In a bold move to address the escalating U.S. housing affordability crisis, Treasury Secretary Scott Bessent announced that President Trump is contemplating declaring a "national housing emergency" this fall. Speaking to the Washington Examiner , Bessent emphasized the administration's focus on tackling soaring home prices and limited inventory, a critical issue as the 2026 midterms approach. Potential actions include standardizing local building and zoning codes, reducing closing costs, and exploring tariff exemptions for construction materials to boost housing supply.