Unbiased AI-powered news
The 21st Century ROAD to Housing Act heads to the Senate floor Monday after House and Senate leaders reached a compromise last week.
ndtv.comCongress will soon send President Trump bipartisan legislation designed to increase housing supply and lower homeownership costs. The 21st Century ROAD to Housing Act combines dozens of individual bills negotiated over multiple years. Senate Majority Leader John Thune said limited housing supply and burdensome regulations have contributed to higher prices.
“So this bill cuts unnecessary red tape that’s delaying construction and driving up prices,” the South Dakota Republican said. 4 percent of the final price of a new single-family home. That figure is almost three percentage points higher than the group’s 2021 study and equals $131,734 on a home priced at the current industry average of $499,500.
U.S. 2 million units, according to NAHB, which supports the legislation. The Harvard Joint Center for Housing Studies 2025 annual housing report found unsold inventories grew last year, prompting builders to cut prices and shift toward more cost-efficient homes.
Senate Minority Leader Charles E. ” Leaders of the Senate and House panels with jurisdiction over housing policy announced a bipartisan, bicameral compromise last Tuesday. Massachusetts Sen. Elizabeth Warren said the measure would represent the biggest housing bill in more than 30 years.
The Senate will vote on final passage Monday evening. The House is expected to vote later in the week. House Financial Services Chairman French Hill and ranking member Maxine Waters convinced senators to include provisions providing regulatory relief to community banks.
They also secured a compromise on a top Trump priority. President Trump in May urged lawmakers to pass a Senate version that included language codifying his executive order banning large Wall Street investment firms from buying single-family homes. The final bill bans companies with investment control of 350 or more single-family homes from purchasing additional units.
The Senate bill would have forced those companies to sell existing units within seven years, but that provision was dropped in final negotiations. The right-leaning American Enterprise Institute argues institutional investors own less than 1 percent of the nation’s single-family homes and have sold as many rental homes as they acquired over the past two years.
The bill authorizes a seven-year innovation fund to aid communities in building more housing supply.
It also authorizes pilot grant programs for regional housing planning and converting vacant and abandoned buildings into housing. The measure instructs the Department of Housing and Urban Development to develop zoning and land-use policy best practices for localities. Sen.
Tina Smith secured provisions overhauling the Department of Agriculture’s Rural Housing Service program. She said the updates will preserve 400,000 apartments and homes in rural communities.
foxnews.comIsraeli Prime Minister Benjamin Netanyahu told a Jerusalem policy summit that two named operations destroyed Iran's nuclear infrastructure and killed 20 scientists. He also described strikes on missile and regime targets plus new security zones in Gaza, Syria and Lebanon.
foxnews.comA federal judge barred the Kennedy Center from shutting for two years of renovations and required removal of President Trump's name from the building. The board will vote in mid-July on three renovation options.
theepochtimes.comChicago police recorded seven deaths and 38 injuries from multiple shootings that began Friday evening and continued through Sunday. Officials reported at least two dozen separate incidents since 5 p.m. Friday.