U.S. lawmakers update housing bill as Senate weighs affordability package

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U.S. lawmakers update housing bill

Highlights

Senators Tim Scott and Elizabeth Warren join Representatives French Hill and Maxine Waters to unveil updated 21st Century ROAD to Housing Act with bipartisan, bicameral backing.
The Senate version features a three-year sunset on the CDBG-DR program, nine community banking bills, and provisions to limit institutional investors’ acquisitions of homes.
The package comprises over 50 housing and banking measures aimed at increasing supply, reducing costs, and curbing private equity purchases, with further policy work anticipated.

Updated bill text and bipartisan priorities

As reported by the Senate Committee on Banking, Housing, and Urban Affairs, Senator Tim Scott, Senator Elizabeth Warren, Representative French Hill and Representative Maxine Waters release updated bill text and a section-by-section summary for the 21st Century ROAD to Housing Act as the Senate considers the measure.

The package reflects years of bipartisan, bicameral negotiations between the Senate Banking Committee and the House Financial Services Committee. Lawmakers say the revised proposal targets the root causes of rising housing costs by cutting red tape, unlocking housing supply and lowering costs for families, while also preserving local control.

Scott says the bill gives Congress a chance to deliver relief for families and expand access to homeownership. Warren describes the measure as a potentially historic housing package that would boost supply, reduce costs and, for the first time, stop private equity from buying up homes.

Implications for housing finance and supply

Hill says the Senate version includes a three-year sunset on the CDBG-DR program and adopts key House priorities, including nine community banking bills and language intended to limit institutional investors from outcompeting families in the housing market. He says the legislation is a meaningful step toward improving affordability and increasing housing supply.

Waters says the agreement follows months of negotiations and includes more than 50 housing and banking provisions that Democrats sought to secure. She characterizes the bill as progress rather than a final outcome, with further work still needed on housing costs, homelessness and affordable housing access nationwide.

In our earlier article on Congress moving to limit large investors in the single-family housing market, we explained that lawmakers reached a bicameral agreement on an affordability package that would cap major investor purchases at 350 homes. The updated approach dropped an earlier idea requiring investors to sell newly built homes within seven years, instead focusing on a hard ownership limit framed as a historic step to curb private equity’s footprint in neighborhoods.

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