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Here’s a quick recap of the crypto landscape for Friday (November 14) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$94,223.98, a 4 percent increase in 24 hours and its lowest valuation of the day. Its highest was US$97,203.84.

Bitcoin price performance, November 14, 2025.

Chart via TradingView.

Bitcoin’s drop below US$95,000 on Friday, driven by expiring derivatives, whale selling, and weak institutional and retail demand, has intensified fears of an entrenched bear market.

Analysts predict Q4 could be Bitcoin’s “worst fourth quarter on record.’

On X, analyst @follis_ notes that the Wyckoff Distribution model, a classic five phase pattern typically observed near market tops and often precursor to prolonged selling pressure, could signal a potential end to Bitcoin’s bull run.

The pattern suggests that after a buying climax near US$122,000 and a sequence of tests failing to create new highs, the price entered a markdown phase. Bitcoin could drop to US$86,000 if key support levels fail to hold.

Meanwhile, Ether (ETH) was priced at US$3,129.77, a 1.6 percent decrease in the last 24 hours. Its lowest valuation of the day was US$3,131.31, while its highest was US$3,246.27.

Altcoin price update

  • Solana (SOL) was priced at US$139.74, down by 1.9 percent over the last 24 hours. Its lowest valuation of the day was US$138.83, while its highest was US$143.61.
  • XRP was trading for US$2.27, down by 1.5 percent over the last 24 hours. Its lowest valuation of the day was US$2.26, while its highest was US$2.33.

Fear and Greed Index snapshot

Bitcoin’s bearish trajectory has pushed market sentiment into extreme fear. As of today, CMC’s Crypto Fear & Greed Index continues to trend in extreme fear territory with the indicator sitting at 22, marking the lowest levels of investor confidence since March and signaling that traders are highly cautious about entering the market.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

Derivatives data

Bitcoin and Ether futures markets saw a wave of long-side liquidations in the hours leading up to the end of the trading day, signaling trader capitulation amid continued price weakness. Roughly US$65.24 million in Bitcoin positions were liquidated over a four hour window, with the bulk coming from longs. Ether followed a similar pattern, registering US$22.13 million in liquidations, again concentrated among leveraged long positions.

The liquidations coincided with a clear contraction in open interest, suggesting that traders not only endured forced unwinds but also reduced overall exposure. Bitcoin open interest slipped 2.3 percent to US$66.05 billion, while Ether open interest saw a sharper 3.8 percent decline to US$36.31 billion.

Funding rates stayed positive — 0.007 for Bitcoin and 0.012 for Ether — indicating that the futures market remained slightly tilted toward bullish positioning despite the shakeout.

However, Bitcoin’s relative strength index sat at a notably low 27.33, entering the oversold zone and hinting that derivatives pressure may have pushed the market toward a possible short-term exhaustion point.

Taken together, the metrics point to forced deleveraging rather than a broad directional shift, though sustained weakness in open interest could temper near-term volatility once liquidation volumes normalize.

Today’s crypto news to know

Saylor denies reports of Bitcoin selloff

Strategy’s (NASDAQ:MSTR) Michael Saylor took to X on Friday to debunk reports that the company has reduced its Bitcoin holdings by roughly 47,000 BTC.

“I think the volatility comes with the territory,” he reiterated in a CNBC interview that day. “If you’re going to be a Bitcoin investor, you need a four-year time horizon and you need to be prepared to handle the volatility in this market.”

An earlier post from @Crypto Crib claims that the company had offloaded over 30,000 BTC; however, community-supplied context clarifies that 22,704 BTC were moved on October 31, and that these transfers were internal custody movements, not open-market sales.

Tether expanding commodity lending

In an interview with Bloomberg, Tether CEO Paolo Ardoino said the company is ‘expanding its presence in commodity lending,’ noting that the focus going forward will include traditional commodity trades like agriculture and oil managed under its new Trade Finance unit, which provides short-term credit for global supply chains.

