Congress has passed a comprehensive housing reform package that aims to address the nation's housing shortage and curb rising homeownership costs. The bill, officially titled the 21st Century Road to Housing Act, gained final passage in the House of Representatives with a vote of 358-32, following a 85-5 approval in the Senate.
The legislation seeks to increase the supply of homes by easing regulations on construction and limiting the ability of large investors to purchase residential properties. According to a 2024 study by Freddie Mac, the U.S. is estimated to be short 3.7 million housing units, a significant factor in the current housing crisis. The bill also includes provisions for grants to convert vacant buildings into affordable housing.
Supporters of the bill, including Senator Elizabeth Warren, a Democrat, and Senator Tim Scott, a Republican, lauded the bipartisan effort. Scott stated that increasing housing supply can provide more opportunities for first-time homebuyers, noting that the average age of a first-time buyer is currently 40. Warren expressed pride in the Senate's ability to pass legislation that offers tangible benefits to Americans.
However, the bill's path to becoming law has encountered an obstacle. President Donald Trump announced on social media that he is postponing the signing of the legislation until Congress passes his SAVE America Act. Trump has previously stated that the SAVE America Act supersedes all other legislative priorities for him.
Several Republican senators, including Ron Johnson, Mike Lee, Rand Paul, Rick Scott, and Tommy Tuberville, voted against the housing package. Senator Rick Scott voiced his opposition, expressing skepticism about the federal government's ability to lower housing costs. He argued that balancing the budget and reducing federal regulations, which he believes are primarily handled at the local level, are more effective ways to address housing affordability.