"Amid a historic low in first-time homebuyers, President Donald Trump has expressed a commitment to affordable homeownership, sparking hope for struggling buyers. The potential declaration of a national housing emergency could bring about significant changes to aid first-time buyers facing affordability challenges. Here are five ways emergency powers could potentially assist first-time buyers: Freeing up federal land for housing: Releasing federal land for home construction could alleviate housing shortages, particularly in the West and Southwest."
"Pressure to reform local zoning: Encouraging reform in local zoning laws to allow for more affordable housing types could increase inventory in high-demand areas. Lowering closing costs: Federal interventions, such as fee waivers or subsidies, could help reduce the upfront cash needed to close a home purchase. (Maybe) lower mortgage rates: Political pressure on the Federal Reserve could potentially lead to lower mortgage rates, aiding buyers in securing loan"
President Donald Trump has expressed a commitment to affordable homeownership amid a historic low in first-time homebuyers. A potential national housing emergency could trigger federal emergency powers to address affordability challenges for first-time buyers. Measures could include releasing federal land for home construction to ease shortages, particularly in the West and Southwest. The federal government could pressure localities to reform zoning to allow more affordable housing types and increase inventory in high-demand markets. Federal actions could lower upfront closing costs through fee waivers or subsidies. Political pressure on the Federal Reserve could aim to reduce mortgage rates and improve loan access for buyers.
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