President Donald Trump on Thursday said he's "not a huge fan" of a proposal his administration is developing that would allow prospective homebuyers withdraw from their 401(k) retirement accounts for a down payment.
"I'm not a huge fan," Trump told reporters on Air Force One while preparing to return from his trip to the World Economic Forum in Davos, Switzerland. "Other people like it. They're talking about taking money out to put a deposit down on a home.
"One of the reasons I don't like it is that their 401(k)s are doing so well. You know, 401(k)s are up 80%-90% in some cases," the president said. "The housing market is good, but the 401(k)s are doing much better than the housing market.
"I like keeping their 401(k)s in great shape," Trump added. "I'm not a huge fan of putting down a deposit, I'm not. I'm so happy with the way 401(k)s are doing. We've got people telling me they're up 88% and over the period of a year, a full year. It's going to be, I mean, it's going to be close to 100%."