and redirect resources toward more “core” government functions.

Additional Rescissions of Harmful Executive Orders and Actions

What Happened:

On March 14, 2025, President Trump signed an executive order titled “Additional Rescissions of Harmful Executive Orders and Actions,” repealing multiple regulations from the previous administration.

Most notably, it revoked Executive Order 14026, which had raised the minimum wage for federal contractors to $17.75/hour.

By mid-April:

• The Department of Labor formally ceased enforcement of EO 14026 and began the regulatory rollback process.
• Contractor wages are now governed by pre-existing statutes (Service Contract Act and Davis-Bacon Act), leading to inconsistencies in minimum wages across projects.
• Industry and labor groups are debating the long-term effects—some predict cost savings and hiring flexibility, while others warn of worsened worker conditions and job quality.

Who's Impacted:

• Federal Contractors and Workers: Especially those in construction, maintenance, and housing projects tied to federal contracts.
• Low-Income Laborers: May face stagnant wages despite inflationary pressures.

Why It Matters: Lowering the minimum wage for federal contractors could reduce labor costs for housing-related federal projects. While this might decrease expenses for some projects, it could also impact the livelihoods of workers and potentially affect the quality of work if lower wages lead to reduced worker retention and morale.​ Conversely, some industry groups argue that lower wage floors can help businesses hire more workers, boost job creation in housing projects, and cut costs for taxpayers.

Restoring Public Service Loan Forgiveness

What Happened:

On March 7, 2025, President Trump signed an executive order modifying the Public Service Loan Forgiveness (PSLF)program.

Key changes included:

• Disqualifying employees of organizations deemed to serve a “substantial illegal purpose.”

• The Department of Education announced public hearings for April 29 and May 1 as part of its rulemaking process.

In the week of April 10–17:

• Borrowers reported lengthy delays in PSLF and Income-Driven Repayment (IDR) application processing, with no clear resolution timeline.

• New repayment rules were announced: Starting May 10, spousal income will be included in monthly payment calculations—even for separated couples or those filing taxes individually. This change follows a court ruling that invalidated the SAVE plan’s income exclusion.

Who's Impacted:

• Nonprofit and Public Sector Employees: Individuals working in housing-related nonprofits or public agencies could be affected if their organizations are classified under the new criteria.​
• Married Student Loan Borrowers: Those previously shielded from including spousal income in monthly calculations may face higher payments, making it more difficult to remain in public service roles.
• Loan Servicers: May be overwhelmed by backlog and regulatory ambiguity.

Why It Matters: Changes to the PSLF program could deter professionals from working in certain housing-related nonprofits or public agencies, potentially leading to staffing shortages in critical housing assistance programs. This may hinder efforts to provide affordable housing and support services to vulnerable populations.​ The administration has defended the move, stating that it aims to ensure taxpayer dollars aren't funding organizations with questionable finances, promoting greater public sector accountability.

The newly announced repayment calculation policy may further strain public service workers—especially lower-earning spouses—who now face increased financial burdens, undermining incentives to stay in PSLF-eligible roles.

Tariffs and Trade Policies

What Happened:

• On April 2, 2025, President Trump has announced an additional universal tariff of 10% on all imported goods, effective April 5, 2025. 
• Further tariff increases targeted approximately 60 counties based on their trade deficits with the U.S., including raising tariffs on Chinese imports to an effective date of 54% as of April 9, 2025.
• A 25% tariff on all imported automobiles was implemented on April 3, 2025, with auto parts tariffs expected soon.

In the past week:

• On April 9, 2025, the administration issued a new executive order temporarily suspending the higher "reciprocal" tariffs for 90 days for all countries except China. The 10% baseline tariff remains in effect for most imports.
• The 25% tariff on imported automobiles, effective April 3, 2025, has led automakers like Ford and Volkswagen to announce imminent vehicle price hikes. The administration has indicated potential tariff relief for car companies needing time to adjust supply chains.
• Retailers such as Shein and Temu have announced price increases starting April 25, 2025, in response to the new tariffs and the elimination of the "de minimis" exemption for low-value imports from China.

 Who's impacted:

• Homebuilders and Developers: Higher material costs could increase construction expenses.
• Homebuyers: Rising construction costs may be passed on to buyers, affecting affordability.
• Automobile Industry:
  • Automakers: Facing higher costs, potentially shifting production domestically to mitigate tariff impacts.
  • Consumers: Likely to see significant price hikes on imported vehicles and auto parts.
• Retailers and Consumers: Broad tariffs mean higher prices for imported consumer goods, affecting household budgets and spending behavior.
• Financial Markets: Markets reacted with significant volatility, reflecting investor concerns about broader economic impacts and potential trade disputes.

