The unlikely alliance trying to fix America’s housing crisis

Summary

Apple News Today: The Unlikely Alliance Trying to Fix America’s Housing Crisis

Released on July 31, 2025 | Host: Shemitah Basu

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1. Tackling America’s Affordable Housing Crisis

00:36 – 03:15

Shemitah Basu opens the episode by addressing a pressing issue that resonates across the United States: the affordable housing shortage. With approximately 4.5 million homes lacking and the median age for first-time homebuyers nearing 40, the crisis is exacerbated by nearly half of renters being "cost burdened," spending over 30% of their income on rent.

An unlikely bipartisan alliance has emerged in Congress, uniting Republicans and Democrats around a bill aimed at addressing this shortage. Liz Goodwin from The Washington Post highlights the collaboration between Republican Senator Tim Scott and Democrat Senator Elizabeth Warren (02:09). “They both agreed that the housing crisis is really bad and that the solution is just to build more houses,” Goodwin explains (01:30).

The proposed legislation focuses on deregulation to facilitate the construction of more homes, appealing to both sides by cutting red tape and reducing regulatory barriers. Key components include:

• Loosening rules for building prefab or factory-made homes
• Offering tax incentives for development in economically disadvantaged areas
• Establishing a $1 billion innovation fund to support housing initiatives

Goodwin notes, “If a local government does a good job building housing, they get more money,” illustrating the bill's use of incentives to encourage municipalities to increase housing stock (02:09).

However, housing advocates express concerns that the legislation may not sufficiently compensate for recent cuts to housing programs within the Department of Housing and Urban Development (HUD). Despite strong support, with Senate Majority Leader John Thune acknowledging its momentum (03:12), the bill's progression is delayed as the Senate takes a break, projecting a possible vote in September (03:15).

2. President Trump’s Tariff Deadline and Trade Agreements

03:33 – 07:00

Shemitah Basu shifts focus to President Trump's ongoing tariff initiatives, emphasizing the high stakes as he approaches the deadline to secure trade agreements with nearly 180 countries. Originally announced in April, these tariffs led to significant market volatility, wiping out trillions in the U.S. stock market before a subsequent recovery (03:39).

Despite declaring seven trade agreements with major partners—including the EU, Japan, South Korea, the Philippines, Indonesia, Vietnam, and the UK—only one has been formally signed (04:03). Daniel Durocher, an international trade reporter with Politico, cautions, “It’s very much like the president says, I made this great deal... we don't really know where the tariffs are going to be on specific goods” (04:43).

Key issues include:

• EU Agreement: While the U.S. commits to eliminating tariffs on American goods, the EU reserves the right to impose tariffs on certain imports like agricultural products (04:59).
• Philippines and Indonesia: Disputes arise over investment commitments and specific tariff rates, leading to uncertainties for U.S. businesses (05:34).
• South Korea: Similar to other deals, lacks detailed agreements, leaving the actual benefits unclear (05:51).

Durocher highlights the business uncertainty caused by the potential for fluctuating tariffs, complicating investment decisions and economic stability (06:04).

3. Humanitarian Crisis in Gaza: Impending Mass Starvation

07:00 – 10:24

A stark contrast is presented with the dire situation in Gaza, where an UN-affiliated report warns of famine conditions due to Israel's blockade on aid. The Integrated Food Security Phase Classification (IPC) report underscores catastrophic human suffering and highlights that the blockade has led to widespread hunger across the enclave (07:20).

Salma Al Tawil from the Norwegian Refugee Council poignantly describes the situation: “Starvation that is not a specific area or for a group of people. It covers all everything in Gaza, humans, animals” (08:33). The humanitarian crisis is further illustrated by harrowing images of malnourished children and the tragic death of a five-month-old girl who weighed one-third less than her birth weight (08:57 – 09:04).

Dr. Ahmed Al Farah, leading the pediatric ward at Nasser Hospital, warns of long-term effects: “Because Gaza's youngest have been nutritionally deprived during a critical phase of development for their nervous systems, many could grow up with neurological impairments” (09:07 – 09:35).

Recent attempts by Israel to open aid corridors have been insufficient. Hani Al Madhoun from the UN's Palestinian Humanitarian Group emphasizes the need for substantial aid: “We need to go back to 500 to 600 trucks of aid. So far this has not happened” (09:55 – 10:09).

