WASHINGTON — The House passed a major housing affordability bill Tuesday aimed at boosting the supply of homes and cracking down on large investors buying up houses.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.The bill passed 358-32, one day after clearing the Senate by a vote of 85-5.It now goes to President Donald Trump, who is supportive and expected to sign it into law.It marks a rare bipartisan achievement for a largely gridlocked Congress in Trump’s second term, giving Republicans who control both chambers a desperately needed victory on the politically potent issue of lowering costs just months ahead of the midterm elections.The 21st Century ROAD to Housing Act includes grant funding and pilot programs to build new homes.
It also eases some regulations and empowers local governments to expedite reviews to construct housing.And a key section titled “Homes Are For People, Not Corporations” imposes limits on any “large institutional investor” from buying single-family homes.The bill had stalled for months amid disputes between the House and Senate.
But a breakthrough came last week after key committee leaders in both chambers struck a deal, namely Sens.Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., and Reps.
French Hill, R-Ark., and Maxine Waters, D-Calif.It comes as the national political environment deteriorates for Republicans ahead of the 2026 midterms.Trump’s approval rating is just 37% in a recent Associated Press poll, dragged down by the fact that just 33% approve of his handling of the economy.The cost of living continues to rank as a top issue for voters, often the No.
1 concern.A June NBC News poll found that almost 80% of U.S.
voters believe the “American Dream” is harder to achieve today than it was a generation ago.The bill gives the Republican-led Congress a tangible victory on a top affordability concern as housing costs squeeze American families.GOP leaders high...