The House of Representatives on Tuesday approved a wide-ranging housing affordability bill, marking a rare bipartisan legislative victory as lawmakers seek to address rising housing costs nationwide. The measure now heads to President Trump’s desk after clearing both chambers of Congress with strong support.
The bill passed the House by a vote of 358 to 32, one day after the Senate approved it with overwhelming bipartisan backing. House Republican leaders moved quickly to bring the legislation to the floor following the Senate vote, citing growing public concern over housing prices ahead of the midterm elections.
Legislation
The measure, formally titled the 21st Century ROAD to Housing Act, is the result of months of negotiations between lawmakers in both chambers. Its primary goal is to increase housing supply and ease affordability pressures by reducing regulatory hurdles and accelerating construction.
Key provisions of the bill include limits on large corporate investors purchasing single-family homes, streamlined environmental review processes, and the removal of certain regulatory barriers that can delay housing development. Supporters say these changes are intended to make it easier and faster to build new homes, particularly in high-demand areas.
Bipartisan Effort
The legislation was jointly led by four senior lawmakers with influence over housing policy. They include Senate Banking Committee Chair Tim Scott, a Republican from South Carolina; Sen. Elizabeth Warren of Massachusetts, the top Democrat on the committee; House Financial Services Committee Chair French Hill, a Republican from Arkansas; and Rep. Maxine Waters of California, the committee’s ranking Democrat.
Hill praised the agreement during remarks on the House floor, calling it a demonstration of what Congress can accomplish when it works across party lines.
“This final product advances practical, bipartisan and bicameral solutions to modernize federal housing programs, reduce regulatory burdens, streamline the development process and help build more homes to meet that growing demand,” Hill said.
White House Support
The White House had urged Congress earlier this month to pass the bill, highlighting provisions that restrict corporate ownership of single-family homes. In a presidential proclamation, the administration described the legislation as “the most comprehensive and consequential housing legislation in the history of our country.”
The measure’s passage aligns with broader efforts by the administration and lawmakers from both parties to show progress on kitchen-table issues such as housing costs, inflation, and affordability.
Debate Over Impact
While the bill has drawn broad support, some experts caution that its impact on affordability may be limited, particularly regarding corporate investors. According to data from the Urban Institute, large institutional investors own about 3% of single-family rental homes, representing less than half a percent of the overall single-family housing stock.
Daryl Fairweather, chief economist at Redfin, said expectations around that provision may be overstated.
“A lot of people think that if we get rid of private equity, there will be all these houses available for sale for first-time homebuyers,” Fairweather said. “But that’s not going to happen.”
What Comes Next
Lawmakers from both parties acknowledged that the bill will not solve the housing crisis on its own but described it as an important step forward. Warren emphasized that bipartisan legislation can still deliver meaningful results.
“Today’s vote proves that it is possible to find bipartisan, common ground on legislation that actually helps the American people,” she said in remarks ahead of the Senate vote.
If signed by President Trump, the bill will mark one of the most significant federal housing policy changes in years, setting the stage for further debate over how best to address affordability and supply shortages across the country.
FAQs
What did the House pass?
A bipartisan housing affordability bill called the 21st Century ROAD to Housing Act.
How did the House vote?
The bill passed by a vote of 358 to 32.
What does the bill aim to do?
It aims to increase housing supply and lower costs.
Does the bill limit corporate homebuyers?
Yes, it places restrictions on corporate investors buying single-family homes.
What happens next?
The bill now goes to President Trump to be signed into law.
