It’s a question that’s been debated for decades in this country.
But this week, as the US House of Representatives debates whether to lift the ban on buying a new house or remodeling a house, it’s worth considering which is better.
House Democrats, who control both chambers of Congress, are calling on the Trump administration to lift a longstanding ban on new home purchases, but Republicans are pushing to keep it in place.
If House Republicans push for the removal of the ban, they would be the first in the country to do so since the last time the House voted to lift it, in December 2009.
They would also be the only one to vote against it in the last Congress.
The House on Tuesday voted 223-205 to repeal the ban.
The move, which the Trump White House and many in the White House have said would lead to more homebuyers buying larger houses, is likely to draw the ire of both houses’ own members.
The White House, for example, has accused Democrats of seeking to make a political statement by supporting the ban in the face of mounting evidence that it is a financial burden for most Americans.
“The White Houses position is that we should not take steps to allow new homebuyer purchasing,” said a White House spokesperson, speaking on condition of anonymity to discuss an internal White House discussion.
“It’s an irresponsible and politically motivated position that will only encourage more people to purchase in the future.”
We continue to fight for the continued prohibition of new home sales,” the spokesperson said.”
If the White Houses decision to lift this ban is confirmed, it would be a big win for the American taxpayer and taxpayers will save $1 trillion in mortgage costs and will make it more affordable for Americans to purchase a new home.
“But the House should also take steps immediately to ease the burden of the moratorium on new homes by increasing the number of homes that can be purchased each year and by moving forward with a tax credit that would incentivize people to buy a home, as well as a housing tax credit and tax deduction that would encourage people to stay in their homes.”
House Democrats are pushing the House to remove the ban after years of arguing that the country’s housing market is in dire straits.
A report last month by the Congressional Budget Office found that home prices are in the midst of a long-term decline, and that the number one reason for the decline is a dearth of homebuyering and the increased costs associated with relocating to the suburbs.
The report also found that the majority of Americans currently rent.
According to the Congressional Research Service, the number and rate of new homes sold each year has declined from 2.8 million in 2014 to 2.1 million in 2020.
The rate of sales per person has also decreased, from 17.5% in 2014 (the peak) to 14.1% in 2020 (the current low).