The biggest housing bill in more than 30 years is finally law.For more than two weeks, President Donald Trump refused to sign the bill — not because he had a problem with it, but because he cared so little about the squeeze families are facing that he sat on the bill for so long, it became law without him.President Trump calls the affordability crisis a "hoax" and has called this landmark legislation "minor." But overwhelming numbers of Americans understand that the affordability and housing crises are anything but minor.
The 21st Century ROAD to Housing Act is an important step toward doing something about it.This new law establishes powerful federal incentives to get communities across the country to build more housing.It removes outdated rules, so that housing can be built more quickly.
It makes it cheaper to build manufactured housing.CONGRESS EYES RARE BIPARTISAN HOUSING WIN WITH OR WITHOUT TRUMP'S HELPThe bill also stops private equity from buying up single-family homes.For years, I’ve been raising the alarm about private equity taking over industries, stripping them for parts, and running businesses into the ground.
Congress had never before held private equity accountable for anything.That changed with the passage of this major bipartisan bill.
Nearly 90% of voters support this law, and it wouldn’t have happened without the leadership of Sen.Tim Scott, R-S.C., Rep.
Maxine Waters, D-Calif., mayors across the country, and everyone who helped push it across the finish line.There is much more we need to do to lower housing prices.I’ve proposed dozens of additional ideas, from ending tax benefits for private equity landlords to making more investments to build housing, and we should start moving forward on them.
This legislation is proof that when faced with a crisis this severe, even with a disinterested president, Congress can act.But the affordability crisis doesn’t end with housing.
So rather than pat ourselves on the back, it’s time to sta...