Eric Yoo

Though the freeze memo was withdrawn, the broader executive orders behind the funding freeze remain in place. As a result, funding for certain areas remains paused and affordable housing programs could still be affected.

HUD is becoming increasingly aware of the burden that increasing insurance costs are placing on providers of affordable housing. Unlike their market-rate counterparts, these providers cannot pass increased costs on to tenants, leading some to reduce insurance coverage and delay repairs. These challenges exacerbate the housing supply shortage and threaten overall affordability.

Scott Turner, President Trump’s pick for HUD Secretary, recently shared his vision for tackling America’s housing crisis. Speaking to the Senate Committee on Banking, Housing, and Urban Affairs, Turner stressed the critical need to build millions of homes to provide affordable living options for families and individuals.

The Senate Finance Committee recently voted 16-11 to advance Scott Bessent’s nomination for U.S. Treasury Secretary. His nomination now heads to the Senate floor, where a final confirmation vote is expected in the coming days.