Summary
President Donald Trump's administration is planning to let Americans use money from their 401(k) retirement accounts to help with down payments on houses. This plan, which aims to make it easier to buy a home, will be shared by President Trump at the Davos economic forum.
Key Facts
- The plan involves using 401(k) retirement funds for home down payments.
- Kevin Hassett, Director of the National Economic Council, announced this plan.
- President Trump will reveal more details at the Davos economic forum.
- The administration aims to help people buy homes as costs have increased.
- The typical down payment needed for a home has risen from $15,000 to about $32,000.
- The change is part of several policies aimed at addressing housing affordability.
