Congress delivered a rare moment of consensus Tuesday on one of the nation's most pressing economic anxieties. The House approved sweeping housing legislation with a 358-32 vote, sending the bill to President Trump, who signaled his intention to sign it into law Wednesday at the Capitol. The Senate had already passed the measure 85-5 on Monday, cementing support across party lines on an issue that has animated voters heading into the midterm elections.
The bill represents the most comprehensive attempt in decades to address the housing affordability crisis by attacking the problem from multiple angles. It slashes federal red tape, accelerates environmental reviews, compresses construction timelines, and restricts corporate landlords from bulk-purchasing single-family homes. The package combines dozens of individual proposals hammered out over months of negotiation, each addressing a different piece of a fractured housing market.
The numbers underscore the urgency. First-time homebuyers now have a median age of 40, according to Rep. Maxine Waters, the California Democrat who helped broker the deal. Rents have climbed roughly 47 percent since the pandemic. The U.S. housing shortage stands at 10 million units, while existing home sales have cratered to the lowest level in three decades. Monthly rents remain 17.2 percent higher than pre-pandemic levels despite recent declines.
"Our country must do better and today we will," Waters said ahead of the vote.
The legislative package expands financing options, promotes modular and other innovative housing types, establishes new tenant protections, and bolsters programs targeting homelessness. Communities that exceed median homebuilding rates will receive additional Community Development Block Grant funding. The bill creates pathways for converting abandoned buildings into housing and offers a framework for localities to overhaul restrictive zoning rules that have historically choked housing supply.
Public housing units gain increased access to renovation financing, and disaster recovery programs receive new money and streamlined procedures to rebuild affected communities. The legislation notably excludes a Senate proposal that would have forced investors to sell newly constructed homes within seven years, a concession made during final negotiations.
Rep. French Hill, the Arkansas Republican who chaired the House Financial Services Committee and shepherded the bill through both chambers, called it the first major housing overhaul in years. "It will help build more homes to meet that growing demand and keep the American dream within reach," Hill said.
The housing market has been locked in stagnation since 2022, when mortgage rates spiked from pandemic lows. Existing home sales now hover near 4 million annually, far below the historical norm of 5.2 million. Last year's sales hit a 30-year low and have remained sluggish into 2024. The Economic Report of the President identified the shortage of affordable units as a core driver of the crisis, while a Harvard housing study found that cost burdens for renters and owners continue climbing against stagnant assistance programs.
The unusual breadth of support crossed traditional divides. Landlord associations and tenant advocacy groups both endorsed the measure. Real estate industry representatives joined affordable housing advocates in backing the bill, recognizing that supply shortages hurt everyone in the market.
For lawmakers, the vote offered a chance to showcase competence on an issue eating into household budgets nationwide. "In this polarized and angry Congress," said Democratic Rep. Jim Himes of Connecticut, "we are actually getting something done." Republicans and Democrats alike emphasized the rarity of such consensus in a Capitol defined by partisan gridlock.
Author James Rodriguez: "This bill proves that Congress can move mountains when the problem is big enough and hurts enough people. Now the real test begins: whether anything actually gets built."
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