Treasury Minister Bessent makes reforming the crisis of ability to afford the costs of housing is a top priority

Treasury Secretary Scott bet On Thursday, one of his higher priorities is to address the crisis of the ability to afford US housing.

“We will really work on the ability to afford housing costs. This is one of my big projects to fall,” Pisent told Maria Bartopiromo during an interview. On “Morning with Maria”.

Pesin said that the White House explores how to invest the Fannie and Faridi Mac, which can include selling every government or government share in institutions. Fanny and Faridy Mac plays an important role in the home financing industry and have been under the supervision of the Federal Federation since the 2008 financial crisis.

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Pesin said that the administration is looking at how to get the best value of taxpayers when it comes to Fannie Mae and Freddie Mac, and how to maintain mortgage rates from height – or reduce them – in order to repair the ability to withstand costs.

Meanwhile, the housing crisis deepened only with the high prices of homes and the high interest rates, which reduces homes to its lowest level since the mid -1990s, according to the annual housing report at the Joint Center for Housing Studies (JCHS) at Harvard University.

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To worsen the issues, home owners and real estate owners also face Top insurance premiums And property taxes. The heavy rent also left “more than ever before, and has contributed to a sharp rise in homelessness,” according to the report.

Real estate transactions to the peak from May to August, with June being historically more crowded, according to housing industry experts. But during this summer season, the activity remained “slow” for current homes and new homes, according to the major economists, Joel Burner.

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While some home buyers who fell to the margin due to the high financing costs got some encouragement last week, Berner said it might take a little longer to restore more of them in the game.

“The federal reserve decisions next month can have a major impact on the housing market, but this federal reserve has proven that it has been warned when it comes to reducing prices, so it will take more positive news on the inflation front to inspire them to reduce interest rates,” Berner said.