‘Aggressive housing reform’ coming soon, Trump says
The president teased plans for bold reform in 2026. Plus, legislators unveil bipartisan housing package; Fed reappoints regional bank presidents; more.
Key points:
- President Donald Trump said he will soon introduce plans for housing reform, though the details and timing are murky.
- As Trump considers who to pick as the next Fed chair, the central bank has reappointed 11 of its 12 regional bank presidents.
- In Congress, senators confirmed new housing leaders at HUD, and a House committee advanced a new bipartisan housing package.
- Also at HUD, an investigation into alleged discriminatory housing practices launches in Boston. Local leaders have denied Fair Housing Act violations.
President Donald Trump said he is eyeing major housing reform in 2026 — though the details and timeline are not yet clear.
On Capitol Hill, legislators in the House of Representatives introduced a bipartisan housing package, and the Senate confirmed new housing leaders at the Department of Housing and Urban Development (HUD).
Elsewhere in Washington, D.C., the Federal Reserve reappointed 11 of 12 regional bank presidents and HUD announced an investigation into fair housing practices in Boston.
Historic housing reform?
During a Dec. 17 speech at the White House, Trump said he is preparing to take a new approach to housing.
"In the new year, I will announce some of the most aggressive housing reform plans in American history," Trump said. The president did not provide any specifics about what those plans will entail or exactly when they will be introduced.
The declaration was sandwiched between comments about picking a new Fed chair and Trump's allegation that a "colossal border invasion" occurred under his predecessor, an apparent reference to a recent HUD report. That "invasion" was "a major factor in driving up housing costs," Trump claimed.
Fed reappoints regional presidents
On Dec. 11, the Fed announced that 11 of 12 regional bank presidents were reappointed to five-year terms slated to start on March 1. The only regional president who won't return is Atlanta Fed President Raphael Bostic, who is retiring after his term ends in February.
The reappointments will provide the Fed with some stability as the central bank prepares to welcome a new chair in May. Trump has indicated that there are two frontrunners — former Fed Gov. Kevin Warsh and National Economic Council Director Kevin Hassett — in the race to replace sitting Fed Chair Jerome Powell, though senior administration officials told CNBC that Fed Gov. Christopher Waller also had a "strong interview" with the president.
Housing leaders confirmed
The Senate has confirmed several housing leadership appointments, HUD announced this week. The appointments include:
Federal Housing Administration: Frank Cassidy, assistant secretary for housing and federal housing commissioner
Government National Mortgage Association (Ginnie Mae): Joseph Gormley, president
Public and Indian Housing: Benjamin Hobbs, assistant secretary
Community Planning and Development: Ronald Kurtz, assistant secretary
Fair Housing and Equal Opportunity: Craig Trainor, assistant secretary
Congressional and Intergovernmental Relations: Benjamin DeMarzo, assistant secretary
Office of General Counsel: David Woll, general counsel
Each official has already been "delivering results, strengthening accountability, and advancing HUD's mission," HUD Secretary Scott Turner said in a news release. "These nominees are focused on supporting housing opportunities and improving affordability for the American people."
HUD investigation launched in Boston
Earlier this month, HUD announced an investigation into fair housing practices in Boston. In a Dec. 11 letter, the now-confirmed Trainor wrote that the city "has developed and intends to implement discriminatory housing policies in violation of the Fair Housing Act."
The allegations, which the mayor of Boston and governor of Massachusetts have denied, are based on HUD's belief that the city "has engaged in a social engineering project that intentionally advances discriminatory housing policies driven by an ideological commitment to DEI rather than merit or need," Turner said.
Legislators unveil bipartisan housing package
After the Renewing Opportunity in the American Dream (ROAD) to Housing Act lost its spot in the annual National Defense Authorization Act (NDAA), members of Congress introduced the Housing for the 21st Century Act, a new bipartisan housing package.
The legislation aims to "streamline housing development and affordability by updating outdated programs, removing regulatory roadblocks and increasing local flexibility," according to the House Committee on Financial Services.
The legislation advanced out of committee on Dec. 17.