Trump says he's 'not a huge fan' of 401(k) withdrawal plan for homebuyers' down payments

Group 1: Proposal Overview - The Trump administration is developing a proposal that would allow prospective homebuyers to withdraw from their 401(k) retirement accounts for a down payment on a home [1][5] - National Economic Council Director Kevin Hassett indicated that the typical monthly payment for homebuyers has doubled, and the required down payment has increased from approximately $15,000 to $32,000 [6][8] Group 2: President's Position - President Trump expressed his disapproval of the 401(k) withdrawal proposal, stating he prefers to keep 401(k) accounts intact due to their strong performance, which has seen increases of 80%-90% [2][3] - Trump emphasized the importance of maintaining the health of 401(k) accounts over using them for home down payments, noting that many individuals report significant gains [3] Group 3: Broader Economic Context - The administration's affordability agenda includes a proposal to cap credit card interest rates at 10% for one year, addressing rising credit card debt as a barrier for Americans saving for down payments [9][12] - Trump's plan to restrict institutional investors from purchasing homes is aimed at addressing rising housing prices, which he claims is unfair to the public [12][14]