House Easily Passes Measure To Assist In Home Affordability

The House of Representatives has passed the Housing for the 21st Century Act in a decisive 390–9 vote, advancing a bipartisan effort to address housing affordability and supply shortages across the country. The legislation, co-sponsored by House Financial Services Committee Chairman French Hill (R-AR) and Ranking Member Maxine Waters (D-CA), now moves to the Senate for consideration.

Lawmakers described the bill as a targeted response to rising home prices and rents, which many attribute to limited housing supply and regulatory barriers that slow development. Rather than creating new subsidy programs, the measure focuses on modernizing existing federal housing policies and reducing obstacles that supporters say make building new homes more expensive and time-consuming.

Key provisions direct the Government Accountability Office to identify inefficiencies in federal housing programs and update the Department of Housing and Urban Development’s HOME Investment Partnerships Program. The bill also aims to reduce regulatory burdens and provide banks with greater flexibility to deploy capital toward housing development.