The company has lent roughly US$1.5 billion in credit to commodities traders so far.

Alibaba builds tokenized payment system

Alibaba Grou Holding (NYSE:BABA) is developing a stablecoin-like system to streamline cross-border payments for its US$35 billion e-commerce network, aiming for a year-end launch.

The tokenized platform will initially support US dollars and euros, and will include further plans to expand to additional currencies using JPMorgan’s tokenization technology.

Under the system, artificial intelligence-driven smart contracts will automate settlements, dispute resolution, and conditional fund releases to reduce friction in B2B transactions. The system will operate alongside Alibaba’s Agentic Pay rail to enhance speed and transparency.

While not a formal stablecoin, the solution acts as a fiat-backed digital token for settlement purposes.

UAE tightens crypto access

The United Arab Emirates (UAE) has enacted a new central bank law that broadens licensing requirements for financial services, effectively criminalizing unlicensed crypto activity. Article 170 imposes penalties, including fines up to AED 500 million (US$136 million) and imprisonment, for offering financial products without authorization.

Self-custody tools, such as Bitcoin wallets, blockchain explorers, and market-data services, now fall under the licensing net, creating compliance challenges for providers inside and outside the UAE.

Article 61 further restricts promotion, marketing, or publication of unlicensed financial activities, affecting even online communications. Companies have a one year window to comply, subject to central bank discretion.

Uniswap introduces continuous clearing auctions

Uniswap introduced continuous clearing auctions on Thursday (November 13), a new protocol aiming to facilitate token offerings through its infrastructure. The company said that the protocol will help teams ‘bootstrap liquidity on Uniswap v4 and find the market price for new and low-liquidity tokens,’ adding that several additional tools currently under development will eventually be added to help projects launch and deepen token liquidity on the platform.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Gerardo Del Real, co-owner of Digest Publishing, breaks down his portfolio, saying he’s currently bullish on copper, gold, silver and uranium, as well as critical metals.

‘I think this is the golden age of exploration and development in the critical metals space and the precious metals space. So take advantage of the market, folks,’ Del Real said.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Attorney General Pam Bondi announced Saturday that the suspect wanted in connection to the attack on U.S. Attorney Alina Habba’s office in New Jersey this week has been taken into custody.

The FBI had identified the suspect Friday night as Keith Michael Lisa. 

Bondi said in an X post on Saturday morning that thanks to the FBI, the U.S. Marshals Service and Homeland Security Investigations, the suspect wanted in the attack on Habba’s office ‘is now in custody.’

‘No one will get away with threatening or intimidating our great U.S. Attorneys or the destruction of their offices,’ Bondi wrote.

The FBI said Lisa was wanted for allegedly entering the Peter W. Rodino Federal Building in Newark, New Jersey, on Nov. 12, 2025, while in possession of a bat.

‘After being denied entry, he discarded the bat and returned,’ the FBI said. ‘Once inside the building, he proceeded to the U.S. Attorney’s Office where he damaged government property.’

A federal arrest warrant was issued for Lisa on Thursday in the United States District Court for the District of New Jersey in Newark after he was charged with possession of a dangerous weapon in a federal facility and depredation of federal property, the FBI added.

Bondi had announced Thursday that an individual attempted to confront Habba on Wednesday night, ‘destroyed property in her office’ and then ‘fled the scene.’

‘Thankfully, Alina is ok,’ Bondi added. ‘Any violence or threats of violence against any federal officer will not be tolerated. Period. This is unfortunately becoming a trend as radicals continue to attack law enforcement agents around the country.’

Habba said following the incident that, ‘I will not be intimidated by radical lunatics for doing my job.’

Lisa, 51, was described by authorities as being around 6 feet 3 inches tall and weighing between 200 and 230 pounds.

The FBI said Lisa has ties to New York City and Mahwah, N.J., and ‘should be considered dangerous.’

