The bipartisan 21st Century ROAD to Housing Act, which passed by the U.S. House 358–32 and Senate 85–5 in June, became law on July 11 without President Trump’s signing.
The act, considered one of the largest bipartisan housing packages in decades, includes over 50 provisions targeting housing, production, financing, and regulatory reform, and aims to remove barriers to new development, including the original build-to-rent (BTR) stipulations.
What They’re Saying
“Homeownership should be within reach for more Americans, and this law moves us closer to that goal. This bill reduces unnecessary barriers to building, strengthens community banks, and ensures families–not institutional investors–have a fair shot at buying a home. The final product reflects years of bipartisan, bicameral collaboration and proves that when Congress stays focused on results, we can deliver meaningful reforms,” said French Hill, chairman of the House Federal Services Committee.
“NAHB applauds Congress and the Trump administration for delivering a bipartisan housing victory for the American people. Strong support in both chambers makes clear that housing affordability is a national priority. By reducing regulatory barriers, helping builders increase supply, and expanding opportunities for homeownership and rental housing, this landmark law is an important step toward easing the nation’s housing affordability crisis. We look forward to working with the administration and Congress to implement it,” said Bill Owens, chairman of the National Association of Home Builders.
“Passing the 21st Century ROAD to Housing Act was a historic milestone. Implementing it is the work that will actually determine whether families feel the impact the legislation intends to make. NAAHL and our network stand ready to support implementation work that will bring this legislation to life and help more families find a home they can afford,” said Sarah Brundage, president and CEO of National Association of Affordable Housing Lenders and the Center for Affordable Housing Lending.
What’s Next
Zonda says the passage of the bill supports institutional capital’s desire to fund the construction of the rental homes needed in the market. While near-term conditions are challenging, the BTR segment should see recovery.
The NAAHL points out that passage was the first step and now implementation is necessary. The association has released an implementation guide that identifies 124 distinct implementing actions required. The Department of Housing and Urban Development is the lead agency of 71% of the required actions and roughly half of the actions are due within just one year of enactment, NAAHL says.
