Washington, D.C. – The Senate passed a bipartisan housing bill Monday aimed at lowering housing costs by increasing supply, limiting large investor purchases, and easing some federal rules for homebuilding.
The 21st Century ROAD to Housing Act passed 85-5 and now heads to the House. Reuters reported that the bill combines dozens of housing proposals and is considered one of the most significant federal housing packages in decades.
One major provision would restrict large institutional investors from buying more single-family homes if they already control 350 or more properties. The proposal has drawn support from lawmakers who argue Wall Street-backed buyers have made it harder for families to compete in some markets.
The bill also includes supply-side changes, including incentives for local communities that build more housing or revise restrictive zoning rules. It would update rules for manufactured housing, streamline some permitting and environmental reviews, and create pilot programs to expand small-dollar mortgage access.
Supporters say the bill could help address a national housing shortage and high home prices. Critics warn the investor cap may have limited short-term impact because large investors own a small share of single-family homes nationally and existing holdings would generally be grandfathered.
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