U.S. Lawmakers Reach Deal on Key Housing Affordability Bill
The package adds community banking, manufactured housing and permitting reforms while preserving a cap on institutional home purchases, lawmakers said.
- On Tuesday, Congress reached a bipartisan agreement on the 21st Century ROAD to Housing Act after months of negotiations, clearing the way for final votes this week on major housing reform legislation.
- Rising costs and long-standing inventory shortages have made homeownership unattainable for many families; median home prices exceed $405,000 while median household income sits below $84,000, creating urgency for federal intervention.
- The legislation streamlines environmental reviews for housing projects and lifts the bank investment cap on affordable housing to 20%, while implementing a 15-year ban on large institutional investors owning more than 350 units from purchasing single-family homes.
- Industry groups, including the National Multifamily Housing Council and National Apartment Association, praised the compromise, which removes a controversial requirement for large investors to sell rental homes within seven years of construction.
- Lawmakers expect final votes in both chambers this week, potentially sending the package to President Donald Trump's desk for signature, marking one of the most significant federal housing interventions in decades.
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Senate Moves Bipartisan Housing Package Toward Final Passage
The Senate voted 84-8 to advance a bipartisan housing bill that previously cleared the House by a 396-13 margin, putting the measure closer to President ... The post Senate Moves Bipartisan Housing Package Toward Final Passage first appeared on [your]NEWS.
Congress cuts a deal on the 21st Century ROAD to Housing Act
Financial Services Ranking Member Maxine Waters (left) and Chair French Hill (right) have shepherded the 21st Century ROAD to Housing Act in the House of Representatives. (Photo by Chip Somodevilla via Getty Images)After months of negotiations, lawmakers announced a bicameral agreement Tuesday on a final version of the 21st Century ROAD to Housing Act. …
InsideNoVA.com
U.S. lawmakers reach deal on key housing affordability bill
(The Center Square) – In a rare instance of congressional unity, the House and Senate reached a bipartisan, bicameral agreement over legislation to boost housing supply and home ownership across the country.
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