On June 23, 2026, the House of Representatives passed a housing affordability bill aimed at increasing the supply of homes and regulating large investors' purchases of residential properties. The bill passed with a vote of 358-32, following its approval in the Senate by a vote of 85-5. It is now set to be signed into law by President Donald Trump, who has expressed support for the legislation.
The bill, known as the 21st Century ROAD to Housing Act, includes provisions for grant funding and pilot programs to facilitate the construction of new homes. It also seeks to reduce certain regulations and empower local governments to expedite housing development reviews. A significant component of the bill is the section titled "Homes Are For People, Not Corporations," which aims to restrict large institutional investors from acquiring single-family homes.
The legislation had faced delays due to disagreements between the House and Senate, but a compromise was reached last week among key committee leaders, including Senators Tim Scott and Elizabeth Warren, as well as Representatives French Hill and Maxine Waters.
As the midterm elections approach, the bill represents a bipartisan achievement for a Congress that has often been characterized by gridlock. The cost of living remains a primary concern for voters, with a recent NBC News poll indicating that nearly 80% of Americans believe achieving the "American Dream" is more difficult now than in previous generations.
Democratic leaders, while recognizing the potential political implications of supporting a bill that benefits Trump, noted that the bipartisan nature of the vote and the inclusion of liberal policy measures would allow for shared political credit. Senator Scott described the bill as a culmination of efforts to lower costs and expand housing supply, while Senator Thune emphasized the importance of making housing more affordable for the American public.