President Donald Trump may declare a national housing emergency this fall, said Treasury Secretary Scott Bessent.

The move would tee up housing affordability as a key issue ahead of the 2026 midterm elections, which appear to be top of mind for the Trump Administration as redistricting fights play out in several states . It would be the first national emergency related to housing declared since the collapse of the housing bubble drove the U.S. into the 2008 financial crisis.

“We may declare a national housing emergency in the fall,” Bessent told the Washington Examiner on Monday.

“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,” Bessent said. “I think everything is on the table.”

Here’s what

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