The Trump administration is contemplating emergency measures to tackle the national housing affordability crisis, with Treasury Secretary Scott Bessent indicating the possibility of a national housing emergency declaration in the near future.
The administration is exploring strategies to address high closing costs and standardize building and zoning codes across the country. Despite the urgency to alleviate housing challenges, the effectiveness and legality of emergency measures remain uncertain.
FULL STORY: Trump Considers Declaring National Housing Emergency This Fall
Key takeaways
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Treasury Secretary Scott Bessent suggests a potential national housing emergency declaration to combat the housing affordability crisis.
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The administration is evaluating ways to reduce closing costs and create consistent building and zoning codes nationwide.
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The discussion on emergency measures arises as Americans struggle with housing affordability, with home affordability at a 40-year low and nearly half of renter households burdened by high rent costs.
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Realtor.com® Senior Economist Joel Berner proposes streamlining the homebuilding permitting process and reducing restrictions to enhance housing supply, particularly in regulated, high-cost regions.
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The National Association of Realtors® is prepared to collaborate with the government to implement targeted reforms that increase housing inventory and improve affordability if a national emergency is declared.
This summary has been generated with AI tools and edited by Realtor.com News & Insights editors. The full story, written and edited by Realtor.com News & Insights newsroom journalists, is linked at the top of the summary.