President Trump Considers National Housing Emergency Amid Rising Costs
President Trump is considering declaring a national housing emergency this fall to combat rising housing costs and stimulate economic growth, with Treasury Secretary Scott Bessent suggesting various solutions.
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Overview
- President Trump is exploring the declaration of a national housing emergency this fall to address escalating housing costs and boost economic growth.
- Treasury Secretary Scott Bessent supports this initiative, suggesting options like standardizing zoning codes and lowering closing costs to improve affordability.
- Trump is emphasizing housing affordability as a central theme for the Republican 2026 midterm platform, potentially using the emergency declaration.
- Bessent expressed optimism for significant economic improvement in 2026, which could be further supported by a national housing emergency declaration.
- The President's consideration stems from concerns about Federal Reserve Chair Jerome Powell's influence on the housing industry and a push for lower interest rates.
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FAQ
The administration is exploring options such as standardizing zoning codes, lowering closing costs, and granting tariff exemptions for construction materials to improve housing affordability and expand supply.
President Trump is motivated by rising housing costs, dwindling supply, and concerns about Federal Reserve Chair Jerome Powell's influence on the housing industry, aiming also to boost economic growth and emphasize housing affordability for the 2026 midterm Republican platform.
The last national housing emergency was declared during the Great Recession, around 2008, when housing prices collapsed, leading to economic fallout.
Housing affordability is being positioned as a central theme of the Republican platform for 2026, and the emergency declaration could serve as a key pillar to appeal to voters concerned about housing costs.
Treasury Secretary Scott Bessent expressed optimism, predicting a significant economic pickup in 2026, supported by potential Federal Reserve rate cuts and reciprocal tariffs, which could be further aided by a national housing emergency declaration.
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