Peter Schiff Says Trump Wants Home Prices 'Expensive' So Older Owners 'Keep Feeling Good' While Claiming To Help Young Families

Economist Peter Schiff criticized President Donald Trump on Sunday over rising home prices, which are making existing homeowners richer while younger Americans struggle to buy. Higher Home Prices In a post on X, Schiff stated, "Trump actually said he doesn’t want lower home prices so young families struggling to buy their first home can afford one. He wants already expensive home prices to keep rising, so that older homeowners who bought them at much lower prices can keep feeling good about being rich." Trump actually said he doesn't want lower home prices so young families struggling to buy their first home can afford one. He wants already expensive home prices to keep rising, so that older homeowners who bought them at much lower prices can keep feeling good about being rich.— Peter Schiff (@PeterSchiff) May 17, 2026 The economist explained that while higher home prices are boosting wealth for the older homeowners, young Americans are struggling. Higher home prices and mortgage rates make homeownership less attractive for first-time buyers, discouraging home purchases. Read Also: Dollar Rally Gains Steam As Traders Scale Back Fed Rate Cut Bets—These ETFs Are Climbing Affordability Concerns Lawrence Yun, chief economist at the National Association of Realtors, said affordability remains a key challenge across the housing market. While lower mortgage rates and stronger income growth have modestly supported affordability, the ongoing pressure for first-time buyers remains significant. The annual median existing home sales price has now risen for the 34th consecutive month, with April prices rising to $417,700. This was the highest median home price ever recorded for April. Mortgage rates have been rising, with the 30-year fixed-rate mortgage averaging 6.36% as of May 14. This is up from 6.81% in the year-ago period, according to Freddie Mac’s latest Primary Mortgage Market Survey. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor. Read Also: Nvidia Overtakes Silver To Become World's Second-Largest Asset At $5.52 Trillion, Market Commentator Calls It 'Historic Technological Revolution' Image via Shutterstock/ Joshua Sukoff