A landmark housing affordability bill is headed to President Donald Trump’s desk after winning overwhelming support in Congress this week, setting the stage for the most sweeping federal housing package in a generation.
The bill aims to tackle America’s housing affordability crisis primarily through encouraging more supply, including of manufactured homes; and through encouraging local governments to reform zoning and permitting restrictions. The bill also includes a first-of-its-kind limit on private equity by prohibiting large investors from buying single-family homes.
A rare bipartisan effort, the bill reflects a growing recognition in Congress that the high cost of living is squeezing Americans and putting homeownership, long a cornerstone of the American dream, increasingly out of reach.
On Tuesday, the House of Representatives voted to pass the bill, called the “21st Century Road to Housing Act,” just one day after the Senate approved it.
Trump has said he plans to sign the bill into law.
