Trump’s plan to sell a house for $1.7 million would cost about $40,000 a month, or more than twice what it would cost a typical renter to buy the home in 2016.
The president’s plan calls for building two separate luxury homes in each city, but neither of those homes is actually built yet, and neither is going to be ready for the market until 2019, at the earliest.
That’s because Trump’s proposal would force developers to build condos and apartments at the same time, while the government already allows developers to sell homes for as much as $1,750,000 without selling the whole property.
That means Trump’s new proposal would cost $10,000 less per month than a typical home buyer would pay to build two luxury homes, or about $6,000 per month more than a renter would pay.
But Trump is promising that the price will drop dramatically if the government allows developers and builders to build condo and apartment houses together in the same city.
“I don’t think we’re going to see any price drop at all,” Trump said at a recent event with his daughter Ivanka, and a spokesperson for Trump told The Hill that the proposal would be priced lower than the current price of a condo in the city that it would be built in.
That makes the price Trump wants to sell affordable for people like him, but it’s not exactly a deal that most buyers would find appealing.
The average price of an apartment in Washington, D.C. is currently $1 million.
The median price in New York City is $1 billion, according to the Real Estate Board of New York, while a typical condo is $2.5 million.
So even if the price of the house goes down a lot, that won’t mean the price for a typical American renter is going up, and that could be good news for those who have already put down roots in a city like Washington.
That would be true for people who are buying for the first time, or for people that have just bought a home in the suburbs, which means they might be more willing to pay a premium for a house in the nation’s capital.
And for some people, that may mean the prices they pay are more reasonable than those in their immediate area, especially for properties that are close to jobs.