Summary
A bipartisan bill aimed at addressing the housing affordability crisis has advanced in the House of Representatives. The bill is a response to a similar Senate bill but differs on key points related to homelessness and VA loans. The new House bill seeks to increase housing inventory and streamline construction processes.
Key Facts
- A new bill on housing affordability has moved forward in the House of Representatives.
- This House bill, called HR 6644 or the Housing for the 21st Century Act, received a 50-1 vote in committee.
- The bill's goal is to increase the housing supply by streamlining zoning laws and creating standardized home designs.
- This House bill differs from the Senate's version by excluding provisions related to homelessness and VA loans.
- Homeownership rates have dropped to their lowest since 2019, partly because of a housing shortage.
- President Trump promised during his campaign to lower housing costs and increase inventory.
- The bill is seen as a response to high housing prices and limited housing availability in the U.S.
- Industry experts see passing bipartisan housing legislation as necessary to address the crisis.
