Billionaire real estate mogul Stephen Ross has said Donald Trump’s push to tackle housing affordability in the US is “not enough”, despite increasing efforts by the administration to address the problem.
Ross, who has made big donations to Republicans in the past, said in an interview with the FT that the issue of housing affordability is “going to be the biggest issue going forward”. He laid the blame on construction costs.
“[The government is] going to have to look and see, you know, how do you reduce costs?” said Ross, founder and non-executive chair of developer Related Companies, who is known for spearheading the $25bn Hudson Yards development in New York and is now betting on a multibillion-dollar project in Florida’s West Palm Beach.
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