US President Donald Trump on Wednesday cancelled the signing of a bipartisan housing bill designed to accelerate the construction of affordable homes, saying he would not proceed until Congress passes the SAVE AMERICA ACT, which he described as a national emergency. The decision halted what would have been a rare legislative victory backed by both Republicans and Democrats, despite the measure having already cleared both chambers of Congress by overwhelming margins.“Today’s Housing News Conference and Signing is hereby cancelled until such time as we pass the desperately needed SAVE America Act, which I consider to be a National Emergency,” Trump said in a post on Truth Social.The legislation had been scheduled for signing after securing broad bipartisan support in Washington. The House of Representatives approved the bill on Tuesday by a vote of 358-32, following its passage in the Senate on Monday by 85-5. Such levels of cross-party backing have become increasingly uncommon in a deeply polarised Congress.The bill seeks to address the United States’ housing affordability crisis by removing some regulatory hurdles to residential development. Its key provisions include waiving or accelerating environmental reviews for housing projects and limiting the number of existing single-family homes that large Wall Street investors can own.Supporters argue the measures could help ease a nationwide shortage of affordable housing that industry groups estimate runs into the millions of homes.The debate comes as housing costs remain a major concern for American voters. Rising prices, elevated mortgage rates and persistent supply chain disruptions have made home ownership increasingly difficult for many households. Inflation, which has climbed significantly during Trump’s second term, continues to rank among the public’s top economic worries.Signs of renewed interest in home ownership have also emerged. A survey released on Tuesday found that, for the first time since 2023, more Americans said they would prefer to buy a home rather than rent or move in with family members.Trump’s decision leaves the future of the housing legislation uncertain, despite its strong bipartisan backing and growing pressure to address affordability challenges across the country.
