Trump Administration Considers National Housing Emergency Amid Rising Costs

The Trump administration is contemplating the declaration of a national housing emergency this autumn, as indicated by the Treasury Secretary. This consideration comes at a time when the White House is focusing on key issues to engage voters ahead of the midterm elections. The administration is exploring methods to standardize local building and zoning regulations, as well as reduce transaction completion costs, without interfering with state, county, and local governments.

The housing affordability crisis has been exacerbated by the COVID-19 pandemic, driving up rental costs and imposing high-interest rate burdens on potential and new homebuyers. The administration is looking into various methods to increase housing supply and address the rising costs. The Secretary mentioned that the government is directly studying ways to standardize local building and zoning regulations, which could help alleviate some of the pressures on the housing market.

The declaration of a national housing emergency would not be the first time the Trump administration has used emergency powers to bypass congressional approval. Previous actions, such as implementing tariff policies under emergency status, have faced legal challenges in federal courts. The administration has also criticized the Federal Reserve for high-interest rates, claiming they increase government borrowing costs and harm the real estate market.

The Secretary did not provide specific details on the actions the President might take but highlighted that housing affordability will be a central theme in the Republican Party's 2026 midterm election platform. The administration is actively researching methods to standardize local building and zoning regulations, which could help address some of the challenges in the housing market.