On its website, the Justice Department said that as Acting U.S. Attorney and Special Attorney to the United States Attorney General, Habba ‘is responsible for overseeing all federal criminal prosecutions and the litigation of all civil matters in New Jersey in which the federal government has an interest.’

‘Including the offices in Newark, Camden, and Trenton, Ms. Habba supervises a staff of approximately 155 federal prosecutors and approximately 130 support personnel,’ the Justice Department said.

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In his iconic dissent in Morrison v. Olson (1988), the late, great Supreme Court Justice Antonin Scalia brilliantly articulated why the Independent Counsel Statute unconstitutionally intruded upon the Executive Branch. This dissent laid the groundwork for the Supreme Court’s current constitutionalist majority to restore sanity to separation-of-powers jurisprudence by returning power to its rightful place: the Executive Branch, all of whose power is vested in the President of the United States who is elected by all Americans.

Leftists and other anti-democratic big-government types call this view the ‘unitary executive theory.’ In reality, it is just Article II of the United States Constitution. We The People loan executive power to our duly-elected President; we do not divvy it up among unelected, leftist federal bureaucrats. Scalia’s most famous line in the Morrison dissent was his characterization of the statute as ‘a wolf in wolf’s clothing,’ a play on the idiom of ‘a wolf in sheep’s clothing.’ Scalia was illustrating how the violation of the separation of powers was unambiguous.

Former U.S. District Judge Mark Wolf of Massachusetts is another wolf in wolf’s clothing, despite his effort–aided by the leftist media–to package himself otherwise. Wolf was appointed to the bench by President Reagan in 1985, but he is no judicial conservative. Wolf received the stamp of approval from the most leftist home-state duo in Senate history: Ted Kennedy and John Kerry. The reason the approval of these radical senators was necessary lies in a century-old Senate tradition called the blue slip. Home-state senators can veto nominations of U.S. district judges, U.S. attorneys, and U.S. marshals. Nominees will not move forward without the return of blue slips from both home-state senators. Senators will not relinquish this extraordinary power because they are power-hungry and self-serving. They want to hand-select the federal prosecutor who could indict them, the federal judge who could try them, and the federal marshal who could escort them to prison.

Recently, Wolf resigned from his lifetime appointment. He had assumed senior status (a form of semi-retirement) during the Obama administration, allowing Obama—instead of the next Republican president–to appoint a leftist to replace Wolf in full-time judicial service. According to Wolf, President Trump has disregarded the rule of law in innumerable ways. Wolf wants to speak out about it and serve as a self-appointed spokesman for sitting judges who cannot. Wolf also has blasted the Supreme Court, claiming that the constitutionalist majority has enabled President Trump. Wolf has whined the Court has ruled 17 out of 20 times in the Trump administration’s favor on its emergency docket. Wolf has compared this success rate to that of players like Barry Bonds, Mark McGuire, and Sammy Sosa during Major League Baseball’s steroid era.

Wolf’s claim is absurd. The administration has succeeded so much at the Supreme Court thanks to its stellar team of legal all-stars, headed by Attorney General Pam Bondi and Solicitor General John Sauer. Many other brilliant attorneys also deserve credit for the administration’s sterling Supreme Court performance.

Moreover, the rulings by Wolf’s fellow activist judges are clearly partisan and lawless. How many cases does Wolf think the administration should have won before the Court? Eight out of 20? Ten? Twelve? His statistical conspiracy gibberish is devoid of even a scintilla of legal analysis. Wolf is only interested in peddling nonsense to bash justices he plainly detests. Wolf also conveniently ignores the other side of the statistical coin. According to analysis from former top Senate counsel Michael Fragoso, district judges in Massachusetts ruled against the Trump administration on 27 out of 29 temporary restraining orders and preliminary injunctions. Wolf apparently has no issue with this disparity; rather, he seems to view these rulings as coming from beacons of judicial integrity.