International pressure mounts as leaders like UK Prime Minister Keir Starmer and Canada's officials announce plans to recognize Palestine if a ceasefire isn’t achieved, signaling escalating diplomatic efforts to address the crisis (10:24).

4. Federal Reserve Maintains Interest Rates Amid Dissent

10:50 – 11:31

In economic news, the Federal Reserve has decided to hold interest rates steady between 4.25% and 4.5% for the fifth consecutive time (10:50). Notably, two Fed officials—Michelle Bowman and Christopher Waller, both Trump appointees—voted to lower rates, diverging from the majority decision (11:05).

Current Fed Chair Jerome Powell downplays the dissent, asserting that the officials "laid out a clear case for their decisions" without signaling any immediate policy shifts (11:24 – 11:31). This internal disagreement marks the first such occurrence in over three decades, reflecting underlying tensions within the committee amidst President Trump's pressure to adjust rates (11:01 – 11:19).

5. Russia’s Earthquake and the Mitigated Tsunami Fears

11:31 – 12:23

A powerful 8.8 magnitude earthquake struck off Russia's coast, prompting widespread concern over a potential tsunami. However, the anticipated devastation was mitigated due to several geological factors. Experts explain that tsunami formation is influenced by more than just earthquake magnitude, including:

• Water displacement
• Coastline and seafloor topography
• Wave concentration patterns

Shemitah Basu underscores that the non-linear nature of earthquake measurements means a slight increase in magnitude can result in a disproportionate release of energy (11:54 – 12:06). Comparatively, the 2022 quake was less catastrophic than Japan's 9.1 magnitude earthquake in 2011, which resulted in significant loss of life (12:13 – 12:23).

6. Beyoncé Makes History in Country Music

12:23 – 13:24

Wrapping up the episode on a lighter note, Shemitah Basu celebrates Beyoncé’s historic achievements in the country music genre. Beyoncé became the first Black woman to top the Billboard country charts with her Cowboy Carter Tour, which has now grossed over $400 million from 32 stops and 1.6 million tickets sold (12:23 – 12:49).

This accomplishment follows her recognition as the first Black artist to win Country Album of the Year at the Grammys and her status as the highest-grossing Black artist of all time according to Live Nation (13:09 – 13:24). Beyoncé’s efforts aim to highlight the long-ignored contributions of Black Americans to country music, marking a significant cultural milestone (12:52 – 13:05).

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Additional Insights:

While the main focus centers on the housing crisis, trade policies, and humanitarian issues, the episode briefly touches upon an Arizona woman’s sentencing for her involvement in a scheme where North Koreans worked remotely for U.S. companies to funnel money back under heavy sanctions (13:28 – 13:46). Details of this story are available through the Apple News app’s narrated articles.

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This comprehensive summary encapsulates the key discussions and insights from the Apple News Today episode, providing listeners with a clear understanding of the critical issues addressed and the notable developments shaping the current socio-political landscape.

Transcript

[Host 1]

Good morning.

[Shemitah Basu]

It's Thursday, July 31st. I'm Shemitah Basu. This is Apple News Today.

[Host 1]

On today's show, what to know as.

[Shemitah Basu]

We hit Trump's tariff deadline, how mass starvation in Gaza could impact Palestinians for generations and why that huge earthquake off Russia's coast wasn't as bad as so many feared.

[Host 1]

But first, to an issue almost all.

[Shemitah Basu]

Americans agree is a problem even in these divided affordable housing.

[Host 1]

There are four and a half million.

[Shemitah Basu]

Too few homes right now, according to the Chamber of Congress. The median age for a first time home purchase is nearly 40 by some estimates.

[Host 1]

And about half of people renting are.

[Shemitah Basu]

Cost burdened, meaning more than 30% of their income is spent on rent.

[Host 1]

Lawmakers in Congress agree something needs to change. And now there's an unlikely bipartisan alliance.

[Shemitah Basu]

Forming around a bill to address the shortage that's gaining momentum.

[Liz Goodwin]

A sort of unusual thing happened in the Senate, which is that a major piece of legislation passed a committee unanimously.

[Host 1]

That's Liz Goodwin, who covers Congress for the Washington Post. She told us about how two senators.

