House Passes Bipartisan Housing Bill to Cut Regulations and Expand Supply

The House gave final approval Tuesday to a broad bipartisan bill aimed at lowering the cost of housing. The 358-32 vote sends the legislation to President Donald Trump, who is expected to sign it into law Wednesday at the Capitol. The Senate passed the bill 85-5 on Monday.

The measure reduces federal regulations, streamlines environmental reviews, speeds construction, and limits corporate landlords' ability to buy single-family homes.

The legislation expands financing options and encourages modular homes. It requires new renter protections, raises limits on public housing units eligible for renovation financing, and provides grants to communities that exceed median homebuilding rates.

It also offers a framework for zoning reform and codifies a program to speed disaster recovery funds. A Senate provision requiring investors to sell new homes within seven years was not included.

The U.S. housing market has been in a slump since 2022, when mortgage rates rose from pandemic lows. Existing-home sales have hovered near a 4-million annual pace since 2023, below the historical 5.2-million norm. A June report from the Joint Center for Housing Studies at Harvard University found existing-home sales at three-decade lows and noted rising inventories due to high purchase costs.

Democratic Rep. Maxine Waters of California said the median age of a first-time homebuyer is now 40 and rents have risen 47 percent since the COVID-19 pandemic. House Financial Services Chairman French Hill, an Arkansas Republican, said the bill represents the first measurable changes to housing laws in years.