Why It Matters:
The new tariffs significantly increase costs across housing, autos, and consumer goods, potentially slowing economic growth and raising prices for consumers. The tariff-induced market manipulation resulted in sharp stock decline, highlighted investor fears of escalating trade conflicts and broader economic uncertainty. Supporters argue tariffs protect domestic industries, while critics warn they risk economic instability and higher inflation.

Federal Employees; Hiring, Funding, and Regulatory Freeze

What Happened:

On March 14, 2025, President Trump issued an executive order directing all federal agencies to submit plans for mass layoffs, budget cuts, and regulatory reductions as part of a broader effort to shrink the federal workforce and streamline operations.

A hiring freeze was enacted across most agencies—with limited exceptions for law enforcement and national security—and a sweeping regulatory review process began to identify and eliminate so-called “redundant or burdensome” federal rules, many of which affect housing and community development programs.

Since then, the following developments have unfolded:

• HUD announced it will cut approximately 4,000 positions—reducing its workforce by 50%.

  • The Office of Community Planning and Development faces an 84% staffing cut, affecting disaster relief and block grants.

  • The Office of Public and Indian Housing, which manages rental aid for over 3.5 million households, is set to lose half its staff.

• The Office of Fair Housing and Equal Opportunity may lose 77% of its staff, raising concerns about fair housing enforcement.

• The Department of Energy extended its hiring freeze beyond the original 90 days and labeled 43% of its workforce “non-essential” as part of internal restructuring.

• AmeriCorps’ National Civilian Community Corps (NCCC) was terminated, cutting short the service of nearly 2,200 volunteers active in disaster recovery and community projects.

Who's Impacted:

• Federal Agencies like HUD: May face staffing shortages, delayed program rollouts, and limited capacity to administer housing initiatives.
• Public Sector Employees: Workers in housing-related agencies could be at risk of job loss or face uncertainty about future roles.
• Communities Relying on Housing Programs: May experience service delays or reduced support due to agency downsizing.
• Disaster-Affected Communities: The termination of AmeriCorps NCCC volunteers could hinder disaster preparedness and recovery efforts nationwide.

Why It Matters:
These measures could slow the implementation of housing programs and delay assistance to vulnerable communities. Critics argue that staffing cuts and budget freezes threaten the effectiveness of critical housing services. Supporters, on the other hand, believe streamlining agencies will reduce waste, increase efficiency, and refocus resources on core government functions.

Consumer Financial Protection Bureau (CFPB)

What Happened:

The Consumer Financial Protection Bureau (CFPB) has not been directly targeted by an executive order as of mid-April 2025. However, it remains under active review as part of the federal government’s broader effort to shrink or realign agencies seen as overreaching.

In recent developments:

• On April 12, 2025, House leadership introduced a bill to place the CFPB under congressional appropriations,a shift from its current independent funding through the Federal Reserve. Supporters argue this would increase accountability; critics say it could politicize enforcement.

• The CFPB is also one of several agencies now subject to the Office of Government Efficiency’s “Effectiveness Index,” which will score regulatory agencies based on cost-to-compliance ratios.

• Reports surfaced that the Bureau’s fair lending enforcement team may be scaled back by executive directive, pending internal DOJ review of discrimination case outcomes over the past five years.

Who's Impacted:

• Homebuyers and Mortgage Borrowers: May face changes in how consumer protections are enforced in mortgage lending.
• Lenders and Financial Institutions: Could see reduced regulatory burdens and increased flexibility in lending practices.
• Consumer Advocates: Organizations focused on housing finance oversight may face challenges in ensuring accountability.

Why It Matters:
Reform or downsizing of the CFPB could shift the balance between borrower protection and industry flexibility. Supporters argue it's time to rein in a “bureaucratic watchdog” that hampers innovation. Critics warn that weakened oversight invites a resurgence of abusive or high-risk lending—especially for first-time or lower-income homebuyers.

