Treasury Secretary Scott Bessent said on September 1, 2025, that the Trump administration is considering declaring a national housing emergency this fall in the United States, a move being weighed as the White House spotlights voter concerns ahead of the midterm elections while seeking to avoid overruling state and local authorities.
Key Takeaways
- Treasury Secretary Scott Bessent said a national housing emergency is under consideration for this fall.
- The White House aims to prioritize housing as a midterm campaign issue.
- Officials are assessing options that do not encroach on state, county, or municipal powers.
- No final decision or implementation timeline has been announced.
- Specific legal authorities and policy tools that could be used remain unspecified.
- Markets and housing stakeholders are watching for clarity on scope, funding, and duration.
Verified Facts
Bessent disclosed the possibility of an emergency declaration in comments published September 1, 2025, referencing the fall timeframe for any action.
He emphasized the administration is exploring what it can do on housing without intruding on state and local jurisdictions.
The remarks were reported by Bloomberg, citing an interview Bessent gave to the Washington Examiner.
is the Bloomberg publication time associated with the report.
Context & Impact
Housing affordability and supply constraints have been persistent challenges across the U.S., driven by shortages of new construction in many regions, zoning and permitting bottlenecks, and elevated costs for builders and buyers. Federal action framed as an emergency could signal a push to accelerate supply, reduce bottlenecks, or deploy targeted financial support.
Declaring a national emergency under the National Emergencies Act can unlock specific standby authorities already authorized by Congress. The exact tools relevant to housing would depend on how any declaration is structured and which statutes the White House activates.
Depending on the design, an emergency declaration could influence federal land use, permitting coordination, disaster-recovery style funding, or credit enhancements. It could also prompt state and local participation through voluntary compacts rather than mandates, consistent with Bessent’s stated deference to local control.
Official Statements
“We may declare a national housing emergency in the fall,” Bessent said, adding the administration is working to avoid stepping into state and local governments’ business.
Scott Bessent, U.S. Treasury Secretary, via Washington Examiner
Unconfirmed
- Which statutes or authorities the White House would invoke under an emergency declaration.
- Whether new funding, tax credits, or loan guarantees would be included.
- The precise start date, duration, and geographic scope of any declaration.
- How the administration would coordinate with state and local governments on zoning or permitting.
Bottom Line
The administration is weighing an extraordinary step to address housing pressures while signaling deference to state and local roles. Until a formal announcement clarifies authorities and measures, the market impact remains uncertain, but the signal alone elevates housing to a central policy issue ahead of the midterms.