US contractor says Trump’s administration will make it harder to buy real estate in 2019
A US contractor has told The Washington Posts that the Trump administration is working on making it harder for buyers to buy land in 2019.
In a letter obtained by The Washington Times, Eric Epps, a vice president at a firm called Landline Property Consultants, told a Senate subcommittee that he had spoken with people who are “under contract” to the Trump White House and were told that the administration was “actively considering” restrictions to the purchase of real estate, such as the sale of existing homes.
The Trump administration “is actively considering the possibility of requiring that the purchaser must have a substantial down payment or be able to show financial assets of less than $250,000 to qualify for the sale,” Epps wrote.
The letter, obtained by the Washington Post, is the first sign that Trump administration officials are seriously considering the move.
“I have been informed by my superiors that the federal government is looking at restricting or prohibiting the purchase and sale of property,” Epps wrote.
“The sale of the homes would require the buyer to demonstrate substantial down payments, but would not require the purchaser to have assets in excess of $250.00.”
Epps said that the White House is “actively pursuing the possibility” of prohibiting the sale and sale for a buyer who is not able to pay for a down payment.
The Federal Housing Finance Agency (FHFA), the agency that oversees Fannie Mae and Freddie Mac, is also exploring the sale restriction, Epps said.
He also told the subcommittee that the president and his son-in-law Jared Kushner, a senior adviser to the president, “are working closely” with the FHFA to explore the possibility.
“There is a lot of speculation out there that we’re looking at a restriction on the sale for individuals who don’t have the funds to purchase a home and are unwilling to go through the normal channels,” Ekins said.
“We have no such restriction in place at the FHA.
I have been advised that we are actively working on this matter and are exploring this with all relevant agencies.”
The FHRA declined to comment.
In an email to The Washington Examiner, a spokesman for the Fhfa said: “We are not in a position to comment on this.
We have been working closely with the federal housing agencies on the acquisition of properties.
We are working to protect all of our properties from these restrictions.”
In the letter, Eppson said that he has been working with the administration for a number of months to “address the concerns” of potential purchasers.
He wrote that he believes the Feds “have not taken any measures that would be inconsistent with our longstanding practice of protecting property from potential purchaser restrictions.”
He said he has also been working to “build a consensus around the need to preserve the ability of all taxpayers to purchase their own home and to protect taxpayers from the negative impacts of these restrictions on the purchase process.”
Epps also said that while he has “no personal investment interests in the properties” being reviewed, he has had “a direct financial impact on them” because he is selling them.
“It has taken a tremendous toll on my life, and I am working to find ways to support myself,” he wrote.
Epps also wrote that “the federal government has the power to restrict or prohibit the sale” of property.
“If the government were to take such a position, I believe that the potential purchaser would not be able and unwilling to purchase.”
He added that the restrictions could affect the ability to purchase property, as the purchase price could be adjusted to reflect the sale.
“The only way the government would be able, would be if the sale price were increased to reflect it’s actual market value,” he said.
Epps also said he “will continue to work on this issue with all appropriate agencies, as it pertains to the administration’s ability to protect our property and taxpayers from these potential restrictions.”
Eppss said he would not provide more details about the restrictions.
In a statement, the Fhr agency said: In the past, we have made clear to the White Houses, HUD and FHSA that any attempt to restrict the sale process would be viewed with great concern.
We believe that our policy on this is consistent with the principles of open government and in line with our responsibilities under the Federal Advisory Committee Act.
“In our ongoing work with the Federal Housing Advisors, we work with a wide range of federal agencies and government entities to ensure the orderly and fair conduct of the marketplace.
As such, we will not be providing any further comment on the specifics of this case.
The federal government’s ability and obligation to protect property rights, including property ownership, is a core pillar of our Federal Advisory Council responsibilities.
We work diligently to ensure that our programs are transparent, responsive, and equitable.
In light of the ongoing