Speaking to the Washington Examiner on September 1, Department of the Treasury Secretary Scott Bessent floated the idea that President Donald Trump “…may declare a national housing emergency” in the fall.

Responding to questions about a relatively stagnant housing market and continued housing affordability challenges for owners and renters, Treasury Secretary Bessent explained, “We’re trying to figure out what we can do, and we don’t want to step into the business of states, counties, and municipal governments.”

As far as what a housing emergency could actually mean, Secretary Bessent said that “everything is on the table,” mentioning lowering interest rates, changing zoning laws, reducing closing costs, and creating some tariff exemptions.

Meanwhile, on the Hill, the Senate consideration of White House nominees for leadership posts at the Department of Housing and Urban Development continued throughout August into early September.

On August 1, the White House nominated Frank Cassidy to be Federal Housing Administration Commissioner and Assistant Secretary for Housing, overseeing HUD’s largest office. Mr. Cassidy has been at HUD since April as a principal deputy assistant secretary.

On September 4, the Senate Committee on Banking, Housing, and Urban Affairs held a hearing to consider the nominations of Ben Hobbs to be the next Assistant Secretary for HUD’s Office of Public and Indian Housing, which has oversight over the public housing and voucher programs, and Howard Kurtz as the next Assistant Secretary for HUD’s Office of Community Planning and Development, which has oversight over homeless assistance, Community Development Block Grants, the HOME program, and others. The Committee has not scheduled a vote on the nominees.