HUD, FHFA, Fannie Mae and Freddie Mac

What Happened:

• Program Funding: Budgetary constraints resulting from the federal workforce reduction and funding freezes may lead to decreased funding for HUD programs, affecting affordable housing initiatives and community development projects.​
• Policy Revisions: The FHFA may revise policies related to mortgage lending and housing finance, potentially altering the availability and terms of home loans.​
• Staff Firings: On March 20, 2025, new FHFA Director Bill Pulte fired Freddie Mac CEO Dianna Reid and placed two senior FHFA officials on leave. This came after Pulte fired 14 members from the Fannie Mae and Freddie Mac's board of directors and appointed himself as chairman of both. However, that self-appointment breaks U.S. Code Title 12 of the Federal Housing Finance Regulatory Reform Act of 2008. These sweeping changes have accelerated efforts to privatize the two mortgage giants.
• Terminating Special Purpose Credit Programs: FHFA officially ended all SPCPs offered by Fannie Mae and Freddie Mac as of April 2, eliminating special loan programs targeting first-time and underserved borrowers. SCPCs provide financing to historically underserved and overlooked borrowers.
• Tenant Protections Removed: Effective April 1, 2025, FHFA Director Bill Pulte rescinded multifamily tenant protections (e.g., 30-day notices for rent increases).
• New HUD Income Limits: HUD updated eligibility thresholds for affordable housing programs effective April 1, 2025, reflecting new median income data.
• Radon Inspection Standards: On March 26, 2025, FHFA reduced requirements for radon inspections on multifamily loans, citing unnecessary costs and delays. While naturally occurring, radon is a radioactive gas that can concentrate indoors, causing adverse health effects such as lung cancer.
• “American Housing Programs for American Citizens": On March 26, 2025, HUD Secretary Scott Turner announced the FHA removed "non-permanent residents" from accessing FHA-insured mortgages. This includes DACA recipients, asylum seekers, and refugees. "Illegal" immigrants were never eligible for these loans.
• Cancelled DEI "Nonsense" at Fannie and Freddie: On April 4, FHFA Director Bill Pulte cut board diversity and diversity data collection. On April 7, Pulte claimed the cuts already saved $6.4 million.
• Over 100 Fannie Mae Employees Fired: On April 8, FHFA Director Bill Pulte fired about 100 Fannie Mae employees behind a claim of "unethical conduct."
• Mortgage Insurance Premium Tax Relief: On April 11, 2025, Rep. Vern Buchanan (R-Fla.) introduced H.R. 2760 — the Middle Class Mortgage Insurance Premium Act — a bipartisan bill to make the mortgage insurance premium (MI) tax deduction permanent and raise the income cap for eligibility. The bill aims to lower homeownership costs for middle-class buyers, particularly those using FHA loans. Though still in committee, it aligns with the administration’s broader push to reduce housing costs.
• Privatization: On April 15, Pulte announced plans to transfer the government's stakes in Fannie Mae and Freddie Mac to a newly created sovereign wealth fund.
• More Eliminations: On April 14, the Division of Public Interest Examination was eliminated and the Office of Minority and Women Inclusion was folded into another department.

Who's Impacted:

• Homebuyers and Mortgage Borrowers: Privatizing Fannie Mae and Freddie Mac could lead to higher mortgage rates or stricter lending criteria.
• Renters and Tenants: Reduced protections (like shortened notice periods) could increase instability and displacement risks.
• First-Time Homebuyers: Ending Special Purpose Credit Programs (SPCPs) limits affordable homeownership options for historically underserved groups.
• Non-Permanent Residents: Exclusion from FHA loans reduces homeownership access for DACA recipients, refugees, and other non-permanent residents.
• HUD Employees and Beneficiaries: Staffing cuts and office closures may disrupt HUD’s housing assistance and community support programs nationwide.
• Diversity, Equity, and Inclusion: Organizational DEI movements — meant to provide a fair playing field for all demographics to counteract historically racist and sexist business practices — have been slashed by the Trump administration.

Why It Matters:
These moves are steps in the administration's effort to privatize the government-sponsored enterprises (GSEs) of Fannie and Freddie, which back about half of U.S. mortgages. Among other things, privatizing the GSEs would likely usher in the potential for riskier loans and higher interest rates, alongside shareholder profiteering. Supporters see it as a way to cut taxpayer exposure, boost competition, and modernize mortgage finance.

The bottom line

These executive actions reflect a shift in federal policy that could have significant implications for the housing market.

Stakeholders, including housing advocates, developers, and policymakers, should closely monitor these changes to assess their impact on housing affordability, availability, and quality.

Proactive engagement and adaptation to these policy shifts will be crucial in navigating the evolving landscape of housing in the United States.​

Note: The analysis above is based on information available as of April 18, 2025. For the most current updates, please refer to official government publications and trusted, independent news sources.​