Wolf has a history of conspiracy hogwash. For over a decade, he pursued a baseless case against Supreme Court Justice Clarence Thomas, history’s greatest justice. According to Wolf, Thomas had wilfully failed to make required disclosures. The Judicial Conference categorically rejected Wolf’s theory. Yet, over a decade after the case had been closed, Wolf testified before a Senate Judiciary Committee subcommittee chaired by U.S. Senator Sheldon Whitehouse of Rhode Island, another partisan and deranged conspiracy theorist. During one exchange, Wolf told a U.S. senator that former Reagan Solicitor General Rex Lee would have been disturbed by, as Wolf saw it, unethical behavior of Thomas. That senator was Mike Lee of Utah, and Solicitor General Lee was his deceased father. Sen. Lee rightfully erupted at Wolf’s despicable statement.

Sitting judges cannot speak out against President Trump according to the Code of Conduct for United States Judges. They cannot use Wolf as their mouthpiece, either. The House and Senate Judiciary Committees need to subpoena Wolf to determine which judges are trashing President Trump through Wolf. If Wolf refuses to divulge the information, he should face contempt of Congress charges just like Trump allies Steve Bannon and Peter Navarro did.

If the identities of judges who speak through Wolf to bash President Trump become public, every one of those judges must face impeachment proceedings. No matter how difficult conviction by a two-thirds Senate supermajority will be, these rogue judges must suffer through the impeachment process to deter them and other judicial embarrassments from engaging in blatantly unethical behavior. These radical judges are illegally and dangerously subverting the will of American voters.

Wolf is a Sheldon Whitehouse, not a Ronald Reagan. Wolf plans to serve as the vehicle by which sitting judges can attempt to circumvent ethical constraints. He has spouted risible conspiracy tripe to denigrate the Supreme Court in general and Thomas in particular. He even has stooped to the all-time low of bringing up a senator’s deceased father in a pathetic attempt to score a few cheap political points. In short, Wolf is a disgrace to the federal judiciary, and his resignation is welcome news. Good riddance to this wolf in wolf’s clothing.

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The FBI identified Keith Michael Lisa as the suspect wanted in connection to an attack this week on U.S. Attorney Alina Habba’s office.

A reward of up to $25,000 is being offered by the FBI for information leading to the arrest and conviction of Lisa.

‘Keith Michael Lisa is wanted for allegedly entering the Peter W. Rodino Federal Building in Newark, New Jersey, on November 12, 2025, while in possession of a bat,’ according to the FBI. ‘After being denied entry, he discarded the bat and returned. Once inside the building, he proceeded to the U.S. Attorney’s Office where he damaged government property.’

‘A federal arrest warrant was issued for Lisa on November 13, 2025, in the United States District Court for the District of New Jersey, Newark, New Jersey after he was charged with Possession of a Dangerous Weapon in a Federal Facility and Depredation of Federal Property,’ the FBI added.

Attorney General Pam Bondi announced Thursday that an individual attempted to confront Alina Habba on Wednesday night, ‘destroyed property in her office’ and then ‘fled the scene.’

‘Thankfully, Alina is ok,’ Bondi added. ‘Any violence or threats of violence against any federal officer will not be tolerated. Period. This is unfortunately becoming a trend as radicals continue to attack law enforcement agents around the country.’

Habba said following the incident that, ‘I will not be intimidated by radical lunatics for doing my job.’

Lisa, 51, is described by authorities as being around 6 feet 3 inches tall and weighing between 200 to 230 pounds.

The FBI said Lisa has ties to New York City and Mahwah, N.J., and ‘should be considered dangerous.’

On its website, the Justice Department said that as Acting U.S. Attorney and Special Attorney to the United States Attorney General, Habba ‘is responsible for overseeing all federal criminal prosecutions and the litigation of all civil matters in New Jersey in which the federal government has an interest.’