[Shemitah Basu]

On the Banking Committee, Republican Tim Scott and Democrat Elizabeth Warren, came together to write this measure.

[Liz Goodwin]

She's the highest ranking Democrat on the committee and he runs the committee and kind of said, you know, can we agree on anything? And they basically found that they both agreed that the housing crisis is really bad and that the solution to it is just to build more houses.

[Host 1]

And this bill tries to do that.

[Shemitah Basu]

Primarily through deregulation, which appeals to both Republicans who are eager to cut red.

[Host 1]

Tape and Democrats who also think regulations.

[Shemitah Basu]

Have gone too far and are holding back the housing market.

[Host 1]

It proposes things like loosening the rules.

[Shemitah Basu]

To build prefab or factory made homes, tax incentives for development in poorer areas, and a $1 billion innovation fund.

[Liz Goodwin]

If a local government does a good job building housing, they get more money. So there's sort of a carrot and stick situation here where they're trying to incentivize places to build more affordable housing.

[Host 1]

And while the national conversation about housing.

[Shemitah Basu]

Affordability often centers around urban areas where rents are so high, this bill is pret broad.

[Liz Goodwin]

There's a lot in this bill that deals with rural housing because a lot of the members of this committee are from rural states. A lot of times these housing bills are more geared towards like urban issues. And this is not one of them. It's people really stacked it with all of their different priorities.

[Host 1]

Goodwin says the bill wouldn't make dramatic.

[Shemitah Basu]

Changes to anyone's neighborhood anytime soon or create new zones for housing.

[Host 1]

Housing advocates say the legislation won't fully.

[Shemitah Basu]

Make up for recent moves to cut housing programs for lower income Americans or.

[Host 1]

Make up for the recent substantial cuts.

[Shemitah Basu]

To the Department of Housing and Urban Development.

[Host 1]

And many of the barriers to housing.

[Shemitah Basu]

Are state led initiatives not easily changed by Congress.

[Host 1]

Still, the bill itself has a good.

[Shemitah Basu]

Chance of making it to the floor.

[Host 1]

With Senate Majority Leader John Thune acknowledging.

[Shemitah Basu]

Its unusually strong support.

[Host 1]

But now that the Senate is about.

[Shemitah Basu]

To take a break, the earliest it could reach a vote would be in September.

[Host 1]

Now to President Trump's tariff deadline. He's given nearly 180 countries until tomorrow.

[Shemitah Basu]

To reach trade agreements with the United States or else face steep tariff hikes.

[Host 1]

Remember, he announced these tariffs back in April, but paused most of them after.

[Shemitah Basu]

They triggered a massive sell off in global markets, wiping out trillions of dollars in value from the US Stock market alone.

[Host 1]

Wall street has since recovered and hit record highs. And Trump's administration has spent the last.

[Shemitah Basu]

Few months trying to negotiate deals.

[Host 1]

He's announced seven so far with leading trade partners.

[Shemitah Basu]

The eu, Japan, the Philippines, Indonesia, Vietnam, the UK and just yesterday, South Korea.

[Host 1]

He has touted them as major victories.

[Shemitah Basu]

But Politico points out only one of these agreements has been signed, which means.

[Host 1]

Most are not really official yet. It's not clear how much they might.

[Shemitah Basu]

Benefit the US and the terms could still change.

[Daniel Durocher]

The devil is in the details. And these details can really affect how impactful some of these wins that President Trump has claimed in these deals are.

[Host 1]

That's Daniel Durocher, international trade reporter with Politico.

[Daniel Durocher]

It's very much like the president says, I made this great deal. Here's what they're gonna do. And then the other countries will say, well, you know, yes, kind of take.

[Host 1]

The framework agreement with the EU Trump announced last weekend, for example, which would put a 15% tariff on almost all.

[Shemitah Basu]

Imports, the 27 member nations.

[Daniel Durocher]

He said that the EU is going to eliminate all tariffs on US goods that are sent over there. And the president of the European Commission then later clarified, well, no, it's not all goods. You know, it's some things and some of those things still need to be ironed out. You know, specifically agricultural product. That means that we don't really know where the tariffs are going to be on, say wine from Italy or France or whether or not bourbon will be tariffed when it goes over there.

[Host 1]

The White House has released very few.

