Trump May Declare Emergency Over Housing Affordability

U.S. Treasury Secretary Scott Bessent says President Trump is considering declaring a national housing emergency to address the growing affordability crisis that is keeping home ownership out of reach for millions of Americans.

Bessent told the Washington Examiner that the announcement could come as early as this fall in an “all hands on deck” effort to deal with skyrocketing home prices and a dwindling supply of housing.

The emergency declaration would open the door to easing tariffs and regulation, prioritizing the allocation of building materials like lumber and steel, and standardizing building codes across the nation to lower costs and simplify permitting to reduce the time needed for construction.