‘Including the offices in Newark, Camden, and Trenton, Ms. Habba supervises a staff of approximately 155 federal prosecutors and approximately 130 support personnel,’ according to the Justice Department.

Fox News’ Alexis McAdams contributed to this report.

This post appeared first on FOX NEWS

Attorney General Pam Bondi announced Saturday that the suspect wanted in connection to the attack on U.S. Attorney Alina Habba’s office in New Jersey this week has been taken into custody.

The FBI had identified the suspect Friday night as Keith Michael Lisa. 

Bondi said in an X post on Saturday morning that thanks to the FBI, the U.S. Marshals Service and Homeland Security Investigations, the suspect wanted in the attack on Habba’s office ‘is now in custody.’

‘No one will get away with threatening or intimidating our great U.S. Attorneys or the destruction of their offices,’ Bondi wrote.

‘We got him. This Justice Department under Attorney General Pam Bondi and our federal partners will not tolerate any acts of intimidation or violence toward law enforcement,’ Habba wrote on X on Saturday in reaction to the arrest. ‘Now justice will handle him.’

The FBI said Lisa was wanted for allegedly entering the Peter W. Rodino Federal Building in Newark, New Jersey, on Nov. 12, 2025, while in possession of a bat.

‘After being denied entry, he discarded the bat and returned,’ the FBI said. ‘Once inside the building, he proceeded to the U.S. Attorney’s Office where he damaged government property.’

A federal arrest warrant was issued for Lisa on Thursday in the United States District Court for the District of New Jersey in Newark after he was charged with possession of a dangerous weapon in a federal facility and depredation of federal property, the FBI added.

Bondi had announced Thursday that an individual attempted to confront Habba on Wednesday night, ‘destroyed property in her office’ and then ‘fled the scene.’

‘Thankfully, Alina is ok,’ Bondi added. ‘Any violence or threats of violence against any federal officer will not be tolerated. Period. This is unfortunately becoming a trend as radicals continue to attack law enforcement agents around the country.’

Habba said following the incident that, ‘I will not be intimidated by radical lunatics for doing my job.’

Lisa, 51, was described by authorities as being around 6 feet 3 inches tall and weighing between 200 and 230 pounds.

The FBI said Lisa has ties to New York City and Mahwah, N.J., and ‘should be considered dangerous.’

On its website, the Justice Department said that as Acting U.S. Attorney and Special Attorney to the United States Attorney General, Habba ‘is responsible for overseeing all federal criminal prosecutions and the litigation of all civil matters in New Jersey in which the federal government has an interest.’

‘Including the offices in Newark, Camden, and Trenton, Ms. Habba supervises a staff of approximately 155 federal prosecutors and approximately 130 support personnel,’ the Justice Department said.

This post appeared first on FOX NEWS

Former first lady Michelle Obama said Americans are ‘not ready’ to elect a woman to the White House, citing former Vice President Kamala Harris’ 2024 presidential election loss to President Donald Trump.

Obama made the comments to a crowd of women at the Brooklyn Academy of Music while promoting her new book, ‘The Look.’

‘As we saw in this past election, sadly, we ain’t ready,’ she said on Friday.

‘That’s why I’m like, don’t even look at me about running, because you all are lying. You’re not ready for a woman. You are not,’ she continued.

The former first lady went on to say that she does not believe men in America are comfortable with a woman leading them.

‘You know, we’ve got a lot of growing up to do, and there’s still, sadly, a lot of men who do not feel like they can be led by a woman, and we saw it,’ Obama said.

In her book, which was released on Nov. 4, Obama touches on her journey with fashion, hair and beauty, as well as her time in the White House as the first Black woman to serve as first lady. She wrote that women in politics are often judged based on their physical appearance instead of their ability to lead.