[Shemitah Basu]

Details on its recent agreement with the Philippines. Indonesia is disputing some of the details, details released on theirs.

[Host 1]

Darocha reports that it's not clear if.

[Shemitah Basu]

Japan can guarantee the private sector investments in the US that they've promised.

[Host 1]

They too seem to have different interpretations.

[Shemitah Basu]

Of the deal that Trump announced.

[Host 1]

And Vietnam has not confirmed the US.

[Shemitah Basu]

Tariff rate that Trump says it agreed to.

[Host 1]

As for the deal just made with.

[Shemitah Basu]

South Korea, the US will charge a 15% tariff on imports and Trump has said they had agreed to invest in U.S. projects.

[Host 1]

They, as with many of the others.

[Shemitah Basu]

Journalists have not been able to analyze any detailed text.

[Host 1]

Durocher tells us even the UK's deal.

[Shemitah Basu]

That'S the one that's been formally signed.

[Host 1]

Is murky on the details. The UK is still pressing for the.

[Shemitah Basu]

US to make good on its commitment to eliminate tariffs on steel and aluminum.

[Host 1]

And the two countries are still haggling.

[Shemitah Basu]

Over restrictions on agricultural goods and other key sectors.

[Host 1]

With so little information on what's happening.

[Shemitah Basu]

With these tariffs, Durocher says businesses are.

[Daniel Durocher]

Suffering because even if you have a handshake agreement, say that even gets put down on paper, but the US is still maintaining that they have the right to raise tariffs whenever they want. And that just creates this environment of uncertainty. Businesses don't really know how high the tariffs are, how high they're going to end up. They're trying to make these bets and hedge of like, okay, is this the lowest rate that we're going to have? And so it's making the business scene really, really complicated. It's making the investment scene really, really complicated.

[Host 1]

The White House has said it stands.

[Shemitah Basu]

By their descriptions of the deals announced and it's threatened to raise tariffs on countries that don't follow those terms. Let's turn now to Gaza and before.

[Host 1]

We go further, a warning that this.

[Shemitah Basu]

Story contains graphic descriptions of people suffering from hunger. Local health officials say the Palestinian death toll from Israel's military offensive has surpassed.

[Host 1]

60,000 people, although experts widely agree that.

[Shemitah Basu]

The true total is higher. Authorities say thousands of bodies are still buried under rubble.

[Host 1]

And the world's leading monitor of hunger called on Israel and other governments this.

[Shemitah Basu]

Week to take immediate action to secure a sustained unconditional ceasefire and facilitate a large scale humanitarian response for starving Palestinians.

[Host 1]

This latest report from the UN affiliated.

[Shemitah Basu]

Ipc, which is short for the Integrated Food Security Phase classification, concluded that Israel's blockade on aid has created famine conditions across most of the enclave and caused catastrophic human suffering. The report confirms what people inside Gaza and worldwide have been seeing with their own eyes in recent months, largely thanks to local journalists and aid workers who who are working to document the crisis despite starving themselves. Here's how Salma Al Tawil, who works in Gaza for the Norwegian Refugee Council, described conditions for the BBC I'm not.

[Salma Al Tawil]

Able to help myself or feed my children. I'm talking about starvation that is not a specific area or for a group of people. It covers all everything in Gaza, humans, animals.

[Shemitah Basu]

We've seen images of mothers holding emaciated children, babies in pediatric wards that appear skeletal and barely have the energy to cry.

[Host 1]

The AP recently told the story of.

[Shemitah Basu]

A five month old girl who died weighing roughly 1/3 less than her birth weight.

[Host 1]

The IPC report says hospitals have seen.

[Shemitah Basu]

A rapid increase in hunger related deaths of children under five in the last three months. Over 20,000 children have been admitted for acute malnutrition in that time. NPR spoke with Dr. Ahmed Al Farah who leads the pediatric ward at Nasser Hospital in southern Gaza. He says because Gaza's youngest have been.

[Host 1]

So nutritionally deprived during a critical phase.

[Shemitah Basu]

Of development for their nervous systems, many could grow up with neurological impairments like.

[Salma Al Tawil]

Attention deficit hyperactivity disorder, difficulty in school performance, incomprehension Speaking When a child is.

[Shemitah Basu]

Malnourished, the damage can quite literally change how their genes function, impacting families for generations to come.

