"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."
"Treasury Secretary Scott Bessent suggests a potential national housing emergency declaration to combat the housing affordability crisis. The administration is evaluating ways to reduce closing costs and create consistent building and zoning codes nationwide. 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."
Federal officials are weighing emergency authority to confront a deep national housing affordability shortfall, with Treasury Secretary Scott Bessent signaling a possible national housing emergency declaration. The administration is targeting high closing costs and inconsistent building and zoning codes as barriers to more housing supply. Proposals include standardizing codes nationwide and streamlining homebuilding permitting, while suggestions aim to reduce regulatory restrictions that slow construction. Home affordability sits at a 40-year low and nearly half of renter households are rent-burdened, raising urgency. Legal questions and doubt about the effectiveness of emergency measures remain.
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