Aggregator
Hunter Biden teases massive new role with Gavin Newsom
Songwriters Hall Of Fame Induction Ceremony 2026 red carpet: Alanis Morissette, Brandi Carlile, more
Songwriters Hall Of Fame Induction Ceremony 2026 red carpet: Taylor Swift, Alanis Morissette, Brandi Carlile, more
Two Southern California bars ranked among the best in the US
LeBron James and Steph Curry in Golden State continues to gain steam
Trump Nominates US Attorney Jay Clayton As Director Of National Intelligence
Authored by Jack Phillips via The Epoch Times,
President Donald Trump on Thursday said he is nominating Jay Clayton, the U.S. Attorney for the Southern District of New York, to be his director of national intelligence.
The move comes weeks after former intelligence chief Tulsi Gabbard said she is stepping down from the role.
Trump, in announcing the decision on Truth Social, wrote that “few people anywhere” in the legal community have as much respect as Clayton, the former head of the Securities and Exchange Commission (SEC), whom the president also described as “highly respected.”
“I encourage the United States Senate to confirm Jay as soon as possible,” he wrote in the post.
Last month, Gabbard announced she was stepping down as the head of the Office of the Director of National Intelligence (ODNI) because her husband was diagnosed with a rare form of cancer.
Federal Housing Finance Agency Director Bill Pulte was named by Trump to serve as acting director in a move that drew pushback from Democratic and some Republican lawmakers.
Pulte will serve as the acting U.S. intelligence chief and would take over from Gabbard later in June, Trump said on Tuesday.
Last week, the president told the Wall Street Journal that he would encourage Pulte to downsize parts of the intelligence office, which oversees 18 federal agencies and units.
“I’d like to see it smaller. I think there are a lot of people in there that shouldn’t be there,” Trump said on June 5, adding that Pulte has broader latitude to make significant changes due to his being the acting head of the ODNI.
“You’re less shackled,” he said. “It sort of gives you more power, you know, for a somewhat limited period of time.”
Going further, Trump suggested that the ODNI could even be “terminated” in its entirety, noting that a similar downsizing process was undertaken at the Department of Education.
“We’ve made the Department of Education much smaller, and likewise, this should be much smaller,” he added.
Trump praised Pulte as a “very smart guy” while speaking to reporters last week and added that he “may find out some things about the rigged elections.”
The decision to name Pulte as acting director, however, prompted Democratic opposition to renew Section 702 of the Foreign Intelligence Surveillance Act (FISA) in a vote earlier this week.
“Just voted NO again on a clean FISA reauthorization. We shouldn’t allow the government to conduct warrantless surveillance of Americans—especially with Bill Pulte in charge,” Rep. Sara Jacobs (D-Calif.) wrote in a post on X as the House failed to extend the provision.
Some Republican senators, meanwhile, indicated they would not have voted to appoint Pulte if Trump nominated him.
“The Senate doesn’t have any role to play in terms of confirming acting officials, but I see no evidence of any qualifications for that job,” Sen. John Cornyn (R-Texas) told The Hill about Pulte.
Clayton had served as head of the SEC from May 2017 until December 2020. He also served as the head of the prominent law firm Sullivan & Cromwell, one of the largest in the world.
Tyler Durden Thu, 06/11/2026 - 18:25JD Vance set to make his first appearance on ‘The View’ — becoming only 3rd sitting vice president to do so
Former ‘View’ co-host Elisabeth Hasselbeck tapped by Bari Weiss to guest host CBS morning show
‘DWTS’ alum Lindsay Arnold welcomes 3rd baby with husband Sam Cusick
‘DWTS’ alum Lindsay Arnold welcomes 3rd baby with husband Sam Cusick
LIV Golf’s Scott O’Neil tells The Post why the rebel tour’s future has him amped
Mamdani, Dolan would have to bury hatchet for potential massive Knicks ticker-tape parade if they win NBA Finals
Dem lawmaker bizarrely claims black Americans will stop voting if they don’t get reparations
One Forgotten Housing Supply-Side Lever Could Unfreeze Affordability
Rental affordability remains far superior to mortgage affordability, with the U.S. 30-year fixed mortgage rate trending around 6.5% in early June. With home prices still at record highs, last week's housing report showing sellers pulling listings at a near-record pace as buyers balk at prices is yet another warning sign that the frozen housing market remains well intact.
The Trump administration's affordable housing strategy focuses on market deregulation, expanded homeownership, stricter citizenship requirements for federal housing assistance, and Fannie Mae and Freddie Mac purchasing $200 billion of their own mortgage-backed securities to artificially lower mortgage rates and increase home affordability.
Even with all that, the housing market remains locked in a deep freeze into early summer, as the math for prospective homebuyers just does not add up, largely due to a housing shortage.
JPMorgan analysts recently said that the current housing shortage of around 2.8 million homes could take about 10 years to resolve. That is simply not enough time for the Trump administration to make good on its promise to unfreeze the market, as younger generations are forced into rentals.
But there is good news: Goldman analysts led by Arun Manohar outlined that manufactured housing remains one of the most underused affordability tools, as the estimated housing shortage is well north of 3 million and as high as 4 million homes.
Manohar pointed out that shipments of manufactured homes averaged about 265,000 units annually before 2000, but plunged to around 80,000 per year since 2010 after the 1990s boom ended in delinquencies, tighter lending standards, and more zoning restrictions.
"One approach for increasing the supply of homes at more affordable price points is to promote access to manufactured housing," Manohar wrote in the report last week.
Manufactured homes now account for about 6% of owner-occupied U.S. housing, down slightly from roughly 7% in 2010. There are about 8.4 million manufactured housing units nationwide, mostly concentrated in the South and Southeast.
Mostly situated in rural areas.
... and typically have less square footage than a traditional single-family home.
Manohar continued that these manufactured housing units are "residences that are prefabricated in a factory setting and then transported to their final location for installation," adding, "This method not only streamlines the construction process but also offers significant cost savings compared to traditional site-built homes, making manufactured housing a promising solution for those seeking affordable housing options."
Manufactured homes are cheaper and faster to build than stick-built homes.
These tiny homes could be a meaningful supply-side lever to improve housing affordability, especially for lower-income and first-time buyers, as the frozen housing market is expected to take years to normalize.
How To Profit
Professional subscribers can read the full note here at our new Marketdesk.ai portal.
Tyler Durden Thu, 06/11/2026 - 18:00