President Donald Trump scored a major legislative win after Congress cleared a sweeping housing bill aimed at expanding the nation’s supply of homes and lowering costs. The 21st Century ROAD to Housing Act, one of the most significant housing bills approved by Congress in decades, largely incorporates Trump’s proposal to ban large institutional investors from purchasing single-family homes — a measure designed to help individual buyers compete with private equity firms.
Housing Affordability
The bill would also streamline federal environmental reviews for housing, loosen regulations around the construction of factory-built homes, and incentivize local governments to reform their zoning laws to allow for more homebuilding, among its more than 45 provisions. Other sections would allocate federal grants to municipalities with a track record of constructing new homes and create a pilot program to help communities redevelop vacant properties.
The president is expected to promptly sign the measure into law as soon as Wednesday. Tuesday’s vote comes as home prices have surged in recent years, with the median nationwide price tag topping $400,000 and the median asking rent climbing above $1,760, representing an increase of 34.4% and 17.9%, respectively, since 2019, according to analysis from Realtor.com.
Original reporting: Fox News (HLL/CB) — read the source article.
