Treasury Secretary Scott Bessent has said that the Trump administration is considering declaring a national housing emergency as early as this fall in an interview with the Washington Examiner.
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The announcement comes as mortgage rates across the country remain elevated while housing prices hover near all-time highs, driving out potential buyers in the process. The U.S. hasn’t declared a national housing emergency since the 2008 financial crisis—which was driven by mortgage defaults and foreclosures—offering a stark outlook on today’s housing environment.
Trump Eyes Housing Affordability to Elevate 2026 Midterm Support
Bessent added that housing affordability will be a top priority for Republicans during the 2026 midterm elections, explaining that lower interest rates could help achieve this goal. Trump is also considering other actions, such as exempting some construction materials from tariffs.
“We’re trying to figure out what we can do, and we don’t want to step into the business of states, counties, and municipal governments,” said Bessent. “I think everything is on the table.”
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