‘During our family’s time in the White House, the way I looked was constantly being dissected — what I wore, how my hair was styled. For a while now, I’ve been wanting to reclaim more of that story, to share it in my own way. I’m thankful to be at a stage in life where I feel comfortable expressing myself freely — wearing what I love and doing what feels true to me. And I’m excited to share some of what I’ve learned along the way,’ Obama wrote on Facebook in June while promoting her book ahead of its release.

”The Look’ is about more than fashion. It’s about confidence. It’s about identity. It’s about the power of authenticity. My hope is that this book sparks conversation and reflection about the ways we see ourselves — and the way our society defines beauty,’ she added.

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For months, headlines warned of an impending famine in Gaza — images of starving children, shattered infrastructure and humanitarian collapse filled the news. On Aug. 22, 2025, the Integrated Food Security Phase Classification (IPC) declared that while full data was lacking, expert inference indicated famine was underway. Governments pledged aid; humanitarian agencies sounded alarms. Yet today, the word ‘famine’ has nearly vanished from headlines. What happened?

This is not to deny the human suffering in Gaza; it is to ask difficult, necessary questions. Was famine averted, exaggerated or politically reframed?

Famine has been described as a tree swaying in the wind — at some point it cannot recover and cannot be returned upright. But Gaza’s ‘famine tree’ never appeared to fully sway. If aid efforts or local resilience truly prevented catastrophe, where is the evidence? On August 22, 2025, famine was declared, and the global press carried that narrative. Then came a shift to the word ‘starvation.’ Now, even that language has faded.

The distinction matters. Famine is a technical classification grounded in data — household food security surveys, acute malnutrition rates and mortality. Starvation, by contrast, is a moral and legal term implying intent; under international law, using starvation as a weapon constitutes a war crime. In Gaza, this rhetorical shift occurred before comprehensive data was gathered — an escalation of accusation without empirical foundation.

Recovery from famine typically takes eight to 12 months, even under ideal conditions with full humanitarian access and functioning medical systems. Historical precedents — Somalia in 2011, South Sudan in 2017 and Sudan in 2023 — show that malnutrition persists long after headlines fade. If Gaza truly met famine standards this summer, the signs would still be unmistakable: rising mortality, overwhelmed clinics and a generation of weakened children. Yet no such surge has been confirmed by independent medical reporting.

Another inconsistency is behavioral. True famine unleashes chaos — hunger overrides social norms and people fight to survive. In August, 84% of Gaza aid convoys were reportedly looted. Yet after the Oct. 10 ceasefire, U.N. 2720 data show interceptions fell to 6%, and by November, below 1%. Where did the desperation go? Where is the looting? Where are the crowds of thousands?

Following the ceasefire, Hamas rapidly reasserted control, executing accused defectors and projecting an image of order. Recent videos show bustling markets and calm streets — a façade of normalcy meant to reinforce legitimacy. Within six weeks, famine conditions seemingly vanished. Can that be real?

If famine had truly taken hold, it would not have dissipated so quickly. Either the crisis was overstated, the data manipulated or public perception deliberately managed.

We cannot shy away from uncomfortable questions. Asking what happened to the famine in Gaza is responsible, not callous. Truth demands transparency, even when it challenges narratives we’ve grown accustomed to believing.

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Several weeks into the government shutdown, the notion of reopening seemed impossible. 

Both Senate Republicans and Democrats were deeply entrenched in their positions for 41 days and 40 nights, and neither side wanted to appear to be caving to the other. 

Senate Minority Leader Chuck Schumer, D-N.Y., and his caucus wanted a guaranteed deal on expiring Obamacare subsidies, while Senate Majority Leader John Thune, R-S.D., argued that the government needed to reopen first. 

But an explosion of bipartisan talks, pushed by external pressures of federal workers going unpaid, federal food benefits in jeopardy, and air travel grinding to a standstill, invigorated a working group of senators to build an off-ramp out of the historic closure.

