Would Trump's housing emergency be a game-changer'?

"When you have a housing shortage and a supply issue, it pushes up valuations, which pushes up your property taxes, because your valuation goes up. It pushes up home insurance premiums because the value of your home is more expensive if there was some kind of a claim, Flood explained. Flood believes that by putting his thumb on the scale, Trump would be able to change the whole conversation surrounding housing affordability."

"Those discussions are being had, not just from an emergency declaration standpoint, but what can we do in order to bring the costs down and bring the supply up, Turner said in a statement. Flood said that his panel is currently working on bipartisan legislation designed to make housing more affordable. The legislation is expected in later this fall. He is optimistic that legislators will have something finalized by early next summer."

"According to Flood, it will take a joint effort from federal, state and local governments to improve housing affordability. While affordability measures like boosting homebuilding efforts, removing tax barriers and lowering costs for things like mortgage insurance can be undertaken at the federal level, regulations including zoning restrictions are governed at the state and local level. This means that any meaningful change to improve housing affordability will require effort from all levels of government."

Housing shortages and supply constraints increase property valuations, which in turn raise property taxes and home insurance premiums. Policymakers are considering both emergency measures and longer-term actions to lower costs and increase housing supply. A bipartisan legislative package aimed at improving housing affordability is being developed, with expectations for introduction later this fall and potential finalization by early next summer. Meaningful improvements will require coordinated efforts across federal, state, and local governments, including boosting homebuilding, removing tax barriers, lowering mortgage insurance costs, and reforming zoning and other local regulations.

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