A major housing bill is set to become law at midnight. Trump says he won't sign : NPR
Key Points:
- The 21st Century Road to Housing Act, hailed by Democrats and some Republicans as a major bipartisan housing bill, aims to make homeownership more affordable by encouraging homebuilding and limiting corporate ownership of single-family homes.
- Despite broad congressional support, former President Trump has refused to sign the bill, calling it a "big yawn" and conditioning his approval on the passage of a strict voter ID bill, the stalled SAVE America Act.
- Key provisions include capping corporate landlords owning more than 350 single-family homes, easing environmental reviews for certain developments, and removing costly requirements for manufactured homes to reduce construction expenses.
- The bill does not address local zoning laws or mortgage rates, which significantly impact housing affordability, and any benefits from increased homebuilding are expected to take years to materialize.
- Housing experts view the bill as an important first step amid soaring home prices, emphasizing the need for continued federal and local efforts to prioritize housing affordability ahead of upcoming elections.