The result was a bipartisan deal that included a trio of spending bills meant to jump-start the government funding process, an extension of the original House-passed continuing resolution (CR) to Jan. 30, 2026, to provide time to fund the government the old-fashioned way, and a renewed guarantee that Senate Democrats would get their vote on expiring Obamacare subsidies. 

In the end, the shutdown dragged on for 43 days, with the climactic vote to end it and send the package to the White House unfolding in the House on Wednesday. 

House Appropriations Committee Chairman Tom Cole, R-Okla., who was part of crafting the final spending deal, said discussions on those three bills had begun ‘long before’ the shutdown. 

‘We certainly had some knotty issues, a hemp issue, disagreements on funding levels and all that. But for the most part, we worked those through. And I would tell you from our side and I would assume from the other, the three big players were the Cardinals themselves,’ Cole said, referring to the three House Republican subcommittee chairs who led discussions on the three individual bills.

‘Our Democratic colleagues that voted against the bills had plenty of input in the bills. The real question will be in the next package — can you guys bring any votes? If you’re not going to bring any votes, our negotiation will be a waste of time, and we’ll be required to construct a coalition that’s all Republican.’ 

Nevertheless, most of the eight Senate Democrats that crossed the aisle viewed the guarantee of a vote on Obamacare as the turning point, though it lacked the guaranteed outcome that Schumer and the majority of the caucus sought. 

‘There was no vote that we were going to get on the Affordable Care Act premium tax credits,’ Sen. Jeanne Shaheen, D-N.H., said on Sunday, referring to Obamacare. ‘We have a guaranteed vote by a guaranteed date on a bill that we will write, not that the Republicans will write.’

For Sen. Tim Kaine, D-Va., who proved the decisive Democratic vote that sealed the deal on the proposal in the Senate, it was provisions that would rehire and protect workers fired by the Trump administration. 

Kaine recalled that it was just hours before the Senate was set to take a key test vote on the CR that he changed his mind. Up to that point, the White House had not wanted to include language that would have reversed the reductions in force (RIFs) that had been ordered at the start of the shutdown. 

But it was through Sen. Katie Britt, R-Ala., who was a key negotiator in the Senate, that Kaine got the White House on board. 

‘I said, I’m a no if you don’t do that, I’m a no, and you know that it was 4:45 p.m. in the afternoon on Sunday when they told me they would do that,’ he said.

Kaine noted that with 320,000 federal workers in Virginia and 2 million nationally, he recognized it was a big ask. 

‘And I told her, and when I explained it to her, she said, that’s a reasonable ask, but that the White House didn’t want to do it,’ he said. ‘And she was a little bit of a go-between and helping me.’

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Homeownership has long been part of the American dream, but that dream has been deferred.

Households in their 30s have an ownership rate of just 42% — more than 20 points lower than the national average.

The median age of all home buyers is a record-breaking 59, and the age of a first-time buyer is 40 — up from 29 in 1981.

As a solution, the Trump administration is floating a 50-year mortgage.

Though I disagree with that specific idea, I am heartened that they are brainstorming ways to tackle the problem.

We need a Marshall Plan for housing, a collection of broad initiatives to make homes more affordable and put the dream back on track.

The federal government can use its bully pulpit to get changes to red tape and regulations that are holding back building, and encourage policies that would increase housing and decrease costs.

To start, the White House and Fannie Mae should instead promote shorter, 20-year mortgages.

As Ed Pinto of the American Enterprise Institute has argued, a 20-year loan can be paid off ‘when the 30-year-term loan leaves most homeowners saddled with another decade or more of mortgage payments, the cash flow freed up from a paid-off shorter-term loan is available to fund a child’s post-secondary-education needs and later turbocharge one’s own retirement.’

The 20-year loan could be incentivized with a first-time buyer tax credit.

The decline in homeownership is a problem that must be addressed federally and locally.

This would be especially important today when the vast majority of taxpayers no longer itemize their tax returns — which means they cannot avail themselves of the deduction for mortgage interest.

