Stephen Ross, founder of Related Companies and developer of the $25bn Hudson Yards project, has criticized Donald Trump's housing affordability efforts as insufficient. The billionaire real estate mogul, who has donated to Republicans, said the administration's initiatives fail to address the core issue of rising construction costs.

Trump's administration has attempted to tackle the housing shortage through measures including a ban on institutional investors buying single-family homes and a $200bn mortgage bond-buying program. However, Ross argues these steps don't go far enough. He specifically blames union labor requirements, claiming they drive up housing costs compared to non-union workers.

Ross's new development in Florida's West Palm Beach includes luxury condominiums and mixed-income housing, aiming to transform the area into a luxury hotspot. He contends that state requirements mandating union wages for subsidized housing projects increase construction expenses. While Ross sees union labor as a key obstacle, analysts dispute this view, noting that only around 11 percent of private-sector construction workers belong to unions, according to Bureau of Labor Statistics data from 2025.