The secretary of the Treasury Bessen made the crisis of the affordability of housing an absolute priority
The American secretary of the Treasury, Scott Bessent, in a vast interview on “ Mornings with Maria ”, weighs on the meeting of President Donald Trump with Vladimir Putin, updates the American trade discussions and the solutions of crisis of the affordability of housing.
The Treasury Secretary, Scott Bessent, said on Thursday that one of his main priorities would be addressed to the crisis in the affordability of American housing.
“We are going to really work on this crisis in the affordability of housing. This is one of my big projects for the fall,” said Bessent to Maria Bartiromo de Fox Business during an interview The “morning with Maria”.
Bessent said that the White House explores how to monetize Fannie Mae and Freddie Mac, which could involve selling all or part of the government’s participation in companies. Fannie Mae and Freddie Mac play an essential role in the domestic financing industry and have been under federal supervision since the 2008 financial crisis.
The Treasury Secretary, Scott Bessent, said on Thursday that one of his main priorities would be addressed to the crisis in the affordability of American housing. (Reuters / Elizabeth Frantz / Reuters)
The housing crisis deepens as 47 metropolitan zones now require household buyers to spend more than 30% of income
Bessent said that the administration is considering how to obtain the best value for taxpayers with regard to Fannie MAE and Freddie Mac, and how to prevent mortgage rates from the increase – or lower them – in order to correct the crisis of persistent affordability.
The Treasury Secretary, Scott Bessent, said that the administration plans to get the best value for taxpayers with regard to Fannie Mae and Freddie Mac (Robyn Beck / AFP via Getty Images / Getty Images)
The housing crisis, on the other hand, only deepens high prices of houses and high interest rates reducing the purchase of houses at its lowest level since the mid -1990s, according to the annual report on the state of housing in the country of the joint center for Housing Studies (JCHS) of Harvard University.
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To exacerbate problems, the owners are also faced with higher insurance premiums and land taxes. The exorbitant rent also left “more people than ever, and contributed to a sharp increase in roaming”, according to the report.
The housing crisis, on the other hand, is only deepening with high prices of houses and high interest rates reducing the purchase of houses at its lowest level since the mid -1990s. (Photographer: Tierney L. Cross / Bloomberg via Getty Images / Getty Images)
Real estate transactions tend to peak from May to August, June being historically the busiest month, according to experts from the housing industry. But during this summer season, the activity remained “slow” for existing houses and news, according to Realtor.com’s main economist, Joel Berner.
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While some house buyers who were relegated to the sidelines by high funding costs received encouragement last week, Berner said that it could take a little more time to recover more in the game.
Real estate transactions tend to peak from May to August, June being historically the busiest month, according to experts from the housing industry. (Paul Morris / Bloomberg via Getty Images / Getty Images)
“The decisions of the federal reserve next month could have a major impact on the housing market, but this Fed has proven to be cautious in terms of rate reduction, it will therefore take more positive news on the inflation front to inspire them to reduce interest rates,” said Berner.
