The administration of President Donald Trump could declare a state of emergency in the United States housing sector this fall, said US Treasury Secretary Scott Besant.
“We are trying to find solutions, but we don’t want to directly interfere with the jurisdictions of states, counties, and local governments,” Besant told the Washington Examiner.
According to him, housing affordability will be one of the key issues of the Republican campaign for the 2026 elections.
Besant did not mention specific measures that Trump plans to take, but he noted that the White House is considering standardizing local building and zoning regulations, as well as reducing the costs of purchase and sale agreements, Bloomberg reports.
Donald Trump has already used emergency powers to bypass Congress, especially when introducing higher import tariffs, which was met with resistance in US federal courts. Now he is once again considering a similar solution to ease the crisis on the US real estate market.
High interest rates, which Trump often criticizes in his attacks on the Federal Reserve, have further burdened buyers and worsened the market situation.
The coronavirus pandemic has further increased inequalities in the housing market and raised rental costs, and potential buyers are finding it increasingly difficult to acquire their own homes.
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Source: Tanjug; Foto: EPA-EFE / JIM LO SCALZO