U.S. Housing Act Becomes Law Without Trump's Signature, Aims 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 but declining to veto. The legislation aims to ease the housing affordability crisis by boosting supply through measures such as removing the requirement for a permanent steel chassis on manufactured homes (potentially saving $10,000 per unit), restricting large institutional investors from purchasing new single-family homes, and creating a $200 million annual innovation fund to reward local governments that build more housing. It also cuts regulations on factory-built and modular homes to encourage innovation. Analysts offer mixed views: some praise the bipartisan effort and targeted reforms, while others criticize the law for expanding federal bureaucracy with mandates on wages, and for providing only token funding levels that are insufficient to solve the deep national housing crisis. The law represents a significant but contested step in addressing America's high cost of living.