Summary
President Donald Trump urged mortgage finance companies Fannie Mae and Freddie Mac to encourage homebuilders to start new construction projects. He highlighted that homebuilders have millions of vacant lots available but are not building. Data shows most vacant lots are in major U.S. cities like Dallas, Fort Worth, and Los Angeles.
Key Facts
- President Trump asked Fannie Mae and Freddie Mac to motivate homebuilders to use vacant lots for new homes.
- He stated there are 2 million empty lots available for building.
- CommercialCafe data identifies Dallas as having the most vacant land in U.S. cities.
- Other cities with significant vacant land include Fort Worth, Phoenix, San Antonio, Houston, and Los Angeles.
- Texas and the South saw a construction boom, but permitting slowed after peak years in 2021 and 2022.
- In 2024, the U.S. had a housing supply gap of 3.8 million homes, with the South having the largest shortage.
- Homebuilders face challenges like financing difficulties, despite having land available.
