Party Change Politics

One reason outgoing Presidents sign so many executive orders in the waning days of their Presidencies when the other party will be taking over is to be able to generate headlines just like the one below on millennial news website Quartz when the new President predictably reverses them:

On his first day as president, Donald Trump charged millions of new homeowners an extra $500 a year

But, read the second paragraph (bold mine):

Among Trump’s first actions as president was sending an emergency order (pdf) to US lenders and real estate agents that increased the amount of money first-time home buyers and low-income borrowers must pay to get a mortgage. The move reverses a decision by the Obama administration earlier this month to cut the cost of federal mortgage insurance by 0.25%, enough to save the average borrower $446 a year.

Trump reversed a decision Obama made earlier THIS month.

By the way, there are simple ways for first time home buyers to reduce, or eliminate, the cost of mortgage insurance: save enough for a down payment and buy an affordable home. They can also choose to rent.

If anyone recalls (millennials may be too young to remember), the 00’s were all about lowering the cost to buy a home to encourage more people to do it, even people who may not be in a financial position to carry the risks involved with owning a home.

That didn’t end well, especially for the very people Obama’s decision was meant to help.



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