How officials propose to address housing costs

Democratic and GOP legislators offer plans targeting affordability, a key issue for voters.

- BY GAVIN J. QUINTON

CALIFORNIA’S housing costs are about twice the U.S. average, according to the Legislative Analyst’s Office.

(Justin Sullivan Getty Images)

Donald Trump’s promises on affordability in 2024 helped propel him to a second term in the White House.

Since then, Trump says, the problem has been solved: He now calls affordability a hoax perpetrated by Democrats. Yet the high cost of living, especially housing, continues to weigh heavily on voters, and has dragged down the president’s approval ratings.

In a poll conducted this month by the New York Times and Siena University, 58% of respondents said they disapprove of the way the president is handling the economy.

How the economy fares in the coming months will play an outsize role in determining whether the Democrats can build on their electoral success in 2025 and seize control of one or both chambers of Congress.

With housing costs so central to voters’ perceptions about the economy, both parties have put forward proposals in recent weeks targeting affordability.

Here is a closer look at their competing plans for expanding housing and reining in costs:

Nationwide, wages have barely crept up over the last decade — rising by 21.24% between 2014 and 2024, according to the Federal Reserve. Over the same period, rent and home sale prices more than doubled, and healthcare and grocery costs rose 71.5% and 37.35%, respectively, according to the Fed.

National home price-to-income ratios are at an all-time high, and coastal states such as California and Hawaii are the most extreme examples.