U.S. Treasury Secretary Scott Bessent signaled Monday that President Donald Trump may declare a national housing emergency as early as this fall, as the administration prepares sweeping measures to tackle surging housing costs and limited supply across the country.
Calling the crisis an “all hands on deck” challenge, Bessent told Reuters that the administration is weighing aggressive action to ease pressure on American families — many of whom are locked out of the market due to rising rates and record home prices.
“The President is deeply concerned about the cost of living for everyday Americans, and housing is right at the top of that list,” Bessent told the Washington Examiner. “We are reviewing every option on the table — including emergency declarations — to bring relief to working families.”
Declaring an Emergency
The potential declaration of a national housing emergency would give the Trump administration broader authority to streamline construction, cut red tape, and flood the market with affordable housing options. Officials say the move could also unleash federal support for first-time homebuyers and renters facing eviction or unaffordable leases.
The announcement would be paired with a fresh slate of executive actions aimed at reducing permitting delays, encouraging building standardization, and easing zoning barriers that have throttled new development in high-demand regions.
Relief Already Underway
Bessent noted that rents have already started to drop, a trend he credited in part to the Trump administration’s deregulatory push and efforts to stabilize inflation. He added that once the Federal Reserve begins to lower interest rates, the housing market could see a spike in sales activity — particularly among homeowners who have been reluctant to sell due to previously locked-in low mortgage rates.
“We expect to see mobility return to the market,” Bessent said. “And when that happens, supply will begin to loosen up and prices will start to correct.”
Prescription for Affordability
The Treasury secretary also compared the administration’s housing push to Trump’s successful campaign to lower prescription drug prices — another key plank of his second-term domestic agenda.
“Affordability is the mission,” Bessent said. “Just as we’ve driven down the cost of essential medicines, we’re going to restore housing access for working Americans — not just the wealthy or the well-connected.”
Trump’s push to declare a housing emergency marks a sharp contrast with the Biden administration’s failure to address skyrocketing prices during its term. With construction stagnating and home ownership at a generational low, the Trump White House is preparing a bold reset — and millions of Americans could soon feel the relief.
The post Bessent: Trump May Declare National Housing Emergency appeared first on Real News Now.
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