U.S. Congress Passes Major Housing Bill to Boost Supply and Curb Investor Buying

The bipartisan 21st Century ROAD to Housing Act automatically became U.S. law on July 11 after President Trump allowed it to pass without his signature, protesting Congress's failure to pass a voter ID bill. The legislation aims to ease the housing affordability crisis by boosting supply through measures such as removing costly requirements for manufactured homes, cutting red tape for modular construction, and creating a $200 million annual innovation fund to reward local governments that build more housing. A key provision restricts large institutional investors from purchasing new single-family homes, which supporters say will help curb the trend of turning America into a nation of renters. The law has drawn mixed reactions: progressives praise it as the most significant housing legislation in decades, while critics argue it expands federal bureaucracy with insufficient funding and mandates that may hinder construction. The high cost of living remains a defining national issue.