For one we are not at war, and for two, the president has a track record of being TACO at the moment. If you look at him without all MAGA filters, he is a businessman, who likes making deals and very much enjoyed spotlight for better or worse.
The sad part… i think, is these housing means very little to the real rich… so yeah, it is almost always middle class people got hurt by these jerk moves.
I think I read it from twitter that about 150m USD are parked in Irvine and Newport real estates by Zhejiang businessman alone, and some of them are moving money around this year so the houses for sale are increasing right now.
I went to an open house nearby in summer, the agent told me that owner of this house bought new in 2016 and only ever lived in there once for three months before COVID, then moved to Tokyo to avoid the virus. The owner has housing all over the world and never thought about putting the Irvine...
I would say most people living in 4m houses don’t need a job income… hence the median income is low because wealthy people just don’t need income to start with.