CITYBUILDER Brief: State and Federal Housing Momentum

U.S. House improves ROAD to Housing Act; NC might pass statewide reforms. Come to Policy Talk May 21

On the National Radar:

Improved ROAD to Housing Act Set for Vote

Image Source: The Middle Market

A better bill: Yesterday, the House Financial Services Committee reached a bipartisan agreement to pass an upgraded version of the ‘21st Century ROAD to Housing Act’, which passed the Senate in March.

Senate shortfalls: The Senate’s version of the bill contained a provision that would effectively halt the construction of build-to-rent housing in America, eliminating at least 70,000 new housing units per year (~10% of total housing construction).

House improvements: The new House version of the bill doesn’t contain the provisions eliminating build-to-rent, which is a major win for housing advocates. The bill still contains a ban on “large institutional investors” (companies that own more than 350 single-family homes) buying additional single-family homes. However, this ban is not expected to significantly depress housing construction.