[Host 1]

Earlier this week, Israel said that it.

[Shemitah Basu]

Would open up some aid corridors and begin airdropping limited amounts of food. But Hani Al Madhoun from the UN's Palestinian Humanitarian Group told CBS News Israel still is not letting enough aid in.

[Hani Al Madhoun]

We are excited to hear about the news about aid being allowed into Gaza, but remember, the Palestinians cannot eat announcements. We need to go back to 500 to 600 trucks of aid. So far this has not happened.

[Host 1]

Some countries are starting to put more pressure on Israel. UK Prime Minister Keir Starmer announced the.

[Shemitah Basu]

Country will recognize Palestine as a state by September if Israel refuses to announce a ceasefire, among other terms. Canada says it will do the same, and France made a similar announcement last week.

[Host 1]

Before we let you go, a few other stories were following. The Federal Reserve voted to hold interest.

[Shemitah Basu]

Rates steady between 4.25 and 4.5% for the fifth consecutive time.

[Host 1]

But for the first time in more than 30 years, the the vote saw.

[Shemitah Basu]

Dissent from two officials on the board. Trump appointees Michelle Bowman and Christopher Waller.

[Host 1]

Both voted to lower rates in line with the wishes of President Trump, who's.

[Shemitah Basu]

Put intense pressure on the committee.

[Host 1]

The Hill reports both are in the.

[Shemitah Basu]

Running for Trump's pick for the next Fed chair.

[Host 1]

But the current chair, Jerome Powell, played.

[Shemitah Basu]

Down the significance of their dissent and said they laid out a clear case for their decisions.

[Host 1]

After one of the strongest earthquakes in modern history hit Russia yesterday.

[Shemitah Basu]

The massive tsunami that many feared would.

[Host 1]

Materialize ultimately didn't come scientific Americans spoke.

[Shemitah Basu]

With experts about the geological reasons for.

[Host 1]

That, and they say the magnitude of an earthquake alone cannot necessarily tell you.

[Shemitah Basu]

How much water will be displaced or where waves will concentrate.

[Host 1]

Tsunamis can be affected by the shape.

[Shemitah Basu]

And nature of the coastline and seafloor they pass over. And more generally, the way we measure earthquakes is not linear.

[Host 1]

A small increase in magnitude causes a.

[Shemitah Basu]

Huge jump in energy unleashed, which could.

[Host 1]

Explain why Tuesday's 8.8 magnitude quake was.

[Shemitah Basu]

Far less catastrophic than the 9.1 magnitude earthquake that struck Japan in 2011, killing over 15,000 people.

[Host 1]

And finally, Beyonce made history as the.

[Shemitah Basu]

First Black woman to top the Billboard country charts.

[Host 1]

Now her Cowboy Carter Tour is officially.

[Shemitah Basu]

The highest grossing country tour of the whole time.

[Host 1]

The tour earned just over $400 million.

[Shemitah Basu]

After 32 stops, 1.6 million tickets sold, and one pretty memorable flying car mishap.

[Host 1]

She created this record after getting snubbed.

[Shemitah Basu]

By the country music industry almost a.

[Host 1]

Decade ago with the goal of highlighting.

[Shemitah Basu]

The long ignored contributions Black Americans have made to the genre.

[Host 1]

And this latest accolade joins a long list of records. Beyonce was the first Black artist to.

[Shemitah Basu]

Win Country Album of the Year at the Grammys for Cowboy Carter, and Live Nation says she is now the highest grossing Black artist of all time.

[Host 1]

You can find all these stories and.

[Shemitah Basu]

More in the Apple News app.

[Host 1]

And if you're already listening in the.

[Shemitah Basu]

News app right now, we've got a narrated article coming up next.

[Host 1]

For years, thousands of North Koreans secretly.

[Shemitah Basu]

Worked remote jobs for hundreds of US Companies under false identities, and they funneled millions of dollars back to North Korea, which is under heavy US Sanctions.

[Host 1]

An Arizona woman who helped them was.

[Shemitah Basu]

Recently sentenced to more than eight years in prison for her role in the scheme, and she shared her story with Bloomberg businessweek. If you're listening in the podcast app, follow Apple News plus Narrated to find that story and I'll be back with the news tomorrow.