Summary
Lawmakers in the United States from both political parties agree on solutions to make housing more affordable. The Senate passed a bipartisan bill aiming to update federal housing programs and reduce building costs, and it now awaits a similar decision in the House. The high cost of housing affects many Americans, with millions struggling to pay rent or afford homes.
Key Facts
- Lawmakers agree on making housing more affordable across political lines.
- A Senate committee approved the ROAD to Housing Act to modernize federal programs.
- The act aims to reduce regulatory barriers and allows local governments more control over housing.
- The U.S. has not built enough homes to meet demand over the past 15 years.
- Between 2020 and 2023, rents increased by nearly 24%, and home prices went up 38%.
- Over 42 million households spend more than a third of their income on housing.
- The 2024 federal count recorded over 770,000 homeless people in a single night, marking an 18% increase from the previous year.
- High housing costs also raise employer expenses and impact economic growth.