That deduction always favored wealthy buyers of high-end homes anyway — so a targeted tax credit would help those who actually need it far more.

It’s time, as well, for the Trump White House to roll back one of the key initiatives of Elizabeth Warren’s pet project, the Consumer Protection Financial Agency.

The CPFC has pressured banks to limit mortgages to ‘plain vanilla’ mortgages, premised on its rules or what consumers can afford.

Adjustable rate loans and other ‘mortgage products’ can be right for some buyers — who should have a choice of how much risk they want to take in exchange for getting into the home market.

Even a low down payment might be hard to come up with, however, for those who can’t take advantage of generous in-laws.

Those without rich parents might turn to a ‘housing saving account’ — akin to the popular health savings accounts initiated by George W. Bush and which hold some $59 billion and are sheltered from taxation.

The new housing accounts should be tailored only for down payments, however — not long-term maintenance and other homeowner needs.

Buyers also are allowed today to take out $10,000 from their 401(k) penalty-free to go to a downpayment on a home.

Perhaps it’s time to raise that ceiling.

Of course, it goes almost without saying that even the most creative financing and incentives will fall short of addressing our housing needs without the most important problem: Supply.

There are many reasons why there aren’t enough starter homes.

Regulation in many cities makes construction difficult.

More retiring Boomers own second homes.

Banks have increasingly bought real estate as an investment and drive up prices.

Low turnover is another reason Gen X buyers have so much trouble breaking into the market.

During COVID, mortgage rates hit record lows and many refinanced.

These owners have a strong incentive not to trade a 3% mortgage for a new home and a much-higher rate.

Another key reason: more and more of us are living in small households or even alone.

The Census Bureau reports that, between 2019 and 2021, the number of households increased by more than 2 million a year.

That means we not only need more housing but more types of housing — many smaller units especially, rather than the two-acre, one house lots common in so many suburbs.

Here is where the limits of Washington’s hard power is reached.

Much of US housing policy is set at the hyper-local level, by planning boards and zoning boards.

That’s why outgoing New York City Mayor Eric Adams deserves so much credit for his ‘City of Yes’ rezoning in New York, which will permit safe basement apartments and ‘accessory dwelling units’ in parts of the city.

Accessory units — or ‘granny flats’ — can also be the means for older couples to sell the homes to younger households and downsize.

As part of a federal push, though, the Marshall Plan for Housing could encourage these same changes nationwide: Changing zoning to allow more housing; or taking undeveloped state land and providing tax incentives to build on them.

It’s the 18,000 municipalities across the country that are often standing in the way of what might be called naturally occurring affordable housing — small homes on small lots, like those of the original Levittown, where houses were just 750 square feet of living space.

Housing and Urban Development Secretary Scott Turner should urge localities to permit private, unsubsidized, small homes and apartment buildings, or what AEI’s Pinto terms ‘light-touch density.’

It’s far more likely to gain local approval than the subsidized, low-income housing Democrats have long favored, starting with the public housing the socialist Zohran Mamdani wants to revive.

Private building is also less costly; new housing units in California subsidized through the low income housing tax credit can cost upwards of $800,000 per units, a bonanza for developers but not many tenants.

Building costs for any housing, however, will inevitably go up as a result of another Trump policy: his 10% tariff on plentiful Canadian lumber and timber products and a 25% tariff on kitchen cabinets and furniture.

The de facto taxes are causing what the National Association of Home Builders calls ‘headwinds’ holding back new construction.

As a builder himself, he should rethink these tariffs.

Homeownership is a virtuous conspiracy making the nation better.

Owners are more likely to maintain neighborhoods than renters, more likely to improve schools and services by getting involved in local government — the essence of American federalism.

The decline in homeownership is a problem that must be addressed federally and locally.

But the Trump administration can take the lead, with tax breaks and the encouragement of construction.

The president can bring the dream alive again.

 

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