We Need a Marshall Plan to Improve Housing Affordability

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Monday, November 24, 2025

The median age of all homebuyers is a record-breaking 59. First-time homebuyers average age 40, up from 29 in 1981. This is the result of not building enough houses and allowing too many people in our country, both legally and illegally.

We need big solutions to solve big problems. Some are calling for a Marshal Plan for housing. Many ideas are being floated to improve housing affordability.

50-year mortgages are a particularly bad idea for many reasons. The one positive would be lower monthly payments than a 30-year mortgage. But interest rates would likely be higher on a 50-year mortgage than a 30-year; similar to 15-year mortgage interest rates are typically lower than 30-year. This would eliminate most of the benefit of lower payments.

The American dream includes owning your own home, not renting an apartment.

This is a supply problem. Solutions:

1. There needs to be incentives to build affordable single-family homes.

2. Permit and infrastructure fees average 24% of the cost of the average home.

3. Deport illegal immigrants and fraudulent legal immigrants.

HB-1 visas are supposed to be for the rare "genius". No one would have an issue if a few HB-1 visas were needed to train Americans to build high-end computer chips. The reality is that HB-1 visas are currently about 750,000. About 80% take entry-level and junior-level jobs from Americans.

Some work visas do not require the company to pay payroll taxes. The foreign worker's job is typically tied to their job. If they lose their job, they have to go back home. This gives the company control over the employee. The company saves taxes, can pay the foreign employee less, and has more control. It is a form of indentured servitude.

The US Census counts illegals and the 55 million visa holders. This gives more seats in the House of Representatives and Electoral College votes. The majority of illegal immigrants and visa holders live in blue states. It is about political power.

Fewer people in the US would prefer the quickest method to increase affordability.