[Last] week, CURE sent letters to House members and senators, calling for their support of H.R. 6644, 21st Century ROAD to Housing Act.
As the letters note, the bill includes a range of policies to address housing affordability, boost supply, modernize financing options, reduce regulatory barriers, promote economic mobility, and enhance program oversight and coordination.
Among many things, the legislation:
- Prohibits large institutional investors from purchasing certain single-family homes;
- Directs Fannie Mae and Freddie Mac to increase transparency for veterans;
- Allows the Department of Housing and Urban Development (HUD) to prioritize housing development and preservation grants for projects based in Opportunity Zones; and
- Directs HUD to conduct a review of Federal Housing Administration construction financing programs to identify barriers for modular housing developers and administrative opportunities to reduce any such barriers.
After passing in the Senate [last] Monday, the legislation passed in the House on Tuesday with bipartisan support and is awaiting President Trump’s signature.
CURE commends Congress for passage of this vital legislation that aims to tackle the high housing costs facing hardworking Americans. The 21st Century ROAD to Housing Act will eliminate unnecessary and burdensome red tape, while protecting American taxpayers and providing real solutions to combat the limited supply and rising costs of housing in America.
Photo credit: By ajay_suresh – United States Department of Housing and Urban Development (HUD), CC BY 2.0, link
