House Passes 21st Century ROAD to Housing Act 396-13

In a significant bipartisan move, the U.S. House of Representatives passed a major housing affordability bill on Wednesday, advancing one of the most substantial federal housing initiatives in decades. The legislation, known as the 21st Century ROAD to Housing Act, passed by an overwhelming vote of 396 to 13.

The bill aims to address the national housing crisis by expanding supply through multiple avenues. Key provisions include expanding loans for new construction, encouraging local governments to ease zoning and permitting restrictions, and modernizing programs for affordable housing. A central component is a new restriction on large institutional investors, barring entities that already own 350 or more single-family homes from purchasing additional ones. This measure aligns with an executive order issued by President Donald Trump in January.

However, the House version modifies the bill that previously passed the Senate in March by a vote of 89 to 10. The most notable change is the removal of a Senate provision that would have required institutional investors to sell newly built single-family rental properties to individual homeowners after seven years. Critics of that mandate...