Bessent says Trump administration will tackle high housing costs with new measures

[Zorro]

Source: Reuters via Yahoo Finance

President Donald Trump's administration plans new measures to tackle the high cost of housing in the coming weeks, U.S. Treasury Secretary Scott Bessent told Reuters in an interview on Monday.

Emphasizing the urgency of the situation, Bessent described it as an "all hands on deck" challenge.

Bessent told the Washington Examiner in a separate interview that Trump may declare a national housing emergency this fall to address rising prices and dwindling supply.

The housing market has been hardest hit by the U.S. central bank's tight monetary policy stance and high housing costs are a top concern for many Americans.

https://finance.yahoo.com/news/bessent-says-trump-administration-tackle-205720415.html

Read more: https://finance.yahoo.com/news/bessent-says-trump-administration-tackle-205720415.html

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Coming up next: a "housing emergency" declaration to justify actions this administration is contemplating (forcing the fed to lower interest rates, etc...).

[Turbineguy]

1. They'll collapse the economy.

[Irish_Dem]

2. Yep and it won't help the housing market.

[bucolic_frolic]

3. They'll plunder all timber in parks and federal lands

Meanwhile, they should be renovating older homes with loans and not building McMansions. Unless they want Housing Crisis II.

[underpants]

4. While putting tariffs on Canadian lumber.

[Farmer-Rick]

5. Time to confiscate your homes.

Got to take your property to give it to needy billionaires. Got to get those prices under control. How very socialist.

[NCDem47]

6. No vacancies for blacks

Yeah...he's a real champion for fair and affordable housing.

How Donald Trump
Got His Start, and Was First Accused of Bias

"Over the next decade, as Donald J. Trump assumed an increasingly prominent role
in the business, the company’s practice of turning away potential black tenants
was painstakingly documented by activists and organizations that viewed equal
housing as the next frontier in the civil rights struggle.

The Justice Department undertook its own investigation and, in 1973, sued Trump
Management for discriminating against blacks. Both Fred Trump, the company’s
chairman, and Donald Trump, its president, were named as defendants. It was
front-page news, and for Donald, amounted to his debut in the public eye."

[ananda]

7. What? Tent cities called Trumpville?

Sheesh

[LastLiberal in PalmSprings]

8. He won't force the Fed to lower interest rates.

He'll eliminate the entire agency and place total control of its functions under his direct control.

Can a nation's credit rating be negative?

[Dem2theMax]

9. Their only 'plans' are to talk about it,

say it's going to be done in two weeks,
carry around a folder that they wave in the air in front of reporters, saying all the plans are in the folder, when it's actually empty.

There, they've solved the high housing costs crisis.



And his followers will believe him.

[WestMichRad]

10. This, exactly.

Just like infrastructure week, or the new master plan for health care. (Forever) “coming soon” to a theatre near you!

[groundloop]

13. He's considering thinking about forming a concept of a plan

[Yo_Mama_Been_Loggin]

14. Like they did infrastructure the last term

They'll declare a week "Housing Week" and not do shit.

[Nigrum Cattus]

11. Nothing, except an economic crisis will bring down prices

https://ycharts.com/indicators/us_median_price_for_existing_single_family_home

[marble falls]

12. The supply is there, it's being held to drive prices up.

[lonely bird]

15. There are housing crises

All over the world.

London, Sao Paola, Shanghai…

Asset prices are high. Asset prices will remain high. Dropping rates won’t drop prices. It will drop mortgage monthly payments but not a truly significant amount. Building more will drop rents but not a truly significant amount.

Builders build for several reasons…

What wealth wants (higher profits)
“Hot” areas with amenities easily accessible
Many times near large medical centers and/or education centers (Ed’s and Meds) done because cities are scrambling to replace manufacturing that has been lost particularly in the Rust Belt

And it will hammer low income people usually Black/Latino for gentrification. See University Circle area in Cleveland near University Hospitals, Cleveland Clinic and Case Western Reserve University.

[eppur_se_muova]

16. So, expect housing prices to go up substantially ... nt