Treasury Secretary Scott Bessent hinted the Administration may declare a national housing emergency—but what could that realistically do for buyers and sellers? In this episode, Tim Lucas and Craig Berry unpack the affordability math, the supply paradox, and the tools an emergency might (and might not) unlock. You’ll learn:

• Affordability Reset: Why a $3,000/month budget bought ~$740K at 2.65% in early 2021 but only ~$480K at ~6.5% today
• Shortage vs. Surplus: A 4.7M-unit national shortfall alongside 9.2 months’ supply of unsold new homes—and how both can be true
• Cost Creep: Insurance premiums up ~20% (2020–2023) + rising utilities push monthly ownership costs higher
• What an “Emergency” Might Try: Speculative levers like building-code standardization, closing-cost relief, buyer tax credits/DPA, seller incentives (concessions, bridge-loan ideas), and tariff relief on materials
• Local Reality Check: Zoning/permits remain local—big federal moves would face legal headwinds; labor shortages add friction
• Why 2024 ≠ 2008: Then: too many homes, weak buyers. Now: too few affordable homes + rate lock-in trapping would-be sellers
• What to Watch Next: Any White House specifics, rate moves, and how states/localities respond—plus potential impacts on long-term market stability

Read the full article:
https://www.mortgageresearch.com/articles/trump-national-housing-emergency-more-housing-supply/