No matter what dictionary you consult, the definition of “emergency” is never “a chronic situation that the leader of a country would like to address using powers not otherwise available to him.” This, though, is how the Trump administration tends to define the term. Treasury Secretary Scott Bessent says that the administration is considering declaring a housing emergency, which would be its tenth emergency declaration at the national level, as well as the “crime emergency” in Washington, D.C.

There is no doubt that the nation is suffering an affordability crisis in housing, although this problem isn’t the result of exigent circumstances. Over time, we have chosen to constrict the supply of housing via a welter of zoning and environmental rules that make it hard to build.

Is this a trave

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