Real estate veteran warns ‘hopelessness’ in housing market threatens the American dream

As the Trump administration considers declaring a national housing emergency, an affordable housing developer who began his career at Lehman Brothers unequivocally agrees the proclamation is overdue.

"I think for sure we're in a national housing emergency. I think we've been here for some time," Dan Coakley, Property Markets Group Affordable principal, told Fox News Digital.

"As far as I'm concerned, it's right on time," he added. "If you look back over the last 10-plus years where there's been a housing emergency, no White House has really taken ownership of this issue, despite the fact that, in my view, it's probably the most important issue out there in the political realm and in the realm of what's most meaningful in the lives of everyday people."

On Monday, Treasury Secretary Scott Bessent told the Washington Examiner that the Trump administration may declare a national housing emergency this fall, citing rising prices and dwindling supply...